Seraina: Additions to both investment groups
The investment foundation reported the purchase of land for 37 rental apartments in Nussbaumen and the acquisition of two apartment buildings in Gals for the SIF Living ESG portfolio group during the second quarter.
In the second quarter, the Seraina Investment Foundation acquired a plot of land in Nussbaumen (AG) with a legally binding building permit for its Swiss Development Residential (SDR) development portfolio. Thirty-seven rental apartments are to be built there; according to the quarterly report, construction has already begun. By entering into another turnkey construction contract, the investment foundation also aims to reduce its dependence on individual implementation partners.
Seraina also reports progress on ongoing projects: In Zollikofen (BE), construction work on 38 condominium units has begun as scheduled; marketing is underway and, according to the investment foundation, is meeting with «encouraging demand.» For the «Rosenweg» project in Zollikon (ZH), a building permit application for 12 condominium units was submitted in April.
Half of the SDR portfolio is under construction
As of the end of June, SDR reported gross assets of 1.92 billion CHF and net assets of 1.53 billion CHF; Seraina estimates the total value of the 50 completed projects at 3.80 billion CHF. By stage of development, 50.10 % of the portfolio consists of projects with interim use, and 48.65 % consists of projects under construction; only 1.25 % are operational. The loan-to-value ratio stands at 17.65 %. The regional focus remains on Zurich, accounting for 41.54 % of the market values, ahead of the Lake Geneva region (27.75 %) and northwestern Switzerland (18.08 %). The investment return was 0.30 % for the quarter and 1.06 % year-to-date; on an annual basis, both figures—5.05 % and 5.10 %—are virtually on par.
Two apartment buildings in Gals
The SIF Living ESG investment group, which focuses on existing real estate, acquired the «Zihlbrücke» residential property in Gals (BE) during the quarter; the property consists of two apartment buildings. Its direct holdings now comprise 109 apartments, up from 90 at the end of the last fiscal year, along with 223 parking spaces and 8,216 square meters of commercial space. The overall vacancy rate fell from 1.40 % at the end of the last fiscal year to 1.06 %, while the residential vacancy rate rose from 0.00 % to 1.27 %. With returns of 0.81 % for the quarter and 7.75 % for the year, the investment group outperformed the benchmark (0.71 % and 5.10 %, respectively). Total assets amount to 171.32 million CHF.
In early May, Seraina completed the SDR capital increase, which totaled approximately 103 million CHF (IB reported). In fiscal year 2025, the investment foundation had more than doubled the SDR's total return to 84.4 million CHF.
