Swiss Central City significantly increases portfolio value
The Swiss Central City Real Estate Fund significantly expanded its property portfolio in fiscal year 2021. The market value increased by 46%.
The portfolio of the Swiss Central City Real Estate Fund has grown through acquisitions of nine residential properties, three mixed-use buildings and one commercial property, the fund management company Nova Property Fund Management says. The market value as of December 31, 2021 was CHF 479.1 million, up 46% from the previous year.
According to preliminary and unaudited figures, rental income also increased in line with the portfolio expansion: They reportedly increased by 128% and reached 13.6 million (2020: 6.0 million). Annual target rental income rose from 11.8 million to 16.5 million, and the residential ratio was 54%. The fund's total income doubled year-on-year to 15.5 million (2020: 7.7 million), Nova Property added.
Total fund assets increased from 333.8 million to 485.1 million, and net fund assets as of the 2021 balance sheet date were 415.9 million (2020: 244.4 million). The net asset value per unit reached CHF 109.40 (2020: CHF 107.15). The distribution is expected to be CHF 2.50 per fund unit (previous year: CHF 2.10). (ah)
