ZIF Immobilien Direkt: Portfolio grows to 1.5 billion Swiss francs
Zurich Invest's real estate fund achieved a return on investment of 7.7% in the 2024/25 financial year and announces a capital increase for November.
The real estate fund ZIF Real Estate Direct Switzerland closed the 2024/2025 financial year with an investment return of 7.73 %. This was announced by Zurich Invest Ltd. The business figures are characterized by revaluations from construction projects and an increase in the portfolio size to over CHF 1.5 billion.
A milestone was reached in the development of the company's own portfolio in the financial year with the complete renovation and full letting of 24 apartments in Lucerne. In addition, the major projects "Baarerstrasse" in Zug and "Glattwiesenstrasse/Grosswiesenstrasse" in Zurich proceeded according to plan, according to Zürich Invest. A legally binding building permit was issued for the project in Ferdinand-Hodler-Strasse in Zurich-Höngg. The change in value compared to the previous valuation amounts to CHF 103.1 million (+7.38 % "like-for-like"), mainly due to the progress of the project.
The rent loss rate remains stable at 3.01 %. Excluding development projects, target rents rose by around 1.5 %. However, rental income fell from around CHF 53 million to CHF 50.9 million due to the ongoing development projects. "After re-letting, a significant increase in earnings power is expected from the next financial year," says Zurich Invest. Net income remained virtually unchanged at CHF 25.3 million in the past financial year (previous year: CHF 25.6 million), while total income increased significantly from CHF 28.3 million to CHF 76.7 million due to the higher valuation result. The distribution remains stable at CHF 2.75.
Two sales
Two smaller residential properties in western Switzerland were sold in the 2024/2025 financial year. The sale generated
"Avenue des Oiseaux 2, 4" in Lausanne and "Chemin des Murs Blancs 29, 31" in La Tour-de-Peilz resulted in a realized capital gain of CHF 1.7 million.
Capital increase in November
The fund management is considering an issue of around CHF 100 million for November. This is based on the progress of the project and the "positive market situation". The volume would correspond to a subscription ratio of approximately 10:1. In addition to financing projects and acquisitions, the capital increase would "increase the fund's flexibility", according to the press release. (aw)
