New Patrimonium Investment Foundation makes its first purchase
Patrimonium Anlagestiftung Gesundheitsimmobilien Schweiz completed its first transaction on September 1. The property of the CIC Riviera clinic in Clarens was acquired. The purchase comprises the existing property and an extension project with a total value after completion of around CHF 48 million. Patrimonium puts the net cash flow yield at around 5.5 percent.
Patrimonium launched its second investment group in the real estate investment category in August; it invests in properties in the healthcare sector for inpatient and outpatient medical treatment, as well as in the retirement and senior living sector. Growing demand for healthcare services and demographic trends are leading to above-average growth in the healthcare market in Switzerland, Patrimonium said. Real estate in the healthcare sector is leased to operators under long-term leases and is suitable as a diversification to residential or commercial property portfolios.
The first capital call of CHF 22 million and the payment of the entitlements took place as of August 31, 2015 at a price of CHF 1,000 per entitlement. The investment group's income is distributed annually with the possibility of reinvestment free of charge. A distribution yield of four to five percent is expected and an investment return of more than five percent is targeted.
The portfolio manager of the new investment group is Patrimonium Asset Management AG. (ah)
