ACRON HELVETIA VII IMMOBILIEN AG M IN ERGIE-P®

M
IN
G
ER
I
P
E-
®
ACRON HELVETIA VII IM MOBILIEN AG
ACRON AG
Stockerstrasse 8
8002 Zürich
Schweiz
fon
+41 . (0)44 . 20 43 400
fax
+41 . (0)44 . 20 43 409
mail
[email protected]
web
www.acron.ch
BUILDING WEALTH
ZÜRICH
DÜSSELDORF
DALLAS
TULSA
ACRON HELVETIA VII Im mobilien AG
office property Portikon
thurgauerstrasse 130, 8152 glattpark
zurich-opfikon
zurich, June 30, 2010
Simple and transparent
investment
The ACRON
success formula for
long-term success
highlights OF
acron helvetia vII immobilien ag
The real-estate investment ACRON HELVETIA VII
allows investors to put their capital in economicallystable Switzerland. It is a safe, transparent and
highly profitable real-estate investment, which is
characterized by the following features:
Top office property, energy standard MINER­
GIE-P®, top tenant structure in a prime
location in Zurich
• Office building PORTIKON, built in 2009.
•Centrally and conveniently located directly
between the airport Zurich-Kloten and the
Zurich city center.
•Tenant mix with high credit ratings - 100 % leased.
•All leases are triple net agreements.
One Asset – One Company
ACRON HELVETIA VII is the irrevocable and exclusive owner of the office and logistics property; no
additional properties will be acquired; transparency
and security for the shareholder are equivalent to
those of a direct participation in the real estate.
2
Thus:
• Clear and unchangeable risk profile.
• An investment that is 100 % transparent.
•S
ecurity of investment unaffected by management or business risks.
• Inflation protection through the direct effect of
price increases on the income statement.
Clear investment structure
Thus:
•Above-market return: 6.25 % p.a. until 2013;
6.50 % p.a. from 2014.
•Distribution return in the first years tax-free
(at least until 2024).
•Low administrative costs: incidental investment
costs account for only 4.9% of the total investment costs.
•Loan and fixed interest of loan secured for the
long term.
•Share as an investment vehicle – option of
stock-exchange listing following placement.
•Exit following decision of investors on sale of
assets or shares.
All decisions rest with the investor
ACRON is a service provider in the fields of asset
and property management and manages the
investment on behalf of and in the interest of the
investors.
Selectively invest
in a top property
With 100 % transparency
With certainty
Registered office c/o ACRON AG,
Stockerstrasse 8, 8200 Zurich, Switzerland
Net purchase price CHF 127,000,000
Company number CH-660.7.854.0008-8,
Commercial register of the canton of Zurich
Return (IRR) under routine circumstances
8.7 % p.a. before taxes
Vendor HOCHTIEF Projektentwicklung GmbH,
45133 Essen, Germany
Address Thurgauerstrasse 130, 8152 Glattpark,
Zurich-Opfikon, Switzerland
Net annual rent CHF     7,834,239
Investment data
Share capital
CHF 55,000,000
of which share capital investors
of which share capital ACRON AG
CHF
CHF
54,900,000
100,000
Type of property Office property
Borrowed funds
CHF 87,000,000
Parking spaces 144 (parking deck)
Total financing
CHF142,000,000
Energy standard Minergie-P®, comparable to
German “passive house” standard
Gross purchase price incl. reserveCHF135,045,000
plus incidental investment costs CHF 6,955,000
Electrobiology Based on tables of permissible
limit values according to “ESMOG-STOP-Tested”
Total investment
Completion date September 9, 2009
Net leasable area 18,800 m2
Tenants, share of rental space, term
Baxter Healthcare S.A., 45.94 %,
to July 31, 2019, or October 31, 2019
Nycomed International Management GmbH,
44.72 %, to December 31, 2019
Graf Z AG, 5.35 %, to September 30, 2019
HOCHTIEF Facility Management Swiss AG,
0.85 %, to July 14, 2013
HOCHTIEF Development Schweiz AG,
3.15 %, to May 31, 2018
CHF142,000,000
Distributions
The shares create a pro-rated entitlement to
participate in the forecast distributions of the
company; these are to rise from initially 6.25 %
p.a. to 6.50 % from 2014.
