Senior residence expands portfolio

In the second half of the year, Senioresidenz AG acquired three properties and two construction projects in the areas of senior residences and age-appropriate living, respectively. As a result of the acquisitions, the target rental income of the investment properties also increased by 11% to CHF 10.6 million (2020: 9.5 million), the real estate company announced in the presentation of its annual report. 91% of the target rental income is generated from properties in the main strategy of senior citizen properties and care facilities and 9% from properties in the secondary strategy (residential forms such as student apartments, business apartments, staff apartments). The valuation of the real estate portfolio of 18 investment properties resulted in a small gain on revaluation of 0.2 million (2020: -0.1 million).

Rental income increased by 11% to 9.6 million (2020: 8.7 million), the majority of which was due to the purchase of a property with student apartments in Hergiswil in December 2020, Senioresidenz said. The vacancy rate was 0.3% (Dec. 31, 2020: 1.0%), and gross and net yields remained at the previous year's level of 5.0% and 4.6%, respectively, it said.

Ebit increased slightly from 5.8 million to 5.9 million. Profit including revaluation result increased from 4.1 million to 4.3 million, while profit excluding revaluation result remained stable at 4.1 million.

In 2022, the company plans to further expand its property portfolio "as opportunities arise," Senioresidenz says. With its focus on real estate for retirement and senior residences, new forms of living for the third phase of life, and medical and care facilities, the company has a robust business model, it adds. As the demand for senior residences and care facilities as well as affordable housing for people in old age will increase, the investment strategy will remain unchanged, it said. (ah)