Streetbox Real Estate Fund: Almost 10% investment return
Procimmo's Streetbox Real Estate Fund reported an investment return of 9.78% for the past fiscal year.
Procimmo reports an investment return of 9.78% and a return on equity ("ROE") of 8.91% for the Streetbox Real Estate Fund for the past fiscal year (ended March 31, 2019). This compares to an investment return of 10.18% and a return on equity of 9.65% in the previous year. The dividend is expected to increase from CHF 14.50 to CHF 14.80 per unit.
The net asset value (NAV) is put at CHF 295.30 per unit compared to CHF 283.50 in the previous year. The fund's rental income increased by CHF 871,094 to around 8.97 million in the reporting period. According to Procimmo, total income amounted to approximately 9.13 million, compared to 8.59 million in the previous year. Expenses amounted to 6.39 million (previous year: 5.52 million).
Operating profit margin (EBIT margin) decreased from 62.43% to 52.97% compared to March 31, 2018. Total comprehensive income for the financial year increased from 10.71 to 10.86 million.
TER REF (GAV) decreased from 0.94% to 0.93%, and the leverage ratio also decreased slightly from 29.33% to 29.11%. Net fund assets amount to 126.8 million, total fund assets amount to 191.3 million.
The Streetbox Real Estate Fund invests primarily in modular warehouses in the economically strong conurbations of western Switzerland. (ah)
