Patrimonium Swiss Real Estate Fund (PSREF), listed on the SIX Swiss Exchange, continued to grow in the 2022/23 financial year. Rental income increased from CHF 47.55 million to CHF 48.82 million and the net asset value (NAV) per unit rose from CHF 146.76 (after distribution) to CHF 151.33. A dividend of CHF 4.00 per unit will be paid to investors.
The fund ended its 2022/23 financial year on 31 March 2023 with an increase in income of CHF 1.26 million, up 2.7% on the previous year. This increase is due partly to the additional income generated by the property purchased in October 2022 in Kloten/ZH, and partly to the re-letting of almost all the flats in the buildings whose complete renovation was completed during the year under review.
The industrial building in Kloten/ZH, acquired in co-ownership with the Patrimonium investment foundation, offers attractive conversion potential. The development project for the former spinning mill in Baar/ZG and the conversion project in Renens/VD are also taking shape.
Our sustainability efforts are continuing. In this context, the strategy has been clearly formulated and anchored in the prospectus, which will come into effect on 05.06.2023.
The market value of the properties increased from CHF 1,133,699,900 to CHF 1,175,744,600.
At 31 March 2023, PSREF’s property portfolio comprised 54 residential properties, 9 mixed-use properties, 6 commercial properties and 1 property under construction at Chemin du Chêne 3-5 in Renens/VD, for which planning permission was obtained in April 2023.
Following the capital increase in July 2022 and the use of part of the proceeds to repay debt, the debt ratio fell to 21.54% at 31 March 2023 (31.03.2022: 23.94%). As a result of various SNB rate increases, the average interest rate rose to 1.92% (previous year: 0.86%).
The distribution without withholding tax is CHF 4.00 per share and will be made on 16.06.2023 (Ex-Dat.: 14.06.2023).