Minimum investment CHF 100,000
(qualified investors under CISA – Swiss Collective
Investment Schemes Act)
ISIN no.
CH 0049813634
Board of Directors Jürg Greter (Chairman)
Kai Bender (Member)
Auditors
PricewaterhouseCoopers AG
3
Make your own
decisions about
your assets
ACRON HELVETIA
Investment Concept
Swiss real-estate projects are interesting for
ACRON when they meet a series of criteria: For
example, ACRON invests only in office, retail and
logistics properties as well as hotels in attractive
locations. The total investment volume must not
exceed CHF 200 million.
If the company decides in favor of an acquisition,
ACRON will create an investment company
organized as an “Aktiengesellschaft” (company
limited by shares) – in this case, ACRON HELVETIA
V Immobilien AG – which acquires the property at
its own risk and holds it as its only asset, according
to the ACRON principle of “One Asset – One
Company”. Investors are invited to participate in
the share capital.
4
This investment concept offers investors
optimal transparency, because they receive
comprehensive information on the predicted
development of the investment. This includes not
only real-estate data, but also location factors,
tenants’ credit ratings, lease agreements, and
forecasts including all calculations as well as
contractual details.
Another important advantage of this innovative
investment concept is the largely tax-free
distributions.
• Closed real-estate investment: The investor, as a
shareholder, takes a share in ACRON HELVETIA VII.
• Sole investment content: High-value and
currently largest office property in Switzerland in
accordance with the Minergie-P® standard.
• Full and long-term leased office property
PORTIKON as the basis for stable cash flow.
• Mix of reputable tenants with two pharmaceutical
companies as main tenants with a strong credit
rating: long-term leases provide for high income
security.
• Glattpark, a location with high growth potential.
• High security due to conservative financing.
hares entitle shareholders to a pro-rated share in
•S
the expected distributions of the company. Forecast:
6.25 % p.a. relative to the issue price of the shares
(2010-2013); increase to 6.50 % p.a. from 2014.
• Until at least 2024 the distributions will be tax-free
for investors. From 2025 at the earliest, a portion
of the distributions will be paid out as dividend
(taxable).
• After the placement of the share capital approved
for the offering, the shares will be posted to the
securities portfolios of the investors.
• Followed by: Listing of ACRON HELVETIA VII on
the stock exchange (BX Berne eXchange); opening
shares to the public and thus also to nonqualified
investors.
• Monitoring the application of funds: Handled by a
bank or financial institution.
5
“Safe haven”
Switzerland – a secure
and innovative
investment location
Switzerland impresses
with fantastic numbers
Since the nadir of the recession in early 2009,
the Swiss economy has recovered and developed
better than expected. The 4th quarter of 2009,
with growth of 0.7 percent from the previous
quarter, saw the highest growth since the end of
2007. The office vacancy rate in major cities in
2009 was less than three percent. In comparison
to the richer OECD countries, the decline of
the Swiss economy for the full year 2009 was
relatively minor at 1.5 percent, which gives
Switzerland a relatively good starting position.
The economy is recovering rapidly and this trend
is continuing. For 2010 the experts at UBS expect
to see growth of 2.5 percent.
Experts do not see the risk of a housing bubble in
Switzerland. According to them, Switzerland had
suffered through its real-estate crisis in the early
nineties, and today the prices are still lower than
they were then.
Nominal offer prices for office space
(in CHF per square meter and year)
300
250
200
150
100
50
70
75
80
85
2006 2007 2008 2009 2010P 2011P
3.6
EMU
3.6
1.9
-1.5
2.5
2.1
3.1
2.8
0.5
-4.0
1.7
2.2
Germany
3.4
2.6
1.0
-4.9
2.0
2.2
France
2.4
2.3
0.3
-2.2
1.7
2.2
Italy
Comparison of office markets in major cities
Vacancy rates in 2009 in %
Berne
Prime rents in 2009
in Swiss francs per m2 p.a
Geneva
Basel
Zurich
Geneva
Frankfurt
Munich
2.1
1.4
-1.3
-5.1
1.1
2.1
Zurich
UK
2.9
2.6
0.5
-4.9
1.5
2.8
Hamburg
Berne
U.S.
