Cronos: Immo Fund grows by 15% in the financial year
Following acquisitions worth over CHF 100 million, the fund closed its eighth financial year with total assets of over CHF 1 billion.
The Cronos Immo Fund increased its total assets by 14.7% to around one billion Swiss francs in the past financial year. The fund reached this important milestone just in time for the eighth anniversary of its launch, as fund manager Hervé Mützenberg points out. Rental income grew by CHF 9% to CHF 39.4 million, or by CHF 4.2% on a comparable basis. A dividend of CHF 2.90 per unit is distributed, which corresponds to a distribution yield of 3.2%.
As at September 30, the real estate portfolio comprised 93 properties, with a vacancy rate of 1.9% in the reporting year. The fund acquired eight existing buildings and two building plots for a total price of CHF 106.7 million. Five of these transactions took the form of contributions in kind.
These are the purchased existing buildings:
- Genolier, Route de Trélex 2-4-6-8
- Berne, Lischenweg 30-30a-30b
- Chéserex, Les Grands-Champs 17-21/22a#
- Sugiez, Impasse des Alpes 3-6-8-11
- Oberglatt, Chlirietstrasse 6-8-10
- Bex, Avenue de la Gare 46
- Fribourg, Route St-Nicolas-de-Flüe 4
- Biel, Redernweg 16-20
The properties acquired are as follows:
- Leytron, Route Romaine 40-42-44
- Monthey, Route du Pont-Rouge 1 A-B-C / 3 A-B
- Denges, Route de la Plaine 4
The fund has sold the properties
- Jongny, Sentier du Point du Jour 1-3
- Vevey, Avenue de l'Ile-Heureuse 11.
