ACRON HELVETIA V Immobilien AG

Logistics and Office Properties Fiege – Münchenstein, Basel-Country

The investment properties consist of two commercial properties set up in 1993 (Property 1, Genuastrasse 11) and 1998 (Property 2, Helsinkistrasse 12). They are connected by shuttle and form one economic unit. The properties are only a ten minutes´ drive from the city center of Basel, located within the "Dreispitz" area which spans an area of around 500,000 square meters, making it the largest self-contained commercial and services park in Basel. Due to its innovative development planning the "Dreispitz" area shows a great future potential.

The properties are fully leased to Fiege Logistik (Schweiz) AG, a subsidiary of the Fiege Group. The reputable tenant is number one in the European and number five in the global contract logistics market. A high income security is very likely due to the long-term lease to 2024 plus two extension options of 5 years each.

The total financing amount for the investment company is CHF 26.9 million. ACRON AG has placed shares in the amount of CHF 12.1 million with three investors and remains the founding shareholder of the investment company with CHF 100,000. The forecast distribution will range between 7.00 percent annually and 8.50 percent annually starting in 2011 until 2023. By at least 2016, the company will make distributions exclusively by way of tax-free par value reductions. Subsequently, there will be a combination of par value reductions and payment of a dividend. Due to the high redemption rate of 2 % p.a. for the loan amount, the already-conservative financing ratio of approx. 62 % based on the cost value in the year 2009 will amount to approx. 43 % after 15 years (2024).

Single Investment

Legal form	Swiss stock corporation CH-020.3.034.573-1
Address / registered office of the company	ACRON HELVETIA V Immobilien AG c/o Fiege Logistik (Schweiz) AG Genuastrasse 11 4142 Münchenstein Basel-Country Switzerland
Year issued	2010
Year closed	2011
Number of shareholders	4

The Property

Type of use	Logistics and office properties
Address	Helsinkistrasse 12 / Genuastrasse 11 4142 Münchenstein Basel-Country Switzerland
Year constructed	1993 / 1998
Site area	12,294 m² (132,283 sq. ft.)
Net leasable area	16,700 m² / 179,692 sq. ft. (of which 14,430 m² / 155,266 sq. ft. storage)
Occupancy rate in % of total area	100
Parking spaces	61, (53 of which are located in a parking garage)

The Tenant

Tenant	Fiege Logistik (Schweiz) AG
Lease term	Triple-net agreement with Fiege Logistik (Schweiz) AG; term until at least November 2024, plus two extension options of 5 years each Indexation according to the Swiss national index of consumer prices, price increases up to 2 % in full, graduated when above

Key Figures (in CHF)

Investment volume	26,900,000
Share capital	12,200,000
Borrowed funds	14,700,000