2.7
2.1
0.4
-2.4
3.0
3.0
Berlin
Hamburg
2.0
2.4
-1.2
-5.2
3.4
1.7
Japan
Source: UBS Outlook 3 Quarter 2010
rd
Munich
Basel
Düsseldorf
Düsseldorf
Frankfurt
Berlin
0
6
95
00
05
10
Source: Wüest & Partner AG
Solid Switzerland
GDP growth in % compared to previous year
Switzerland
90
5
10
15
0
300
600
900
Source: Handelsblatt No. 135, dated July 16, 2010
Sources: Statistical offices,
© Handelsblatt GmbH. All rights reserved.
Wüest & Partner
Zurich, Switzerland’s
economic engine
Reputable neighbors
at Glattpark, Zurich-Opfikon
Zurich, one of the leading financial centers in the
world, forms the center of gravity of the Swiss
property market. Only 380,000 people live here.
But 19 percent of all jobs in Switzerland are
centered here.
PORTIKON is located in the Glattpark district of
the Opfikon municipality and, due to its excellent
connections to international transport networks, is
among the most developed cities in Switzerland. In
addition, within the canton of Zurich it is among the
jurisdictions with the most advantageous tax rates –
a location advantage for many international hotels
and businesses.
In the economic area of Zurich, about a third of
Switzerland with 3.2 million inhabitants, around
140,000 businesses with 1.6 million employees
generate a national income of CHF 170 billion.
Eighty-five of the one hundred largest Swiss
companies have their headquarters within an
hour’s drive from the city center of Zurich. These
include global corporations such as ABB, IBM,
Kraft Foods, Google, Siemens, UBS and Credit
Suisse.
Price trends for office space in the
major cities in the German-speaking
part of Switzerland (Index 1st half 1996 = 100)
140
130
120
110
100
90
99
Zurich
01
Basel
03
Berne
05
07
The district has experienced years of dynamic growth,
with originally separate neighborhoods growing more
and more into a functionally interdependent urban
system. The modern “Glattalbahn” rapid transit rail,
highway connections to Berne, Basel, St. Gallen and
Chur, two suburban-train stations and bus lines render
the office property PORTIKON easily accessible from
all directions. The airport is nine minutes away, and
Zurich’s city center about 15 minutes.
The attractiveness of Glattpark is also reflected in the
companies that are located in close proximity. These
include, for example, Allreal Generalunternehmung
AG with its eight-story office building Lightcube, the
food company Kraft Foods Europe, which opened
here its Swiss headquarters in 2006, as well as the
four-star hotel Novotel with 255 rooms and the fivestar Renaissance hotel with 204 rooms.
09
Source: Wüest & Partner
7
Photovoltaic system on the roof of PORTIKON
Sustainable real estate
Low-energy building
With a total area of 18,800 m2, PORTIKON is the
largest low-energy house ever to have been built
in Switzerland. It meets the strict requirements of
the MINERGIE-P® standard with respect to heat
insulation, energy consumption and airflow.
The office property was designed as a “four-core
concept”, i.e., four building sections are grouped
around a central, covered courtyard. The spacious,
light-filled atrium provides all floors with light for
well-lit workplaces, openness and transparency.
The spatial concept allows for flexible subdivisions
of up to 10,500 m2, which can be used to create
self-contained individual offices, large-scale communication zones or conference and presentation
rooms. Thus, the building can accommodate 600800 workstations. The generous height of three
meters and Tab-Silent fields in the ceilings provide
for a pleasant working atmosphere and excellent
acoustics.
Two elevators per core allow for a decentralized
mode of transport close to the offices. Together
with a delivery elevator, there is a total of eleven
elevators.
8
Attractive architecture
PORTIKON is characterized by its elegant and
clearly-structured form and stands out from among
the other buildings. The characteristic openness of
the building is achieved in that both the exterior
and the interior facades consist mainly of glass.
On the outside facade, tenants can showcase their
corporate logos.
