EQS-Adhoc Swiss Life Asset Management AG: Swiss Life REF (CH) Swiss Properties: closing of 2020/2021 financial year and pending capital increase
EQS Group-Ad-hoc: Swiss Life Asset Management AG / Key word(s): Capital Increase
Zurich, 24 November 2021
Swiss Life REF (CH) Swiss Properties: closing of 2020/2021 financial year and pending capital increase
Strong portfolio growth combined with a simultaneous increase in net income of 27.4% to CHF 30.9 million results in a stable distribution of CHF 2.60 per unit. Announced capital increase to take place in November/December 2021. Issue price set at CHF 113.50.
The Swiss Life REF (CH) Swiss Properties real estate fund holds a real estate portfolio diversified throughout Switzerland. The total portfolio of 135 existing properties and one property under construction has a market value of around CHF 2.0 billion (as at 30 September 2021). The portfolio was expanded during the financial year with the acquisition of a high-quality property portfolio with 46 properties with a strong focus on residential. As well as the purchase of a residential and commercial property in Zurich-Höngg. At the same time, a residential building in Bulle and a small building with mixed-use in Basel were sold during the past business year. The market value of the properties held in the portfolio over the entire reporting period increased by CHF 41.3 million or 2.2% (net, after deduction of investments). The main value driver was the high demand for apartment buildings and properties in central locations.
Despite a challenging market environment, the rent default rate was maintained at a low 3.61% due to the focus on good locations, a favourable diversity of uses and the focus on active lettings management. Net income as at 30 September 2021 increased by 27.4% from CHF 24.3 million to CHF 30.9 million. Investors will receive a total of CHF 35.1 million, or CHF 2.60 per unit, by way of distribution. Part of this is the result of the successful sales of the properties in Bulle and Basel. The distribution per unit thus remains stable.