Realstone RSF: Fund increases net income
Rental income and net income increased in the first half of the financial year, while total income was significantly lower than in the same period of the previous year.
In the first half of the 2025/26 financial year, the Realstone RSF fund acquired three properties for CHF 147 million. The first property is the predominantly residential property Route de l'Écluse 30, 34, 36,38 in Neuchâtel. It was added to the portfolio on April 9 for CHF 92.5 million. The second property, which is also used for residential purposes, is located at Kasernenstrasse 29, 29a in Berne and was acquired on July 31 for CHF 13 million. The third acquisition, which was made on August 15 for CHF 8.75 million, concerns a residential property with 28 apartments at 52,54 Rue de l'Orée in Neuchâtel. Two commercial properties were sold at the same time. The first property in Affoltern am Albis (ZH) was sold on August 7 for CHF 27.50 million, resulting in a net profit before tax of CHF 0.43 million. The second sale of CHF 27 million relates to a commercial property with a single tenant in Saxon (VS), which was sold on September 23 and resulted in a net pre-tax gain of CHF 0.63 million.
The fund's total assets rose by 7.5% to CHF 2.68 billion. This increase is due in particular to the revaluation of the properties. Due to the repayment of borrowed capital in the course of the last capital increase, the debt ratio fell from 31 to 27%.
Lower overall success
Meanwhile, rental income increased by 14% to CHF 51.5 million, which is attributable to completions, lower vacancy rates and the additional income generated from acquisitions. Meanwhile, the net result improved by 22.5% to CHF 25.7 million. The sale of condominiums in Winterthur and the sale of the two commercial properties led to a realized profit of around CHF 4 million. As a result, the realized profit improved by 41.5% to CHF 29.9 million. On the other hand, the overall result also fell significantly from CHF 31.8 million to CHF 21.3 million, which Realstone attributes in particular to the acquisition of a building plot with a valid building permit in Rorschach (SG). Unrealized capital losses totaled CHF 8.6 million, following a corresponding profit of CHF 10.7 million in the same period of the previous year.
Purchases
- Berne, Kasernenstrasse 29, 29a (residential)
- Neuchâtel, Rue de l'Orée 52, 54 (residential)
- Neuchâtel, Rue de l'Ecluse 30, 34, 36, 38 (Mixed)
- Rorschach, Feldmühlestrasse 37 (Mixed)
Sales
- Winterthur, Solarstrasse 29-31 (several apartments in condominium ownership)
- Affoltern am Albis, Zürichstrasse 49-55 + Marktplatz 2-5 (Commercial)
- Saxon, Route du Léman 29 (Commercial)