On the attic floor there are spacious roof terraces
accessible from the related rental spaces. The
balustrades from the first upper to the attic
floor consist of aluminum elements. All windows
are equipped with automatic shutters, allowing
sunlight to be blocked whenever necessary.
Looking after the physical well-being of employees
and visitors is the restaurant Graf Z, which is
accessible from the atrium and the outside. Thanks
to the opportunity for lunch breaks or holding
business lunches, PORTIKON tenants and visitors
from surrounding buildings derive a substantial
added value.
An excellent
investment
MINERGIE-P®
PORTIKON was built according to the requirements
of the Passive House standard Minergie-P® and
built in line with the sustainability principles of
the “2,000-Watt Society”. It is the largest office
building in Switzerland that meets these quality
requirements.
Its photovoltaic system is among the biggest in
Zurich, which PORTIKON uses to produce almost
all the electricity for its own building services.
In general, the energy costs of Minergie-P®
properties are lower by 40 to 65 percent compared
to conventional properties. This comprehensive
energy concept guarantees users low operating
costs and investors a continuously sound return
thanks to optimized life-cycle costs.
According to the certificate, the property is stateof-the-art and achieves “an excellent level of
comfort regarding air quality, thermal comfort and
protection against outside noise as well as aboveaverage value conservation.”
MINERGIE-P® buildings are based on the technical
optimum, and guarantee low energy consumption
while maintaining comfort. They are also
characterized by low specific heat requirements,
low-weighted energy indicators for ventilation,
heating and hot water as well as the high airtightness of the building shell.
The energy for heating the building is obtained from
the district heating network. Cooling is provided,
for example, by a 1,100 m2 photovoltaic system on
the roof. By minimizing electromagnetic radiation
within the building, an acceptable and pleasant
work environment was created.
How important sustainability and certification have
become in the last ten years is borne out by the
fact that these factors are increasingly taken into
account when building or modernizing properties. A
trend that will continue.
Minergie-P® buildings in Switzerland
by end of 2009 (all standards)
300
250
200
150
100
50
0
1998 1999
New buildings
2001
2009
2003
2005
2007
Modernization
Source: Wüest & Partner
9
Mixture of tenants
with a high credit ratings
Tenants
PORTIKON has already been fully leased to the
pharmaceutical companies and main tenants
Nycomed International Management GmbH and
Baxter Healthcare S.A. as well as, to a lesser extent,
to the restaurant operator Graf Z, HOCHTIEF Facility
Management Swiss AG (HTFM) and HOCHTIEF
Development Schweiz AG. This property is the first
project of the Swiss subsidiary HOCHTIEF and will
also serve as the business office of this leading
international provider of construction services.
Nycomed has a one-time special right of termination
as of December 31, 2014, which will be subject to a
walk-away penalty equivalent to a year’s worth of
net rent. The lease with HTFM runs until July 2013,
while HOCHTIEF Development Schweiz AG rents its
premises until May 2018. All leases are triple net
agreements.
The energy standards implemented in the
construction process will benefit all tenants, as
energy consumption will remain far below the
average, thus resulting in lower utility costs –
regardless of any future development in energy
prices.
The largest tenants by space are the pharmaceutical
companies Baxter Healthcare S.A. and Nycomed
International Management GmbH. Their leases, as
well as that of the restaurant operator Graf Z, run
until September 2019 and come with two renewal
options of five years each.
10
Tenant
area
in m2
share
in %
rental income
in CHF
lease
start
lease
end
renewal
options
Baxter
8,638
45.94
3,950,795
01.08.2009
31.12.2019
2 x 5 Jahre
Nycomed
8,408
44.71
3,434,780
01.01.2010
31.12.2019
2 x 5 Jahre
Graf Z
1,006
5.35
151,311
01.08.2009
30.09.2019
2 x 5 Jahre
HTFM
159
0.85
53,841
01.08.2009
14.07.2013
1 x 2 Jahre
HTD Schweiz AG
591
3.15
243,512
01.06.2010
31.05.2018
1 x 5 Jahre
18,802
100.00
7,834,239
Baxter Healthcare S.A.
