Fundamenta Investment Foundation expands portfolio
In its fourth financial year, the Fundamenta Investment Foundation increased the balance sheet value of its portfolio from CHF 431.5 million to CHF 730.6 million.
In its fourth financial year, the Fundamenta Group Investment Foundation acquired eight residential properties, one commercial property and one development project. The development project on Klosterfeldstrasse in Muri (AG) was completed in spring 2023. In addition, ownership was transferred to the "Swiss Real Estate" investment group in June 2023 following the completion of the new building on Kehlhofstrasse in Frauenfeld. The Investment Foundation also reports the completion of repositioning on Nussbaumstrasse and Weststrasse in Zurich and the addition of the properties to the portfolio.
As at September 30, the portfolio of the "Swiss Real Estate" investment group consisted of 39 existing properties - three of which are being repositioned - and one development project. The balance sheet value of the total of 40 properties amounted to CHF 730.6 million as at the balance sheet date. This represents significant growth compared to the previous year, when the value amounted to CHF 431.5 million. The market value of the properties was calculated by Wüest Partner on the basis of an average real discount rate of 2.59% as at the valuation date. The devaluation was low at minus CHF 0.1 million (previous year: CHF +4.9 million). "The successful project completions of the various new construction and portfolio developments as well as the revaluation of a development completed in the previous year led to an overall revaluation, which largely compensated for the market-related valuation adjustments of the remaining properties," Fundamenta writes in a press release.
Net rental income increased by 56% to CHF 17.4 million (previous year: 11.1 million). The rent loss ratio for the period was 2.51% (previous year: 1.66%). As at the reporting date, this figure had been reduced to less than 2%. At the end of the financial year, the investment group's debt financing ratio stood at 24.23%. The return on investment for the fourth financial year amounted to 2.86% (4.75%). This "reflects the robustness of the portfolio", commented Fundamenta. (aw)
