Patrimonium AST: Investment assets rise to 1.1 billion
Patrimonium Investment Foundation increased its investment assets to CHF 1.1 billion in the first half of the 2021 financial year. Both the residential real estate investment group Switzerland and the healthcare real estate investment group Switzerland increased, Patrimonium reports.
The Residential Real Estate Switzerland investment group increased its assets by CHF 40 million to CHF 752 million in the reporting period, according to Patrimonium. Part of the growth was due to the mid-year valuation round. Among other things, the value of the property in Lausanne-Malley (VD) developed positively. It is the first of four development projects in the portfolio that will come to fruition from 2022/2023. A property was acquired in Bern-Bümpliz, and portfolio properties in Geneva, Yverdon (VD), Grand-Lancy (GE), Vouvry (VS) and Spreitenbach (AG) are being modernized.
As of June 30, 2021, the portfolio consists of 59 existing properties, one ongoing new construction project in Kriens (LU) and one undeveloped property. The share of residential properties amounts to 85%. More than half of the properties are located in Western Switzerland and the Lake Geneva region.
Strategic acquisition for the investment group Healthcare Real Estate Switzerland
The investment group Healthcare Real Estate Switzerland acquired a building land parcel in Ingenbohl-Brunnen (SZ) for CHF 10 million during the semester. The plot is adjacent to the existing Seeklinikum Brunnen property and allows various uses, Patrimonium said. In addition, investments of more than 9 million were made in the ongoing new construction projects in Crissier (VD), Boudry (NE) and Orbe (VD), it said. As of the end of June 2021, fixed assets increased by 25 million to 339 million due to the transaction, investments in the ongoing construction projects and a positive valuation round.
As of June 30, 2021, the portfolio consists of twelve properties, including eight existing properties, two new construction projects and two undeveloped properties. 47% of the portfolio's rental income is attributable to clinics, 16% to medical centers, 13% to senior living, and 12% to nursing homes, with the remainder distributed among other healthcare uses, office, commercial, and residential. According to Patrimonium, the remaining term of the commercial leases is approximately 20 years.
Both investment groups are expected to grow both organically and through acquisitions, Patrimonium says. For the financing, further capital calls are expected next year. (ah)