Baxter Healthcare S.A. manufactures and
distributes medical devices and pharmaceutical
products. Baxter is a subsidiary of Baxter
Healthcare Corporation in the U.S., which in turn
belongs to the group Baxter International Inc. The
group is active in over 110 countries and employs
approximately 49,700 employees in more than
250 offices and 28 manufacturing locations.
In 2009 Baxter International had sales of
approximately US-$12.56 billion, which is an
increase of 2 percent over the previous year.
Baxter Healthcare now moved its European
headquarters from Wallisellen in the canton of
Zurich to Glattpark in order to drive its further
expansion from this location.
Dun & Bradstreet (D&B) confirmed in July 2009
that the company’s financial situation was solid
and sound with a minimal risk of default. Its
considerable number of employees also points to
a very large business volume, according to D&B.
The risk of insolvency is pegged by D&B at below
the sector’s average.
Nycomed International Management GmbH
With 12,000 employees in 50 markets, Nycomed
is among the world’s 30 largest companies in the
pharmaceutical industry. Nycomed ranks 15th for
selling over-the-counter (OTC) drugs.
Its specialization is on drugs for gastroenterology,
respiratory diseases, inflammatory diseases, pain,
osteoporosis and tissue management (hemostasis).
In October 2009 the company moved its European
headquarters within Zurich to the PORTIKON
building and wants to pursue and implement from
here its international expansion plans. In fiscal
2009 Nycomed generated sales of EUR 3.2 billion.
Its EBITDA was EUR 1.1 billion.
According to a recent financial report by Dun
& Bradstreet (D&B) in October 2009, Nycomed
International Management GmbH has a good
financial position with significant financial
resources. The risk of insolvency is pegged by D&B
at below the sector’s average.
11
Graf Z
Graf Z is a themed restaurant, which offers its
guests market-fresh, international cuisine. Baxter
Healthcare subsidizes the restaurant to provide its
own employees with healthy meals at reasonable
prices. The other tenants of PORTIKON agreed to
use the services of the restaurant for conferences
and meetings.
The restaurant takes its name and inspiration for
its interior design from the zeppelin airship. This
site was supposed to serve as the landing site for
the Hindenburg zeppelin in 1935.
HOCHTIEF Facility Management Swiss AG
Founded in July 2007, HTFM is part of the
HOCHTIEF Services division and is an affiliated
company of HOCHTIEF Facility Management
GmbH, a subsidiary of the HOCHTIEF Group.
HTFM is responsible for the building management
of PORTIKON and has the special expertise and
experience necessary for the operation of a
low-energy building certified according to the
MINERGIE-P® standard.
12
HOCHTIEF Development Schweiz AG
HOCHTIEF Development Schweiz AG was founded
in August 2007 with the objective of expanding the
operating business of the group in the Germanspeaking part of Switzerland. The HOCHTIEF group
is worldwide the fifth-largest construction service
provider and has around 47,000 employees.
In fiscal 2009 HOCHTIEF significantly improved
its results from the previous year. Thus, the result
before taxes increased to around EUR 600 million,
while consolidated profits rose from around EUR
157 million to over EUR 195 million.
HOCHTIEF provides integrated services throughout
the entire life-cycle of real estate, facilities and
infrastructure projects. The emphasis is on
innovative, green construction, energy-efficient
building renovation, increasing energy efficiency
and resource-efficient management.
According to Dun & Bradstreet, HOCHTIEF
Development Schweiz AG has a stable and sound
financial situation with a minimum risk of default
(D&B Financial Report dated October 2009).
13
Forecast – Transparent
investment structure
The forecast is based, in part, on estimates of income and expenses. The actual income and expenses may deviate
from the amounts shown in the forecast. If this is the case, the annual distributable cash surplus, the taxation
and profitability of the investment will change. The forecast is based, in part, on variable parameters that may be
affected by future developments.
