Realstone investment group RIRS has expanded portfolio by over 50 percent
The Realstone Residential Real Estate Switzerland (RIRS) investment group acquired 13 properties for CHF 83.05 million in its third year of operations. The tenant portfolio was expanded by 51.36% to an annualized CHF 10.16 million.
RIRS ended 2022 with total assets growing by 51.75% to CHF 264.52 million. The plus is mainly due to the acquisitions. Excluding appreciation, realized income for the year improved from CHF 3.85 million to CHF 5.42 million. Including the valuation result, however, total income fell from 8.60 to 7.00 million CHF. Due to the lower revaluations, the return on equity of 3.59% also fell short of the previous year. The leverage ratio remained largely stable and amounted to 22.29% as of December 31 (previous year: 21.65%).
As of year-end 2022, the investment group had 22 properties in its portfolio. The share of income from residential use amounts to 82.82%. 81.82% of the rental income is generated in Western Switzerland. (aw)
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