PSCF 2 aspires to the stock exchange
Procimmo Swiss Commercial Fund II (PSCF 2) is to be listed on the stock exchange. This is announced by the fund management at the presentation of the half-year results.
It is planned to convert Procimmo Swiss Commercial Fund II (PSCF 2) into a public fund and list it on the SIX Swiss Exchange at the end of 2020 or beginning of 2021, according to the release of the half-year results.
PSCF 2 closed the first half of 2020 with a net income of approximately CHF 9.17 million, which is 8.8% more than in the same period last year. The total income amounts to 8.55 million. Rental income increased by over 24% to 13.65 million. The net asset value (NAV) was CHF 117.42 per unit as of March 31, 2020 (PY: CHF 117.39).
According to the fund management company, total fund assets as of March 31 were 539 million, while net fund assets were 367 million. The investment return is put at 4.67%. The fund's leverage ratio was 31.62%, and the operating profit margin (EBIT) reached 73.52%. The rent default rate decreased significantly from 20.50% to 14.75% compared to the previous year. The TER REF (GAV) decreased from 0.96% to 0.87%.
The fund management company plans to use the additional funds from the capital increase in March this year to acquire further commercial and industrial properties in German-speaking Switzerland in the coming months and to develop existing potential in the real estate portfolio. As of March 31, 2020, PSCF 2 holds 30 properties in the cantons of Aargau, Basel-Land, Bern, Fribourg, Grisons, Lucerne, Solothurn and Zurich. (ah)