ANNUAL PROFIT 2010
2011
2012
2013
2014
2015
7,713,59
7,914,925
7,994,074
8,169,944
8,349,683
8,474,928
0
43,708
47,053
47,648
47,336
45,284
7,713,159
7,958,633
8,041,127
8,217,592
8,397,019
8,520,212
0
0
0
0
40,000
159,000
Corporate management
231,395
238,759
241,234
246,528
251,911
255,606
Property management
192,829
198,966
201,028
205,440
209,925
213,005
Net rental income
Interest income – liquid funds
Total income
Maintenance
Board of Directors & Audit Committee
Interest paid
Taxes
39,793
40,206
41,088
41,985
42,601
2,386,827
2,364,469
2,339,445
2,497,516
2,635,980
81,137
75,655
160,667
718,237
809,785
1,112,583
4,848,339
5,018,632
5,033,524
4,666,854
4,545,896
4,101,437
Repayment of mortgage
-1,150,000
-1,150,000
-1,150,000
-1,150,000
-1,150,000
-800,000
Planned payout/distributions
3,437,500
3,437,500
3,437,500
3,437,500
3,575,000
3,575,000
6.25
6.25
6.25
6.25
6.50
6.50
2,262,267
2,693,400
3,139,423
3,218,778
3,039,673
2,766,110
Cash flow before loan repayment and distributions
in % of original share capital p.a.
Liquidity reserve as of 31.12.
14
38,566
2,320,893
Loan balance as of 31.12.
85,850,000 84,700,000 83,550,000 82,400,000
Share capital as of 31.12.
50,880,500
81,250,000 80,450,000
47,443,000 44,005,500 40,568,000 36,993,000
33,418,000
2016
2017
2018
2019
2020
2021
2022
2023
2024
8,602,052
8,731,083
8,862,049
8,994,980
9,129,904
9,266,853
9,405,856
9,546,943
9,690,148
44,100
43,857
44,538
48,360
49,142
50,869
53,502
57,055
61,489
8,646,152
8,774,939
8,906,587
9,043,339
9,179,046
9,317,722
9,459,357
9,603,998
9,751,637
160,590
162,196
163,818
165,456
167,111
168,782
170,470
172,174
173,896
259,385
263,248
267,198
271,300
275,371
279,532
283,781
288,120
292,549
216,154
219,373
222,665
226,083
229,476
232,943
236,484
240,100
243,791
43,231
43,875
44,533
45,217
45,895
46,589
47,297
48,020
48,758
2,612,690
2,579,202
2,550,813
2,726,382
3,311,720
3,286,089
3,269,524
3,252,959
3,245,277
1,137,032
1,164,461
1,191,741
1,178,529
1,081,240
1,109,476
1,136,740
1,164,889
1,192,094
4,217,070
4,342,584
4,465,819
4,430,372
4,068,233
4,194,312
4,315,062
4,437,737
4,555,272
-800,000
-800,000
-800,000
-345,752
-389,008
-389,008
-389,008
-389,008
-389,008
3,575,000
3,575,000
3,575,000
3,575,000
3,575,000
3,575,000
3,575,000
3,575,000
3,575,000
6.50
6,50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
2,608,181
2,575,765
2,666,584
3,176,204
3,280,429
3,510,734
3,861,789
4,335,518
4,926,783
79,650,000
78,850,000
78,050,000
77,704,248
77,315,241
76,926,233
76,537,226
76,148,218
75,759,211
29,843,000
26,268,000
22,693,000
19,118,000
15,543,000
11,968,000
8,393,000
4,818,000
1,243,000
15
Your Partner
ACRON
ACRON HELVETIA I
Riedpark, Neerach
(sold 2006/2007)
ACRON HELVETIA I
Office and logistics property Waser,
Buchs
ACRON HELVETIA V
Office and logistics properties Fiege,
Münchenstein
ACRON HELVETIA IV
Radisson Blu Hotel, Zurich Airport
(sold 2009)
ACRON HELVETIA I
LSG Skychefs, Rümlang
(sold 2008)
Basel
Zurich
ACRON HELVETIA I
Office building Südpark Zuchwilerstrasse,
Solothurn
Solothurn
ACRON HELVETIA III
Office property T-Systems, Berne
Luzern
ACRON HELVETIA VI
Office and logistics property
Andreas Messerli AG, Wetzikon
Näfels
Glarus
Berne
Lausanne
ACRON HELVETIA VII
Office property PORTIKON,
Zurich-Opfikon
Saanen
St. Moritz
Geneva
ACRON HELVETIA IX
Retail park Näfels,
Näfels
Zermatt
ACRON HELVETIA II
Four-star hotel,
Gstaad-Saanen
Como
Many years of expertise
As initiator of indirect real estate investments, the
ACRON Group – as a family-run company
independent of banks – has been active in private
capital investments since 1981. The company has
been domiciled in Switzerland for over 20 years,
and since then it has realized eight real-estate
investments in Switzerland. With its total of 40
employees, ACRON takes care of all the tasks and
responsibilities relating to the concept and
realization of real estate projects, including
property and investment management, as well as
asset and property management of all investment
companies.
