Realstone AST buys two residential properties and plans issue
The two acquisitions in Ecublens and Schaffhausen add up to CHF 22 million. The capital increase will take place in October.
The total assets of the Realstone Residential Real Estate Switzerland (RIRS) investment group of Realstone AST now exceed CHF 330 million thanks to the purchase of two properties in Ecublens (VD) and Schaffhausen. The two properties have a combined rental income of around CHF 13 million and, according to the press release, "a significant rental reserve". Together, the two properties generate additional income of CHF 0.99 million. They have a weighted gross yield of 4.46% and an average rental reserve of 23%, which is to be realized through renovations in the event of future tenant changes.
The first property is located at Avenue du Tir-Fédéral 28 in Ecublens (VD). This property comprises 32 apartments and 70 parking spaces. It is located 400 meters from Renens SBB train station. The purchase price is CHF 9.72 million with a gross yield of 4.30%. Realstone puts the rental reserve at 38%. The current return on equity (ROE) is 3.26%.
The second property is located at Bergstrasse 2/4/4a and Weinsteig 61/63 in Schaffhausen. It was acquired on September 13 and comprises 40 apartments. The purchase price for the property near the SBB railroad station is CHF 12.50 million. The gross yield is stated at 4.58%. According to Realstone, the return on equity (ROE) is 3.60%.
Capital increase of 62 million francs
Realstone AST is also announcing a capital increase on October 15 for the acquisition of already secured properties. It is to have a total volume of CHF 62 million. The subscription period runs until October 10. (aw)
