Patrimonium fund with 9.4 percent performance
The Patrimonium Real Estate Fund reported a performance of 9.4% for the 2016/17 financial year. Rental income rose by almost ten percent.
The net asset value (NAV) per unit after distribution increased from CHF 122.37 to CHF 126.09, which corresponds to an investment return of 5.7 percent.
The Patrimonium Real Estate Fund's total rental income rose by 9.65% to over 38.1 million in the reporting year. The approximately 3.4 million additional rental income compared to the previous year is partly due to the full letting of the properties in Echandens (VD) and Erlenmatt (BS), the acquisition of the property at 59-63 Rue Virginio-Malnati in Meyrin (GE) and rent increases following renovations, according to the fund. According to Wüest Partner, the average potential rent increase for residential use is CHF 39/sqm/year.
At the end of the 2017 financial year (March 31), the portfolio consisted of 49 residential properties, seven mixed-use properties and five commercial properties with a total value of EUR 740 million (previous year: EUR 709 million).
Over the course of the financial year, the Patrimonium Swiss Real Estate Fund sold two properties in Grenchen (SO) for around five million. The fund also acquired the property with 36 apartments in Meyrin for 11.8 million in December 2016.
With a new construction project in Montreux, increases in the stock levels of properties and the development potential of the Lorze site in Baar, further profitable growth of the fund is expected in the coming financial year, according to Patrimonium. It also intends to optimize the existing portfolio and renovate properties with the aim of securing and increasing rental income.
The fund invests in residential and mixed-use properties, with a focus on residential properties in the lower and medium rental price segments, primarily in the Lake Geneva region and along the Fribourg, Berne, Basel and Zug axis.
