Themis Real Estate SICAV

Real estate SICAV under Swiss law managed by Themis Capital SA

Real estate SICAV

Themis Real Estate SICAV is a real estate SICAV under Swiss law managed by Themis Capital SA with the objective of direct and sustainable investment in residential and mixed-use properties in Switzerland.

A SICAV is a investment company with variable capital. It is an investment vehicle that gives investors the status of shareholders. The investor shareholders therefore have a right of review and vote at the general meeting and can influence the course of business. It is this active and participatory aspect, which does not exist in the context of an investment fund, that we wanted to emphasize in our relations with investors.

The investors are represented by the fund management company CACEIS (Switzerland) SA, Nyon; the custodian bank CACEIS Bank, Montrouge, Nyon branch, Switzerland, as well as the collective asset manager Themis Capital SA, Lausanne, who are fully liable to the investors.

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The real estate SICAV in a few points

Shares held by investors (resident in Switzerland) are not taxable as assets and are not subject to withholding tax.

At the time of the first subscription, the share has no premium, unlike listed funds.

The liquidity of the real estate assets is improved.

A 30% share of foreign investors is possible.

The real estate portfolio is diversified and the SICAV is regulated by the FINMA, as is the manager Themis Capital SA.

The shares can be pledged to obtain a lombard loan.

Investing in Switzerland

Organigram and partners

Board of Directors
Themis Real Estate SICAV

Me Laurent Schenk

President


Christina Riva

Vice-President


Christophe-Eric Lanz

Member


Juan Pedro Iglesias Lemos

Member

Philosophy of the sub-fund Themis Property I

TRES sub-fund TP1 has delegated the management to Themis Capital SA. Its objective is to provide a regular return to its investors through dynamic and creative management, in particular through :

  • Retaining tenants by providing them with something more than just a home in return for rent.
  • An entrepreneurial approach through the effective use of digital tools (Prop Tech).
  • A proactive approach to anticipate structural changes in the market (e.g. the impact of Covid-19 will change the organisation of work and society).
  • A proactive orientation towards renewable energies and energy efficiency in order to make the portfolio’s assets less energy intensive and thus move towards the zero emission target by 2050 set by the Federal Council.

The aim of this approach is to keep people at the centre of our concerns.

Investing in sustainable real estate

Investment strategy

Teleworking is becoming more widespread and should become a habit. This is generating a rapid shift of interest from the population to housing located outside the major urban centres, closer to nature but with easy access to public transport.

The aim is to maintain the substance of the investments over the long term and to distribute regular income to investors, with a target gross yield of over 4%.

The properties may be residential, commercial or mixed use. A minimum of 60% of the assets will be invested in residential properties and a maximum of 40% in commercial properties.

The strategy of the Themis Property 1 sub-fund of the SICAV is based on two axes:

Traditional acquisitions and contributions in kind (asset-swaps).

Traditional acquisition

The traditional acquisitions will constitute a portfolio mainly made up of human-sized properties, from 4 to 10 flats and worth between CHF 1 and 10 million. The geographical areas sought are suburban centres with more than 3,000 inhabitants and good transport links, or urban centres offering opportunities. French-speaking Switzerland will be favoured, but a geographical diversification towards German-speaking Switzerland will bring stability to the portfolio.
Jointly owned property may be acquired provided that the SICAV is the majority owner.

Contributions in kind (asset-swaps)

Contributions in kind of real estate (asset-swaps) allow the integration of larger properties. The real estate investor has the possibility to integrate the SICAV through an asset-swap (full or fractional contribution in kind).
The main advantages of the asset-swap are the following:
– Fiscal and patrimonial optimization (succession)
– Professional property management and economies of scale
– Diversification and better risk spreading
– Regulatory oversight (manager and SICAV)

Benefits of the investment strategy

  • The size of the targeted properties is too small for institutional investors and too large for most private investors. This market niche is therefore less competitive to buy. In addition, these properties are generally well maintained and less expensive in terms of charges.
  • This category of property often offers tenants cheaper than average rents, making them more attractive and less likely to be badly affected in a market downturn.
  • The liquidity of the Themis Property 1 sub-fund is facilitated by the large number of small properties, making it possible to meet a possible redemption request without unbalancing the portfolio by selling a property representing a large proportion of the investments.
  • The composition of the initial portfolio is more balanced, thus providing a better spread of risk and ensuring more liquidity for investors.

Dynamic investment

Active management of the properties is implemented to both improve their attractiveness and retain tenants, as well as to increase their long-term value in the interest of investors.

Themis Capital SA intends to make maximum use of Prop Tech’s remote management tools. Thanks in particular to sensors installed in the buildings, it is possible to monitor consumption and the life of objects as closely as possible, and thus to better plan future investments.

In order to better anticipate demands and changes in these, Themis Capital SA maintains direct contact with the tenants, thus playing the role of a super-management. A proactive sustainable approach is implemented to integrate environmental and social aspects into all processes.

News

The advantages of indirect property investment

Yann Tavernier, CEO and founder of Themis Capital SA Indirect real estate reduces risk and brings significant tax benefits. Many property owners know the pain of dealing with problems, maintenance, management supervision and the impact of taxation on the income from their investment, which is only decreasing in a world of virtually zero interest rates….