Procimmo Swiss Commercial Fund: 6.6% Investment return
Procimmo Swiss Commercial Fund reports an investment return of 6.6% for the first half of its financial year. Rental income also increased significantly.
As reported by Procimmo, rental income of the Procimmo Swiss Commercial Fund increased to approximately CHF 29.38 million as of December 31, 2020 - an increase of 8.5% compared to the previous year. The rental default rate in the first half of the year was 13.74% (PY: 15.28%).
Income increased from 27.73 to 29.50 million, while expenses amounted to 16.12 million (previous year: 15.12 million). Total income increased from 21.25 to 23.99 million. The investment return climbed from 5.18% to 6.61% as of December 31, 2020 (calculated over twelve months). EBIT margin also reportedly increased, rising from 61.86% to 64.69%.
The net asset value (NAV) of the real estate fund was CHF 140.35 per unit as of the reporting date (previous year: CHF 137.05). Net fund assets reached 752.91 million as of December 31, 2020, compared to 735.19 million in the previous year. Total fund assets increased to 1.08 billion from 994.18 million as of December 31, 2019). TER REF (GAV) remains unchanged at 0.94%. (ah)
