BFW Liegenschaften divests itself of properties
BFW Liegenschaften has sold two residential properties in Dulliken (SO), and another four properties are still to be sold according to the company's plans.
The background to the sales of the individual properties is a portfolio rounding off, BFW Liegenschaften informs. At the beginning of 2018, the real estate company has already sold two residential properties in Sevelen (SG) and Aristau (AG). The properties in Dulliken, which BFW parted with in August 2018, would have changed hands at values above the DCF property valuations of the independent real estate appraiser as of year-end 2017. According to the company, the sale of three smaller residential and commercial properties and one residential property is still planned.
According to preliminary and unaudited results, BFW Liegenschaften generated EBIT of CHF 15.8 million in the first half of 2018 (previous year: 16.3 million). Profit including revaluation gains was 13.4 million (previous year: 13.2 million), and profit excluding revaluation gains reached 7.5 million (previous year: 5.9 million).
Income from rentals fell from 8.7 to 7.8 million, with BFW citing property sales in particular as the reason. The company recorded a gain of 2.0 million from the sale of the investment properties in Sevelen and Aristau in the first half of 2018. The market valuation of the real estate portfolio resulted in income from revaluation of 7.5 million (previous year 9.1 million).
The 2018 half-year report will be published on September 13, 2018. (ah)
