Patrimonium fund PSREF continues to grow
Between April 1 and September 30, 2015, Patrimonium Swiss Real Estate Fund (PSREF) continued its growth and portfolio optimization. As of September 30, 2015, the portfolio consists of 49 residential properties, seven mixed-use properties, four commercial properties and one new construction project with a total value of CHF 637 million. (March 31, 2015: 618 million).
The net asset value increased during the period from CHF 117.90 (March 31, 2015 after distribution) to CHF 120.91. The debt ratio amounts to 29.62 percent.
As of October 1, 2015, PSREF acquired a co-ownership share of 67 percent in the commercial site "Spinnerei an der Lorze" in Baar for approximately CHF 52 million. The remaining 33 percent is held by Patrimonium Anlagestiftung. The site, with a land area of 47,839 square meters, has two building sections, which are used as offices, commercial and retail space. In order to increase the attractiveness of the area, a new neighborhood plan with apartments is to be developed.
The new construction project in Echandens (VD) was completed as of July 31, 2015 and is fully leased. The new construction project in the Erlenmatt/Basel-Stadt district was completed at the end of October with an occupancy date from mid-November.
In March 2016, the renovations of the properties in Prilly (VD) and Aigle (VD) are scheduled to be completed, and the overall renovations of the properties in Meyrin (GE) and Veyrier (GE) will start at the beginning of 2016. In addition, property upgrades in the cantons of Geneva and Vaud are planned for 2017. (ah)
