Patrimonium Swiss Real Estate Fund increases NAV
In a difficult economic environment, the Patrimonium Swiss Real Estate Fund is satisfied with its performance in the first half of the current financial year. A major site development is scheduled to go ahead in 2023.
Patrimonium Swiss Real Estate Fund (PSREF) increased its net asset value per unit from CHF146.76 (after distribution) to CHF148.44 in the first half of fiscal 2022/23. According to the fund, the leverage ratio decreased from 24.51% (31.3.2022) to 20.69% after the capital increase in July this year. The average interest rate is 1.20%.
As of September 30, the fund's real estate portfolio consisted of 54 residential properties, nine mixed-use properties and five commercial properties. The total value was CHF 1.148 billion (March 31, 2022: 1.13 billion).
In June 2023, the referendum on the Development of the spinning mill site in Baar (ZG) an. The property belongs to PSREF in co-ownership with Patrimonium Anlagestiftung. In the event of a positive outcome of the vote, the building permit will be granted quickly, writes the PSREF in a statement.
Furthermore, the fund plans to convert its commercial property at Chemin du Chêne 3-5 in Renens (VD) into a mixed-use property. On more than 35 % of space, 51 lofts are to be created. The investment volume amounts to CHF 49 million.
In October, PSREF acquired co-ownership of a commercial property in Kloten (ZH) together with Patrimonium Investment Foundation. The fund holds 51% of the units, which are worth CHF 22 million and generate annual rental income of CHF 1.3 million. Due to a neighborhood plan, there is a possibility to demolish the current industrial halls within a time horizon of five years and replace them with residential properties, the fund says. (ah)
