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Press Release

Patrimonium Investment Foundation with good 2021 results

04.05.22

The Patrimonium Investment Foundation performs well and increases its investment assets by CHF 126 million to CHF 1.2 billion in the 2021 financial year. Both investment groups, “Residential Real Estate Switzerland” and “Healthcare Real Estate Switzerland” generate solid returns and continue to develop their portfolios successfully. “Residential Real Estate Switzerland” with best performance since launch. To the annual report (section “Documents”).

The investment assets of the “Residential Real Estate Switzerland” investment group increased by CHF 85 million to CHF 787 million during the business year. The growth was mainly organic, resulting from investments in ongoing construction projects and the positive development of he properties’ values. The two acquisitions realised in the financial year in Bern (BE) and Lugano TI (contribution in kind of the pension fund of the city of Lugano) show good development potential. Due to the selective acquisition activity and the good development of the portfolio, the debt financing ratio – for the first time without a capital call in a business year – remained practically unchanged compared to the previous year. In the distribution of income, the option of free reinvestment was predominantly used. At 8.18%, the highest investment return since the launch of the investment group in 2010 was achieved.
The investment group has excellent organic growth potential with the development projects in Baar (ZG), Birsfelden (BL), Crissier (VD) and Lugano (TI). In the first months of 2022, further purchases with development potential were made in Muttenz (BL) and Fribourg (FR) – in co-ownership with the Swiss Healthcare Real Estate investment group – thus further strengthening the portfolio.

As of 31 December 2021, the portfolio consists of 59 existing properties, two ongoing new construction projects and one undeveloped property. The share of residential properties is 89 percent, 5 percent of the properties have mixed use and 6 percent have commercial use. By region, 51 percent are located in Western Switzerland and the Lake Geneva region, 35 percent in German-speaking Switzerland and 14 percent in Southern Switzerland.

The Swiss Healthcare Real Estate investment group was able to expand the portfolio to fourteen properties in the financial year with three acquisitions: a plot of building land adjacent to the existing portfolio property in Brunnen-Ingenbohl (SZ), an existing property in Fribourg (FR) and a new construction project in Kriens (LU). The fixed assets increased by CHF 41 million to CHF 355 million due to the acquisitions, the investments in the current new construction projects and the positive development of the appraised values. A capital call of CHF 19 million was made in the financial year to finance the growth. With an investment return of 5.23%, the investment group achieved a solid result in the financial year. The portfolio was further diversified with the purchase of a property in Fribourg (FR) in February 2022 in co-ownership with the Swiss Residential Real Estate investment group.

As of 31 December 2021, the portfolio consists of nine completed buildings, three new construction projects and two building land plots. Based on the target rental income, the share with medical use is 79%, the share with retirement living 12% and the share with other use 9%. 49% of the portfolio is accounted for by clinics, 20% by medical centres, 10% by nursing homes, 12% by retirement homes, 5% by flats, 2% by other medical uses and 2% by other uses.
The 2021 Annual Report is available here (under “documents”).

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