Erres: No capital increase for the Swiss sub-fund
Edmond de Rothschild REIM is focusing on internal growth for Edmond de Rothschild Real Estate SICAV - Swiss, among other things by leveraging rental potential.
There will be no capital increase for Edmond de Rothschild Real Estate SICAV - Swiss (Erres) in the current financial year 2023/24.
Edmond de Rothschild REIM reports that the SICAV is in a good financial position to carry out its construction and renovation projects and to upgrade the rental values of the recently acquired buildings. Sales of non-strategic properties are also planned, and the SICAV also intends to take advantage of distressed acquisition opportunities to improve its distribution performance. A growth target of 3% has been set for the 2023/24 financial year.
In September 2022, the sub-fund carried out a capital increase of CHF 289.9 million and sold five properties in the past twelve months. As a result, the SICAV's leverage ratio is within the strategic limit of between 25% and 28%. Edmond de Rothschild REIM points out that the real estate fundamentals of the portfolio are "excellent", with low vacancy (below 2%), rising rents (+1.5%) and defaults that are "limited". The annual report for 2022/23, which ended on March 31, will be published on June 20 after the close of trading. (ah)
