Ecoreal investment groups expand assets in the first quarter
The investment groups Suissecore Plus and Suisseselect of the Ecoreal Investment Foundation increased their assets in the first quarter of 2023. However, investment returns declined.
Ecoreal reports that the total assets of the Suissecore Plus investment group increased by CHF 4 million to CHF 1.304 billion in the first quarter of 2023. The investment return amounted to 1.29%. The portfolio, which was acquired as a contribution in kind in the previous year, was adjusted by two properties for strategic reasons, resulting in a 4 basis points lower investment return, Ecoreal said.
Projects running according to plan
The investment group's two new construction projects, Freiley in Zurich and Al-pianton in Bellinzona, are reportedly progressing according to plan. Marketing of the 86 apartments and commercial space in the Ticino cantonal capital has already begun. The listed gatehouse at Hardstrasse 43 in Basel is also currently being renovated. It is part of the Living Frames development and is to become a neighborhood meeting place for residents from June.
Suisseselect yields 1.9 percent
According to Ecoreal, the total assets of the Suisseselect investment group increased by CHF 2 million to CHF 572 million in the first quarter. The investment return declined slightly to 1.91%. Ecoreal cites higher income losses due to vacancies and selective rent discounts as an incentive to conclude long-term contracts, as well as expenses for maintenance and repair work, as reasons for the decline. (ah)
