Baltic Horizon Fund Highlights for November 2024
The Baltic Horizon Fund has released its net asset value (NAV) per unit, indicating a value of EUR 0.7050 at the end of November 2024, down from EUR 0.7080 as recorded at the end of October 2024. The total NAV of the Fund at month’s end was EUR 101.2 million, reflecting a decrease from EUR 101.6 million in the previous month. Furthermore, the EPRA NRV as of November 30, 2024, registered at EUR 0.7484 per unit.
Rental Income and Lease Agreements
During November 2024, the consolidated net rental income generated by the Baltic Horizon Fund amounted to EUR 0.9 million, a slight drop from the EUR 1.0 million earned in October 2024. A significant development for the Fund occurred this month as it finalized a 5-year lease agreement leveraging approximately 3,700 sq. m in S27 with the International School of Riga. This lease is expected to contribute positively to the Fund’s NOI starting in the fourth quarter of 2025.
Asset Management and Financial Overview
As of the end of November 2024, the Fund boasted consolidated cash and cash equivalents totaling EUR 5.2 million, a decline from EUR 7.3 million as of October 31, 2024. Additionally, the total consolidated assets of the Fund were reported at EUR 254.0 million, down from EUR 255.6 million in the preceding month. In a proactive move, the Fund prepaid bank loans to the tune of EUR 1.5 million while also allocating approximately EUR 0.7 million towards tenant fit-outs.
About Baltic Horizon Fund
The Baltic Horizon Fund is structured as a registered contractual public closed-end real estate fund managed by Northern Horizon Capital AS, a licensed Alternative Investment Fund Manager. The Fund actively seeks opportunities for growth and is focused on enhancing its asset portfolio.
Contact Information
For further inquiries or detailed information, interested parties can reach out to:
Tarmo Karotam
Baltic Horizon Fund Manager
E-mail tarmo.karotam@nh-cap.com
Visit our website for more details: www.baltichorizon.com
Frequently Asked Questions
What is the net asset value (NAV) of the Baltic Horizon Fund?
The NAV of the Baltic Horizon Fund per unit stood at EUR 0.7050 at the end of November 2024.
How much rental income did the Fund generate in November 2024?
The consolidated net rental income for the Fund in November 2024 was EUR 0.9 million.
Which school signed a lease agreement with the Fund?
The International School of Riga signed a 5-year lease agreement with the Baltic Horizon Fund in November 2024.
What is the total cash amount held by the Fund?
As of the end of November 2024, the Fund’s consolidated cash and cash equivalents were EUR 5.2 million.
Who manages the Baltic Horizon Fund?
The Baltic Horizon Fund is managed by Northern Horizon Capital AS, an authorized Alternative Investment Fund Manager.