Baltic Horizon Fund Reports December Net Asset Value Results
Baltic Horizon Fund Reports December Results
The Baltic Horizon Fund (the Fund) has disclosed its net asset value (NAV) per unit, which stood at EUR 0.6833 at the conclusion of December. This marks a decline from EUR 0.7050 noted at the end of November. The Fund's total NAV also decreased slightly, landing at EUR 98.1 million, down from EUR 101.2 million from the previous month. Additionally, the EPRA NRV as of the last day of December was recorded at EUR 0.7267 per unit.
Valuations and Portfolio Performance
Independent real estate appraisers conducted fresh valuations of the Fund's portfolio at the end of December. As of this date, the estimated market value of the Baltic Horizon Fund's portfolio showed a slight uptick, reaching EUR 240.9 million, compared to EUR 239.7 million at the end of June. The adjustments in portfolio value were primarily influenced by changes in discount rates, reflecting decreased EURIBOR rates. For detailed insights, the summary of property evaluations is anticipated to be shared on the Fund's website, with a more comprehensive report available in the upcoming quarterly statements.
Rental Income Overview
During December, the Fund's consolidated net rental income remained steady at EUR 0.9 million, consistent with the results of November. Over the entire year, the Fund successfully generated an annual consolidated net rental income totaling EUR 11.6 million, showcasing its consistent performance in generating revenue from its property holdings.
Cash Position and Fund Assets
At the end of December, the Fund's consolidated cash and cash equivalents saw a significant increase, rising to EUR 10.1 million, up from EUR 5.2 million the previous month. This boost in cash position was attributed to additional funding acquired through a loan for Coca Cola Plaza.
As for the total assets, as of the closing of December, the Baltic Horizon Fund reported consolidated assets amounting to EUR 256.0 million, a slight rise from EUR 254.0 million noted in November. This growth underscores the Fund's resilience and capacity to maintain a robust asset base despite inherent market fluctuations.
Contact Information for Further Inquiries
If you have any questions or need further details regarding the Baltic Horizon Fund, please reach out to:
Tarmo Karotam
Manager, Baltic Horizon Fund
Email: tarmo.karotam@nh-cap.com
Website: www.baltichorizon.com
The Baltic Horizon Fund is a registered contractual public closed-end real estate fund, expertly managed by Northern Horizon Capital AS, a licensed Alternative Investment Fund Manager.
Frequently Asked Questions
What is the current net asset value (NAV) of the Baltic Horizon Fund?
The net asset value (NAV) per unit is currently EUR 0.6833 at the end of December.
How much did the Fund's total net asset value decrease?
The total net asset value decreased from EUR 101.2 million to EUR 98.1 million during December.
What factors influenced the change in portfolio valuations?
The changes in discount rates due to decreased EURIBOR rates primarily influenced the adjustments in portfolio valuations.
How much rental income did the Fund generate over the past year?
The Baltic Horizon Fund generated a consolidated net rental income of EUR 11.6 million for the year.
What is the Fund's cash position at the end of December?
The consolidated cash and cash equivalents amounted to EUR 10.1 million at the end of December.
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