UBS: 1a Immo PK keeps distribution constant
The fund sold numerous properties in the financial year in order to service unit certificate redemptions.
The «UBS 1a Immo PK» fund generated an investment return of 6.7% in the 2024/25 financial year. This comprises a cash flow return of 4.1%, realized capital gains of 0.4% and a return on changes in value of 2.2%. The distribution remains constant at CHF 45.00 per unit. On this basis, the distribution yield amounts to 3.4%.
However, the fair values of the fund fell by 3.1% to CHF 4.5 billion. This development is due in particular to the sale of 15 properties in the amount of CHF 283.7 million. The sales were used to raise liquidity to repay the share certificates that were terminated on September 30, 2024. «The high demand on the transaction market led to a realized capital gain from the sales of CHF 13.8 million after transaction costs and taxes,» writes the fund management company.
The like-for-like market values in the existing portfolio increased significantly. Completion of the projects in Rapperswil-Jona and Winterthur, progress in the ongoing construction projects and significant improvements in the letting situation led to an overall increase in market value of 3.1%, according to the information provided.
Overall success increases massively
Comparable rental income increased by 0.8% due to additional income from new buildings and general rent increases, even though rental income fell in absolute terms from 206.2 million to 187.4 million due to sales. Net income fell from around CHF 128 million to CHF 118.7 million, while total income including realized capital gains of CHF 13.8 million and unrealized capital gains of CHF 70.5 million rose considerably - from CHF 120.2 million to around CHF 200 million.
Sales
- Aadorf, Friedaustrasse 11, 13, 15 (residential)
- Adliswil, Im Sihlhof 1, 2, 4, 20-29, «The Jay» (residential)
- Basel, Delsbergerallee 3 (residential)
- Berne, Schönburgstrasse 41 (Commercial
- Biel, Bahnhofstrasse 19 (Commercial)
- Hochdorf, Industriestrasse 2 (Commercial)
- Horw, Brunnmattstrasse 12 (residential)
- Lugano, Via Francesco Borromini 7A (residential)
- Pratteln, Grüssenweg 6 (Commercial)
- Riehen, Bäumlihofstrasse 388 (residential)
- Solothurn, Hauptgasse 21 (Mixed)
- Stansstad, Unter Sagi 6 (Commercial)
- Villeneuve, Chemin du Cabinet 5 (residential)
- Zurich, Dörflistrasse 58, 60 (residential)
- Zurich, Grubenstrasse 10 (Commercial) (aw)
