UBS Living Plus with performance of 9.6%
The former CS fund, which has a portfolio value of CHF 3.2 billion, increased its rental income by just under CHF 4 % in 2024.
In the 2024 financial year, the UBS Living Plus fund (formerly CS Real Estate Living Plus) increased its rental income by CHF 5.1 million to CHF 138.9 million, which corresponds to an increase of 3.8%. Borrowing costs rose by CHF 1.5 million and the rental loss rate increased slightly by CHF 0.1% to CHF 2.3%. Net income rose by CHF 2 million to CHF 76.6 million and total income by an impressive CHF 67.3 million to CHF 95.7 million. The main reason for the latter was unrealized capital gains of CHF 20.7 million, which improved the valuation result by CHF 70.2 million compared to the previous year.
Overall, the portfolio value grew by CHF 94.5 million to CHF 3.2 billion, with refurbishment and new construction projects also contributing to this. With a performance of 9.6%, the fund was well below the benchmark of 17.6% according to SXI Real Estate Funds TR. The return on investment amounted to 4.2%.
Only two transactions
In the past financial year, the fund acquired building land at Mühlihalden 2 in Bassersdorf. The only sale was a property in Bad Zurzach (Waaggässli 3), which was last recorded in the books with a market value of CHF 1.9 million.
In November, UBS announced plans to merge the former CS fund with the Direct Residential, Direct Hospitality and Residentia funds. The merger would create the largest Swiss residential real estate fund with direct real estate holdings in terms of market value. The portfolio would have a market value of just under CHF 5.2 billion. (aw)
