At the end of June 2021, the portfolio comprised 45 assets spread across 17 different states in the United States of America with a total value (appraised value by Colliers as of June 30, 2021) of approximately USD 1.060 billion.
The portfolio is 100% residential and comprises 10’870 units among which 969 are so-called Low-Income Housing Tax Credit (LIHTC) units and 9’901 are market units.
Compared to June 2020, the portfolio (i.e. same perimeter) grew in value by 6.2% or USD 55.6 million during this period, which is the result of the value-add strategy and of the rental increase.
Property Details as of June 30st 2021
| Units | 10’870 | 10’870 total units across 45 properties |
| Market Units | 9’901 | 91% of units are market rent units |
| LIHTC Units | 969 | 9% of units are LIHTC units |
| Leasable Square Feet | 9’711’579 | 893 average sq ft/unit |
| Leasable Square Meter | 902’235 | 83 average sqm/unit |
| Total Market Value | USD 1’059’620’000 | USD 97’481 per unit |
| Average Monthly Rent | USD 882 per unit | – |
| Occupancy Rate | 96.3 % | – |
| Loan to Value at Property Level | 56.4 % | – |
Geographical Split of Varia’s Property Portfolio
At the end of June 2021, the value of Varia’s portfolio was USD 1.060 billion.
The Portfolio’s assets are located in 17 States namely: Arizona, Colorado, Florida, Georgia, Indiana, Kansas, Kentucky, Missouri, Nebraska, New Mexico, North Carolina, Ohio, Oklahoma, South Carolina, Tennessee, Texas and Utah.