Realstone: Swiss residential investment group now worth over 300 million
The year 2023 ended with a significantly lower profit. Acquisitions for CHF 44 million were offset by the sale of a small property in Aargau.
The inclusion of five additional properties in the Residential Real Estate Switzerland (RIRS) investment group characterized the past financial year of the Realstone Investment Foundation. Total assets now exceed the threshold of CHF 300 million with a total rental income of just under CHF 12 million.
The five properties were acquired for a total amount of CHF 43.65 million. Four acquisitions related to residential properties around the Lake Geneva region, namely in Lancy (VD), Montreux (VD), Yverdon-les-Bains (VD) and Etagnières (VD). The first three acquisitions were IB already reported. Not yet reported are two acquisitions that were completed in the course of 2022 with transfer during the reporting year. The first property is a residential building at Bruderholzstrasse 92 in Basel (BS) with five 1-room and five 2.5-room apartments and a rental income of CHF 100,200 for a purchase price of CHF 3.77 million. The second property is located at Rue des Philosophes 20A in Yverdon-les-Bains (VD) and has 26 apartments with an average living space of 62 square meters and 19 parking spaces. The fund sold the small property at Rigistrasse 1 in Rupperswil (AG) worth CHF 2.12 million with an after-tax profit of just over CHF 30,000.
The annualized rental income rose by CHF 1.77 million to CHF 11.92 million over the course of the year. The investment group's total assets increased by just under CHF 17 % to CHF 309 million, which is primarily attributable to the acquisitions. The debt ratio increased from 22.3 to 28.3 %.
Result shrinks significantly
The investment group's overall result for the financial year amounted to CHF 1.76 million, which represents a decrease compared to the overall result of CHF 7.0 million in 2022. In contrast, realized income, excluding unrealized capital gains and losses, increased slightly from CHF 5.42 million to CHF 5.64 million.
The Investment Foundation announces the accession of three new institutions for 2023. These joined as part of an entitlement issue of CHF 19.95 million carried out on March 28. This is evidence of the "renewed interest of institutional investors in this asset class", writes Realstone. (aw)
