Solvalor 61 increases earnings
The Solvalor 61 real estate fund closes the 2019/20 fiscal year with a total result of CHF 46.9 million, which is about 23% more than the previous year.
Of the total annual result of CHF 46.9 million, approximately CHF 21.8 million is attributable to the increase in value of the real estate portfolio, according to Solvalor 61. Total income increased by 2.3%, in particular due to rental income from a purchased residential property at 1, 3, 5, 7 Rue Guye in Geneva and efforts to reduce the vacancy rate, it adds.
The fund's total assets grew by almost 17% in the 2019/20 financial year, amounting to around 1.14 billion as of June 30, 2020. The reason for the increase was the purchase of two new construction projects in Nyon (Clos Falconnier 16-18, Clos Falconnier 33-35-37-39) and Lausanne (Avenue Sainte-Luce 9), as well as the acquisition of the Geneva property with a total of 281 residential units. The fund now holds 110 buildings, almost exclusively residential. In order to reduce the economic age of the fund's properties, the Solvalor 61 intends to purchase new real estate projects and tackle renovations.
The net asset value per unit (NAV) was CHF 203.34; the investment return for the 2019/20 financial year is put at 5.4%. Per unit, the fund distributes a dividend of CHF 5.30, which is CHF 0.10 more than in the previous year. (ah)
