Swiss Prime Site Solutions has announced the key parameters for the eighteenth capital increase of the Akara Swiss Diversity Property Fund PK. The subscription period opens on Wednesday, November 11, and runs until Tuesday, December 1, 2026, at 12:00 CET. The release of the fund units is scheduled for Friday, December 11, 2026. The fund targets an emission volume of a maximum of 170,658 new units, utilizing a 13-to-one subscription ratio where thirteen existing units entitle the holder to purchase one new unit at an issue price of CHF 1,189.00 per unit, which includes incidental costs and the issue commission. The offering will be conducted on a best-effort basis as part of a subscription offer directed at eligible investors in Switzerland, and unsubscribed units will not be issued.
The calculation of the issue price is based on the net asset value per unit in accordance with the fund contract. The baseline net asset value per unit stood at CHF 1,161.39 as of June 30, 2026. This is supplemented by an allowance of CHF 15.84 for the predicted net asset value change from July 1 through December 11, 2026. Incidental costs account for 0.40 percent based on the projected net asset value per December 11, 2026, amounting to CHF 4.71, while the issue commission is set at 0.60 percent based on the same projected net asset value, equaling CHF 7.06. The new units share the same valor and ISIN designation of 33 349 032 and CH033 349 032 1, while the subscription rights carry the identifier 162 119 963 and CH162 119 963 2.
Proceeds from the capital increase will be channeled primarily into the strategy-compliant expansion of the portfolio, funding pre-secured acquisitions and active development projects. The vehicle maintains a project pipeline valued at approximately CHF 600 million extending to 2031, which is intended to increase the residential share from 50 percent recorded at mid-year 2026 to 56 percent and add more than 900 residential units. Upon completion, these projects are projected to generate an annual target rental income of approximately CHF 25 million.
During the first half of 2026, the Akara Fund generated an investment return of 2.56 percent, supported by a cash flow return of 1.60 percent and a valuation change return of 0.96 percent. The preceding seventeenth capital increase was oversubscribed, enabling portfolio expansion to 150 properties with a market value of CHF 3.32 billion, alongside a more than nine percent increase in rental income to roughly CHF 54 million. Portfolio optimization efforts during the period also included the acquisition of seven properties carrying a fair value of approximately CHF 288 million and targeted sales that realized capital gains of about CHF 4.4 million.
Open exclusively to tax-exempt institutions domiciled in Switzerland within the second and third pension pillars, alongside social security and compensation funds, the fund operates with a total asset volume exceeding CHF 3.0 billion. Valuations are determined by the net asset value without premiums or discounts to reduce volatility, focusing on residential and commercial properties held predominantly on a direct basis. Banque Cantonale Vaudoise acts as the depositary bank, PricewaterhouseCoopers AG serves as the valuation expert, KPMG AG functions as the auditing firm, and Swiss Prime Site Solutions AG oversees fund management and portfolio management.
