Realstone expects only minor impact from Covid-19
According to the fund management company, the two Realstone funds Development and Swiss Property are currently little affected by the Covid-19 pandemic.
The Realstone Development Fund (RDF) only generates 3.1% of its rental income from businesses affected by the ordered closures, according to the fund management. These include restaurants, non-food stores and cinemas. A further 8% of rental income comes from tenants in offices and commercial properties that have had to slow down their activities due to the pandemic. Commercial properties not affected by the closures, such as grocery stores, pharmacies or clinics, accounted for 25.6% of rental income, while 56.2% came from residential use and 7% from other unaffected rentals, such as parking lots and warehouses.
For the Realstone Swiss Property (RSP) fund, 6.5% of rental income comes from commercial properties that are currently closed and a further 5.1% from properties whose tenants have at least had to slow down their business activities. The remainder is divided between residential properties (55.6%), unaffected commercial properties (25.7%) and other unaffected rentals (7.2%).
As a result of the lockdown ordered by the Federal Council, the real estate sector is currently facing applications for rent deferrals and reductions. However, according to Realstone, the fund management is of the opinion that the rents are still owed. Tenants' applications will be examined on a case-by-case basis according to objective criteria. (ah)
