Baltic Horizon Fund Reports Net Asset Value December Update
Overview of Baltic Horizon Fund's December NAV
The Baltic Horizon Fund has published its net asset value (NAV) for December 2024, which stood at EUR 0.6833 per unit. This represented a slight decline from EUR 0.7050 recorded at the end of November 2024. The total net asset value for the month approached EUR 98.1 million, down from EUR 101.2 million the previous month. In contrast, the EPRA NRV for the same period was noted at EUR 0.7267 per unit.
Impact of Portfolio Valuations
As part of its ongoing financial assessments, the Baltic Horizon Fund underwent new portfolio valuations conducted by independent real estate appraisers. By the end of December 2024, it was revealed that the fair value of the Fund's portfolio had increased to EUR 240.9 million, up slightly from EUR 239.7 million as of June 2024. This positive adjustment in portfolio value has largely been attributed to shifts in discount rates, primarily influenced by the recent decreases in EURIBOR rates. A detailed summary of property valuations will be accessible on the Fund's official webpage, with further insights expected in the upcoming quarterly report.
Rental Income Stability
Throughout December 2024, the Baltic Horizon Fund reported consolidated net rental income remaining stable at EUR 0.9 million, consistent with November's performance. Over the entire year, the total rental income achieved by the Fund reached EUR 11.6 million, indicating a solid rental performance amidst market fluctuations.
Liquidity Position
At the close of December 2024, the Fund's consolidated cash and cash equivalents demonstrated impressive growth, totaling EUR 10.1 million compared to EUR 5.2 million just one month prior. This increase was bolstered by the acquisition of an additional loan from Coca Cola Plaza, enhancing the Fund’s liquidity position for future investments.
Comprehensive Asset Overview
By year-end, the Baltic Horizon Fund recorded total consolidated assets of EUR 256.0 million, an increase from EUR 254.0 million observed at the end of November 2024. This overall growth in assets lays a promising foundation for the Fund’s subsequent performance and investment strategies.
About Baltic Horizon Fund
The Baltic Horizon Fund, managed by Northern Horizon Capital AS, operates as a registered contractual public closed-end real estate fund. Its strategy focuses on generating shareholder value through investments in high-quality properties, reflecting a commitment to transparency and financial prudence.
For further inquiries, please contact:
Tarmo Karotam
Baltic Horizon Fund manager
E-mail tarmo.karotam@nh-cap.com
www.baltichorizon.com
Frequently Asked Questions
What is the NAV of the Baltic Horizon Fund for December 2024?
The net asset value (NAV) of the Baltic Horizon Fund for December 2024 is EUR 0.6833 per unit.
How did the portfolio valuations perform in December 2024?
The fair value of the Baltic Horizon Fund's portfolio increased to EUR 240.9 million as of December 31, 2024.
What was the consolidated net rental income for December 2024?
In December 2024, the consolidated net rental income remained stable at EUR 0.9 million.
What factors contributed to the increase in cash reserves?
The increase in cash reserves to EUR 10.1 million was largely due to an additional loan received for Coca Cola Plaza.
Who manages the Baltic Horizon Fund?
The Baltic Horizon Fund is managed by Northern Horizon Capital AS, which holds an Alternative Investment Fund Manager license.
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