Realstone AST makes further purchases
The Realstone Residential Real Estate Switzerland investment group reports further growth: in the fourth quarter of 2024, five properties were added for just under 60 million. The next subscription period begins in March.
The Realstone Investment Foundation is purchasing five properties for its Realstone Residential Real Estate Switzerland (RIRS) investment group using the capital raised in the 2024 financial year. The properties acquired for a total of CHF 57.40 million in Geneva (GE), Lausanne (VD), Versoix (GE), Ecublens (VD) and Schaffhausen (SH) comprise 141 residential units. With an average gross yield on the purchase price of 4.26%, additional rental income of CHF 2.43 million was generated for the investment group. Realstone puts the average rental reserve at 36%. This will be realized gradually thanks to renovations when tenants change. "With an average return on equity (ROE) of 3.02%, these properties will make a direct positive contribution to the financial results of the RIRS investment group," it says.
The portfolio now consists of 30 properties with a value of CHF 360 million and a rent roll of CHF 14.55 million. Realstone has announced the next subscription period for March 2025. The target volume is CHF 60 million. (aw)
