Patrimonium Swiss Real Estate Fund yields 6.2 percent
Patrimonium Swiss Real Estate Fund has achieved an investment return of 6.21% in fiscal year 2020/21. The performance amounts to 19.78%.
Rental income of the residential-focused Patrimonium Swiss Real Estate Fund (PSREF) increased from CHF 43.5 million to CHF 44.8 million in the reporting period. Net asset value (NAV) per unit after distribution increased from CHF 135.27 to CHF 139.97, corresponding to an investment return of 6.21%, according to Patrimonium Asset Management. The dividend will be CHF 3.70 per fund unit.
Revenue in fiscal 2020/21 increased by 1.38 million, up 3.2% from the previous year. The market value of the properties reportedly increased from 979.71 million to 1.06 billion. Value and income growth of the fund was mainly due to the acquisition of the property at Général-Guisan 74-78 in Vevey (VD) and completions of construction projects in Montreux, Crissier and Basel-City, Patrimonium said. According to Wüest Partner, the average rent increase potential is around CHF 33/sqm/year.
As of March 31, 2021, the PSREF portfolio consisted of 54 residential properties, nine mixed-use properties, and six commercial properties.
As the acquisition of real estate is demanding while complying with investment criteria, the fund aims to grow with, among other things, upsizing and densification projects, including in Meyrin (GE), Geneva, Bulle (FR) and Baar (ZG). As a result, the fund's rental income should exceed the CHF 50 million mark in five years, Patrimonium announces. (ah)