Vision
ACRON stands for innovative, transparent and
successful investments. The satisfaction and longterm retention of customers, business partners
and employees are ensured by operating like a
family business with good problem-solving skills
as well as confident and reliable interaction. The
success is clearly reflected for investors in internal
rates of return of 7 percent p.a. (Germany,
Switzerland) and 10 percent p.a. (U.S.). ACRON
will continue to grow from this basis.
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Mission
It is ACRON’s objective to increase the wealth of
investors: “Building Wealth”.
Strategy
The ACRON products of the core business are
based on real estate, which are primarily offered
as closed property investments structured as
(listed) “Aktiengesellschaft” (public company
limited by shares). Invariably the principle “One
Asset – One Company” applies. The core markets
for real estate acquisitions are Switzerland,
Germany and the U.S. ACRON has broad local
networks and sound market knowledge. Aside
from that, the company also plans to embark on
one or several Latin-American countries.
Three ACRON HELVETIA companies are already
listed on the Berne stock exchange, BX Berne
eXchange, and more will follow.
From left to right: Klaus W. Bender (Delegate of the Board of Directors ACRON AG, Zurich), Oliver Weinrich (Managing Director ACRON GmbH, Düsseldorf), Greg W. Wilson
(President ACRON USA), Kai Bender (Managing Director ACRON AG, Zurich), Peer Bender (Managing Director ACRON GmbH, Düsseldorf), Jürg Greter (President of the Board of
Directors ACRON AG, Zurich)
THE RESULTS OF THE ACRON HELVETIA SERIES SO FAR
Investment
volume
in CHF
Distributions,
accumulated
by the end of 2009,
in %
TargetActual
Distributions,
average
in % p.a.
Company
Investment property
ACRON HELVETIA I
Immobilien AG (2000)
– Office/public real estate and logistics
property, Buchs, Zurich
– Office property Südpark
Zuchwilerstrasse, Solothurn
34,259,445
57.30
52.30
5.81
ACRON HELVETIA II
Immobilien AG (2005)
Four-star Hotel Steigenberger,
Gstaad-Saanen, Berne
28,200,000
30.00
30.00
6.00
ACRON HELVETIA III
Immobilien AG (2005)
Office property T-Systems,
Münchenbuchsee, Bern-Zollikofen,
Berne
27,200,000
25.00
22.25
5.56
Radisson Blu Hotel,
ACRON HELVETIA IV
Immobilien AG* (2006/2009) Zurich Airport, Zurich
154,350,000
Sold (2009)
18.72 (IRR)
ACRON HELVETIA V
Immobilien AG (2010)
Office and logistics properties Fiege,
Münchenstein, Basel-Landschaft
27,100,000
ACRON HELVETIA VI
Immobilien AG (2009)
Office and logistics property Messerli,
Wetzikon, Zurich
18,800,000
6.50
6.53
6.53
ACRON HELVETIA VII
Immobilien AG (2009)
Office property Portikon, Glattpark,
Zurich-Opfikon, Zurich
142,000,000
6.25
6.29
6.29
ACRON HELVETIA IX
Immobilien AG (2010)
Retail park Näfels,
Näfels, Glarus
35,000,000
Forecast: 6.92 % p.a. for 15 years
Forecast: 6.67 % p.a. for 15 years
*Equity capital has been provided by means of a subordinated investor loan. In 2009, the initial investor of ACRON HELVETIA IV sold its investment to an
institutional investor and realized a substantial profit equivalent to an annual return (IRR) of approximately 19 percent. Even after the sale of the company,
which has since been renamed, ACRON AG continues to be responsible for its management.
