SF Commercial Properties Fund expands portfolio
The real estate fund SF Commercial Properties Fund expanded its portfolio to a market value of CHF 247.5 million in the first half of 2018, according to the fund management company Swiss Finance & Property Funds.
The SF Commercial Properties Fund has been granted of a capital increase in November 2017 received new capital in the amount of CHF 126 million. The funds were used to acquire two properties in the first half of 2018. Via share deal, the fund purchased a fully leased property in Buchs (AG) at a market value of 28.5 million, and on April 1, it acquired a commercial property in Allschwil (BL) for 10.0 million.
The portfolio on the reporting date thus comprised 15 properties with a market value of 247.5 million, and the average gross yield of the entire portfolio was 6.7 percent, according to the fund management company. In March, CHF 4.25 per unit was distributed to investors.
As a result of the acquisitions, the leasable area of the portfolio has increased to around 126,500 sqm, with annual target rental income of 16.56 million, Swiss Finance & Property Funds adds. Logistics, warehouse and industrial uses account for the majority of the space. The average term of all leases increased from 3.4 to 4.5 years during the period under review. The vacancy rate fell from 7.9 to 7.2 percent in the first half of 2018. Two leases have already been signed at City Plaza Dietikon, it adds. (ah)
