SF Commercial Properties Fund: Sale in Dietikon
By selling a large property in Dietikon, the fund halved the vacancy rate to 6.6 %.
The SF Commercial Properties Fund has sold its property at Lerzenstrasse 10 in Dietikon as of January 1, 2024. As the fund writes in an ad hoc release, the vacancy rate in the property has been steadily reduced in recent years. However, further vacancy reduction would have tied up considerable resources for marketing, providing the space and investing in the building, according to the fund. These expenses would have had a disproportionate impact on the income of the overall portfolio. The decision was therefore made to sell the property.
The sale will lead to a reduction in the net asset value (NAV) of CHF 4.75 per share, the press release explains further.
The divestment will substantially strengthen the portfolio's earning power: the portfolio's debt financing ratio will be 23% after the sale, which will create potential for acquisition opportunities and development projects. At the same time, the vacancy rate will fall significantly from 13.9% on June 30, 2023 to around 6.6%. At the same time, net income will improve considerably, which could sustainably strengthen the distribution, the SF Commercial Properties Fund added. (ah)
