ACRON HELVETIA II Immobilien AG

****Steigenberger Alpenhotel and Spa - Gstaad-Saanen, Bern

ACRON HELVETIA II Immobilien AG holds the four-star Steigenberger Alpenhotel and Spa investment property in the popular tourist destination of Gstaad-Saanen, Switzerland. Featuring 132 rooms and six conference rooms, it is one of the top hotels in the Bernese Oberland region and also holds an important place in the seminar segment. The tenant is Steigenberger Hotels AG of Thalwil, which has successfully managed the hotel since the early 1980s.

The investment offering with total financing of CHF 28.2 million was fully placed within just six months. The distribution amounts to an average of 6.72 percent annually.

The shares of ACRON HELVETIA II Immobilien AG have been listed on the BX Berne eXchange since June 30, 2009 (www.acron-helvetia2.ch).

Legal form	Swiss stock corporation CH-092.3.017.059-2
Address / registered office of the company	ACRON HELVETIA II Immobilien AG c/o Steigenberger Hotels AG Steigenberger Alpenhotel and Spa, Gstaad-Saanen Auf der Halten 3792 Saanen Switzerland
Year issued	2005
Year closed	2006
Number of shareholders	74

The Property

Type of use	****Steigenberger Hotel and Spa
Address	Auf der Halten 3792 Saanen Switzerland
Year constructed	1979/1980 (expanded in 1990)
Site area	13,633 m² (146,691 sq. ft.)
Net leasable area	3,441 m² (37,025 sq.ft.)
Occupancy rate in % of total area	100
Parking spaces	125 (70 of which are located in a parking garage)

The Lease

Lessee	Steigenberger Hotels AG, Thalwil, Switzerland
Lease	25-year lease until December 31, 2030 with letter of comfort by Steigenberger Hotels AG, Frankfurt, Germany

Key Figures (in CHF)

Investment volume	28,200,000
Share capital	10,350,000
Borrowed funds	17,850,000