Patrimonium: Swiss Real Estate Fund increases profit
The fund increased its rental income in the past financial year, primarily through acquisitions, and now intends to accelerate the pace of acquisitions.
The listed real estate fund Patrimonium Swiss Real Estate Fund closed its 2024/25 financial year with an increase in realized income to CHF 23.6 million (previous year: CHF 21.8 million). The fund's rental income increased by 4.5% to CHF 54.2 million. This growth was due to acquisitions (2.7%), rent increases as a result of indexation and new lettings (1.0%) and the reduction in the vacancy rate (0.8%).
Meanwhile, the market value of the portfolio rose by 5.2% to CHF 1.3 billion. This was due to organic growth (2.8%), a lower discount rate (1.5%) and external growth (1.0%). The return on investments improved from 1.25TP3T to 5.32% and total income rose from CHF 10.5 million to CHF 44.2 million due to a significantly higher valuation result.
As a result of the acquisitions and construction measures, the gearing ratio rose to 26.4% at the end of March. In contrast, the weighted average cost of debt fell from 1.92% to 1.34% with a longer term.
Further acquisitions for 41 million francs
The fund cites accelerated acquisition activity, a further reduction in the vacancy rate, an improvement in the EBIT margin and the optimization of debt financing costs and maturities as its objectives. According to the information provided, acquisitions with a total value of CHF 41 million have already been made since the end of the financial year. As a result, the current gearing ratio has risen to 28.7%. A capital increase was announced for July.
In the past financial year, the fund acquired the properties Rue de Bullet 6-8-10 in Yverdon for CHF 9.5 million and Chemin de Champ-Pamont 2 in Cheseaux for CHF 10.0 million. Rue de la Blancherie 32 in Chavannes/Renens was sold for CHF 6.2 million and Route de Corbaroche 24 in Marly for CHF 2.9 million. (aw)
