PSREF cracks the billion mark
The Patrimonium Swiss Real Estate Fund (PSREF) reports that it now manages real estate assets of more than CHF 1 billion at the end of the first half of the current financial year.
The Patrimonium Swiss Real Estate Fund (PSREF), which focuses on residential properties, was founded in 2007 and has since built up a portfolio of 68 properties. As at September 30, 2020, it consisted of 54 residential properties, eight mixed-use properties, five commercial properties and one new construction project with a total market value of around CHF 1 billion. (31.03.2020: CHF 979 million).
The net asset value per unit recently rose from CHF 135.27 (after distribution) to CHF 136.98. The gearing ratio is 23.82% (31.03.2020: 20.40%) and the average interest rate is 1.15%.
According to the fund, two expansion projects are currently being realized with planned completion in 2021. The projects started in Crissier, Montreux and Basel in recent years have been completed and some have already been let. This is expected to generate additional income of 5 million. Annual rental income is expected to rise to over 44 million by the end of the fund's year in March 2021. (ah)
