Immo Helvetic with stable overall performance
Berninvest's Immo Helvetic fund slightly expanded its portfolio in H1 and announced the construction of 270 apartments in the canton of Fribourg.
Immo Helvetic's total fund assets increased from CHF 1.55 billion to CHF 1.62 billion in the first half of the year. The rental loss rate was reduced from 5.42 to 4.48% and rental income increased from CHF 31.3 million to CHF 32.2 million. Total income remained virtually unchanged at CHF 20.2 million. The Berninvest fund management company reported an EBIT margin of 73% (previous year: 76%). While performance improved from -9.3% to 5.55% compared to H1 2022, the return on investment decreased slightly to 1.90% (previous year: 2.24%). "The cash flow also allows the dividend policy to be adjusted to the rising yield curve in the medium term and the dividend to be gradually increased," according to a statement.
270 apartments planned in Bulle
The fund's project pipeline reportedly comprises 650 apartments. Of these, 270 units are to be completed at the same time as a watch factory in the municipality of Bulle (FR). More than 2,000 new jobs will be created there for the new Rolex factory. Immo Helvetic is also building a new research center for the Dutch-Swiss group DSM-Firmenich in Kaiseraugst by the end of the year. The space is due to be handed over at the end of November. The lease runs for twenty years with an option to extend. (aw)