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pOrtFOliO acrOn switzerland
With the exception of ACRON HELVETIA IV, ACRON is involved in all HELVETIA companies as a
founding shareholder with a capital of CHF 100,000.
acrOn helvetia i (Office and logistics property waser, buchs / Office property südpark, solothurn)
stock symbol ahan
ACRON HELVETIA I Immobilien Aktiengesellschaft owns two different properties: the office and
logistics property Waser in Buchs, Zurich, and the office property Südpark Zuchwilerstrasse in
Solothurn.
acrOn helvetia ii (steigenberger hotel, gstaad-saanen)
stock symbol ahbn
ACRON HELVETIA II Immobilien AG is the owner of the four-star Hotel Steigenberger GstaadSaanen, which is run by the Steigenberger Hotels AG, Thalwil. The lease agreement with
Steigenberger was entered into for a period of 25 years to 2030.
acrOn helvetia iii (Office building t-systems, berne)
stock symbol ahcn
The investment property of ACRON HELVETIA III Immobilien AG is an office building in BernZollikofen built in 2003. The property has been leased, until 2018, to T-Systems Schweiz AG,
a wholly owned subsidiary of German Telekom.
acrOn helvetia iv (radisson blu hotel, zurich airport)
ACRON HELVETIA IV was founded in the spring of 2006. Its name was changed following the
complete subscription for shares by a British investor. The sole shareholder sold all the shares of
the company in 2009. The IRR was 18.72 percent p.a. ACRON AG continues to be responsible
for the management of the company.
acrOn helvetia v (logistics and office properties Fiege, münchenstein)
ACRON HELVETIA V is the owner of the logistics and office properties of Fiege Logistik (Schweiz)
AG in the Dreispitz area in the economic region of Basel. These properties must be seen as an
economic unit. They have been leased to Fiege Logistik (Schweiz) AG in full on the basis of a
long-term lease agreement until at least 2024.
acrOn helvetia vi (Office property messerli, zurich)
ACRON HELVETIA VI Immobilien AG acquired on March 6, 2009, the office and logistics property
in Wetzikon, Zurich, that is leased to Andreas Messerli AG until February 2029. The share capital
cleared for distribution in the amount of CHF 7,700,000 was subscribed by two Swiss private
investors within as little as three months.
acrOn helvetia vii (Office property pOrtikOn, zurich)
ACRON HELVETIA VII Immobilien AG acquired the seven-story and fully-leased office property
Portikon on September 30, 2009, located in Glattpark in Zurich-Opfikon. The property is currently
the largest real estate in Switzerland to have been designed and built according to the Swiss
Minergie-P® standard.
acrOn helvetia ix (retail park näfels)
ACRON HELVETIA IX owns the retail park Näfels in the canton of Glarus, which was completed
in March 2010. The property has been leased in full and over the long term to six reputable retail
companies (e.g., Migros Zurich and ALDI SUISSE AG).
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19
photo credits
HOCHTIEF Development Schweiz AG, photographer: Lionel Samain
Pages: 5, 8, 13, 19
Hinweis: Dies ist eine unverbindliche Kurzinformation über das Beteiligungsangebot ohne Anspruch auf Vollständigkeit.
Massgeblich ist ausschliesslich der Verkaufsprospekt „ACRON HELVETIA VII Immobilien AG“ sowie etwaige Nachträge.
Note:
This document provides nonbinding summary information on the investment offer and does not claim to provide complete information.
Only the prospectus “ACRON HELVETIA VII Immobilien AG”, as well as any supplements thereto, is authoritative.
M
IN
G
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I
P
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®
ACRON HELVETIA VII IM MOBILIEN AG
ACRON AG
Stockerstrasse 8
8002 Zürich
Schweiz
fon
+41 . (0)44 . 20 43 400
fax
+41 . (0)44 . 20 43 409
mail
[email protected]
web
www.acron.ch
BUILDING WEALTH
ZÜRICH
DÜSSELDORF
DALLAS
TULSA