Realstone invests in western Switzerland
The Realstone Swiss Property fund has acquired a portfolio of six properties in Vevey, Renens, Crissier, Cheseaux-sur-Lausanne, la Chaux-de-Fonds and Fribourg.
According to a statement from the fund company, the portfolio consists of 212 residential units with a total living space of 13,858 sqm. The investment volume is reportedly CHF 69 million, and the apartments generate gross rental income of 2.74 million.
More than 80% of the residential units are one- to three-bedroom apartments, it said. There is "significant value-add potential with a rental reserve of 20%," Realstone said. In addition, it said, adding more stories to the buildings is possible. The houses are in good condition and do not require significant investment in the coming years, it said.
With the acquisition, the residential portion of the Realstone Swiss Property fund increases from 62% to 63%. The fund's leverage ratio increases from 25% as of September 30, 2019 to now 29%. (ah)
