Realstone fund increases net profit by 130 percent
The Realstone Development Fund significantly increased its net profit in the 2017 financial year. It rose by 130 percent to CHF 7.6 million.
The listed fund achieved a performance of 10.51%, outperforming the benchmark index SXI Real Estate Funds, which stood at 6.6%. The return on investment was 4.52 percent. A dividend of CHF 1.16 per unit will be paid out for the 2017 financial year.
Total fund assets rose by 38% to CHF 906 million in the 2017 financial year. According to the fund management company, the acquisition of Octagon Parc (GE) and investments in the ongoing projects in Horgen Oberdorf (ZH) and Arsenaux (FR) were the growth drivers. Octagon Parc in Geneva was acquired in November 2017 for 130 million. The property comprises around 22,000 square meters of retail space and, according to the fund, has development potential of 7,000 square meters of additional gross floor space.
Rental income increased by 36.7 percent to 23.2 million. According to the Realstone Development Fund, this was due in particular to the Sébeillon (Lausanne) and Square Haldimand (Yverdon-les-Bains) projects.
