Streetbox Real Estate Fund yields 10.7%
The Streetbox Real Estate Fund reported a twelve-month return on equity of 10.67% for the first half of the year. In the previous year, the fund returned 10.15%.
The net return of the fund reportedly increased from CHF 1.06 million to CHF 1.89 million. The investment return over twelve months is 11.52%. The net asset value (NAV) increased year-on-year from CHF 277.90 to CHF 293.40 per unit.
The Fund's rental income increased by over 10% to 4.8 million. Total income is put at 4.8 million - compared with 4.4 million in the previous year. Total expenses amounted to 2.9 million (previous year: 3.3 million).
The operating profit margin (Ebit margin) increased from 50.77% to 61.24%, the total profit for the accounting year is 5.55 million, according to the fund data. In the previous year, it was 3.64 million.
Net fund assets are 126 million as of September 30, 2019, and total fund assets are 197 million. The rent default rate decreased from 19.42% to 16.90%. TER REF (GAV) decreased from 0.97% to 0.91%.
As Procimmo further announces, the Streetbox fund will be managed by a new fund manager in the future: Pascal Linh will succeed Frédéric Noirot no later than April 1, 2020. Linh most recently worked for Wüest Partner in Geneva, where he was involved in real estate appraisals and analyses. (ah)
