Realstone Swiss Property increases rental income
Realstone Swiss Property real estate fund has increased its rental income by 3.4% in the 2020/21 financial year. The net result has also increased.
Realstone Swiss Property's rental income rose by 3.41 %, or CHF 1.77 million, to CHF 53.56 million in the past fiscal year, according to the fund management company. The rent default rate fell from 5.74% to 5.01% as of March 31, 2021, it said. Total income is put at 54.70 million, up 4.50%.
Total expenses increased byTP2T 4.751 to just under 30 million in the reporting period, resulting in a net profit ofTP24.70 million. This is 4.20% more than in the previous year. In addition, there is a gain of 1.30 million from the sale of the property in Möriken-Wildegg (AG). Unrealized gains from revaluations amount to 6.53 million after liquidation taxes.
Realstone Swiss Property's total assets reportedly increased byTP2T5.501 billion toTP1.21 billion during the period, thanks in part to revaluations of properties in the portfolio, investments in projects and acquisitions.
Net assets increased by 7.52% to 874.17 million. The net asset value (NAV) per unit is put at CHF 124.73, the annual investment return at 3.86 %. As in the previous year, a dividend of CHF 3.65/unit is to be distributed.
The financial year 2020/21 was the last of Realstone Swiss Property before its merger with Realstone Development Fund. The fund merger will be completed on May 31, 2021, retroactive to April 1, 2021. The new Realstone fund will hold a real estate portfolio of CHF 2.26 billion. (ah)
