WACC over the last 12 months

Real Estate Apr 2024 May 2024 Jun 2024 Jul 2024 Aug 2024 Sep 2024 Oct 2024 Nov 2024 Dec 2024 Jan 2025 Feb 2025 Mar 2025 WACC bandwidth WACC average 6,0% 6,3% 6,1% 6,0% 5,9% 6,0% 5,9% 5,7% 5,8% 5,8% 6,1% 5,8%

WACC summary

Real Estate, March 2025 Beta 1,0 Market risk premium incl. Small Cap Premium 6,5% – 8,0% Cost of equity 6,9% – 8,4% Cost of debt 1,8% Risk free rate 0,70% Credit Spread 1,3% Tax Shield 0,3% Risk free rate 0,70% Cost of equity Cost of debt 5,3% – 6,2% WACC 67,9% Equity ratio 32,1% Debt ratio
Dr. Marc Schmidli, CFA

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Dr. Marc Schmidli, CFA

PwC | Partner | Deals and Valuation Leader
Office: +41 58 792 1564 | Mobile: +41 79 211 7786
PricewaterhouseCoopers AG
Birchstrasse 160 | Postfach | CH-8050 Zürich
http://www.pwc.ch

Thomas Schneller, CFA

Questions?

Thomas Schneller, CFA

PwC | Director | Deals | Valuation & Modelling
Office: +41 58 792 1519 | Mobile: +41 79 608 4445 | Main: +41 58 792 4400
PricewaterhouseCoopers AG
Birchstrasse 160 | 8050 Zürich | Switzerland
http://www.pwc.ch