Immo56: Rental income increased by 10 %
The Immo56 fund recorded a lower return on investment, but was able to increase rental income and reduce financing costs.
The "Immo56" fund managed by Procimmo increased rental income by 10% to CHF 22.2 million in its financial year ending March. The net asset value (NAV) increased from CHF 154.00 to CHF 157.30 compared to the last financial year, and the dividend per unit remains constant at CHF 5.20.
The return on investment decreased from 7.54% to 5.71%, and the return on equity (ROE) also declined (from 6.84 to 5.52%). The distribution yield changed only slightly and now stands at 3.31% (previous year: 3.38%).
Following the acquisition of two new residential buildings, the portfolio now consists of 46 buildings with a theoretical annual rental income of CHF 23.25 million. These are the properties purchased in December 2021 in Villeneuve (VD), "Route de Praz-Bérard" 28-30, and in La Conversion/Lutry (VD), "Route de Corsy" 5.
Rising interest rates did not yet make themselves felt in the past fiscal year - rather the opposite: the renegotiation of mortgage contracts led to a significant reduction in the average weighted interest rate from 1.51 to 1.28%. (aw)
