Net asset value of the EfTEN United Property Fund as of 31.08.2024

The net asset value (NAV) of EfTEN United Property Fund unit was 10.66 euros at the end of August, increasing by 0.1% over the month. The somewhat smaller-than-usual increase in NAV was related to the investment into the listed fund EfTEN Real Estate Fund AS, which shares closed on the Tallinn stock market in August 0.8% below a month ago level, and the one-time costs of the EfTEN Real Estate Fund 5 related to the UNA retail park transaction in Lithuania.If the fund's investment in the EfTEN...

Tallinn, 25/09/2024 (informazione.it - comunicati stampa - economia)

The net asset value (NAV) of EfTEN United Property Fund unit was 10.66 euros at the end of August, increasing by 0.1% over the month. The somewhat smaller-than-usual increase in NAV was related to the investment into the listed fund EfTEN Real Estate Fund AS, which shares closed on the Tallinn stock market in August 0.8% below a month ago level, and the one-time costs of the EfTEN Real Estate Fund 5 related to the UNA retail park transaction in Lithuania.

If the fund's investment in the EfTEN Real Estate Fund AS shares is reflected on the basis of the NAV, the NAV of the EfTEN United Property Fund would be 10.79 euros, increasing by 0.3% over the month. The fund made a net profit of 23 thousand euros in August. In eight months of this year, the fund has earned a net profit of 470 thousand euros (-370 thousand euros at the same time last year).

In August, the uninvested capital of the fund decreased by 4.8 million euros due to the largest investment in the fund's history – the acquisition of the UNA retail park in Vilnius through the EfTEN Real Estate Fund 5. At the end of the month, the uninvested capital was 2.3 million euros, or less than 9% of the fund's equity.

Rental agreements for 39 apartments were signed in August in the Vilnius residential rental house, which started accepting tenants in the middle of summer. With this, exactly 50% of the 146 apartments in the fund's largest residential rental building have been rented out. At the same time 99% and 98% of the apartments in the rental buildings in Tallinn with 114 apartments and in Kaunas with 96 apartments have been rented out, respectively.

A more detailed overview of EfTEN United Property Fund's portfolio can be found on the fund's website: https://eftenunitedpropertyfund.ee/en/fund-results-2/

Kristjan Tamla
Managing Director
Phone 655 9515
E-mail: kristjan.tamla@eften.ee

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