Varia US Properties AG announced today that it has fully deployed the proceeds of CHF 50 million from the bond issue in May 2019. Overall, the Company acquired three properties comprising 1,261 units. One acquired property is located in Memphis (Tennessee) and two in Kansas City (Missouri). All projects are located in strong demographic and employment markets offering promising return prospects to the Company’s shareholders.
In addition these acquisitions benefitted from improved financing conditions in the US market. The first two assets were acquired with a 10 year, interest only, 3.50% interest rate loan and the third one benefitted from a 10 year, interest only, 3,19% interest rate loan, which is a very low rate for the US lending market.
Varia confirms the targeted dividend of CHF 2.60 per share for the business year 2019 to be paid after the Annual General Meeting in April 2020. It includes the quarterly planned and approved distribution of CHF 0.50 per share in August and November 2019 as well as in February and May 2020.Full Media Release