Real estate funds: net income at previous year's level
Immofonds increased rental income by 2.4% to 41.2 million CHF in the first half of 2022/2023. Meanwhile, the rent default rate decreased from 2.5 to 1.9%.
Net income and comprehensive income of the Immofonds each reached the level of the previous year (CHF 24.3 million). As of December 31, the portfolio included 134 properties with a market value of CHF 2.1 billion, an increase of 6.3% over the year. The distribution yield was 2.6%, while the performance for investors decreased from 7.0 to 2.9%.
In the fall, the fund acquired a smaller residential property in Opfikon-Glattbrugg in the immediate vicinity of the existing property at Rohrstrasse 2/Schueppwiesenstrasse 4. At the end of December 2022, a commercial property with around 8,700 square meters of office and commercial space was acquired in Zurich-Altstetten. (IB reported). (aw)
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