Realstone Swiss Property plans capital increase
The Realstone Swiss Property real estate fund plans to increase its capital by up to CHF 54 million. The fund reported an increase in earnings and income for the past financial year.
The fund management company of Realstone Swiss Property announces a capital increase of around CHF 54 million for the period from June 29 to July 7, 2020. The official trading of the subscription rights will take place on the SIX Swiss Exchange from June 29 to July 3; the payment is to take place on July 14. 15 currently held shares will entitle the holder to subscribe for one new share at the issue price of CHF 124.30. A total of up to 438,023 new shares will be issued.
The fund intends to use the proceeds to finance ongoing construction, renovation and extension work and repay external loans, among other things.
Investment return of 4.3%
For the 2019/2020 financial year, which ended on March 31, 2020, the fund reported a return on investment of 4.3%; the dividend amounts to CHF 3.65 per unit. Gross fund assets increased by 8.1% to 1.15 billion. According to Realstone, the main reason for this growth was the acquisition of residential properties with a total investment volume of 87.2 million. The properties are located in Richterswil (ZH), Basel, Vevey (VD), Renens (VD), Crissier (VD), Cheseaux-sur-Lausanne (VD), La Chaux-de-Fonds (NE) and Fribourg and comprise a total of 242 apartments.
The fund's real estate portfolio currently comprises 68 properties. According to the information provided, the rental loss rate fell from €7.31TP3k in the previous year to €5.71TP3k. Rental income increased by 4.6% to 51.8 million.
Net assets grew by 1.2%, the fund added. The net asset value (NAV) per unit was CHF 123.74 as at March 31, 2020. The full-year result increased by 44.1% to 33.3 million, according to the statement. (ah)
