UBS presents financial statements of investment groups
UBS has published the financial statements of the investment groups UBS AST Real Estate Switzerland and UBS AST Commercial Real Estate Switzerland.
The UBS AST Real Estate Switzerland (AST-IS) investment group achieved an investment return of 6.4%, UBS says. Rental income had increased by 8%.
At the close of business, the portfolio consisted of 131 properties with a market value of around CHF 2.3 billion. A contribution in kind in Lugano was added most recently.
The UBS AST Commercial Real Estate Switzerland (AST-KIS) investment group delivered a "solid performance" of 4.3% in fiscal 2018/19 "despite a persistently challenging market environment," UBS said. The distribution will remain unchanged at CHF35 per entitlement, it added.
The investment group's real estate portfolio consists of 41 properties with a market value of around 688 million. Rental income increased by 5% to 36.7 million. It succeeded in entering into "strategically exciting partnerships" with new tenants and renewing larger expiring leases, UBS added. (ah)
