EfTEN United Property Fund Reports August Performance Results
EfTEN United Property Fund's Net Asset Value Insights
The net asset value (NAV) of the EfTEN United Property Fund was measured at 10.66 euros as of the end of August. This shows a slight increase of 0.1% compared to the previous month. This modest growth can be attributed to the dip in shares of the EfTEN Real Estate Fund AS, which saw a 0.8% decline on the Tallinn stock market. Additionally, the one-time expenses related to the UNA retail park transaction in Lithuania had an impact.
Profitability Overview
When evaluating the investment in EfTEN Real Estate Fund AS shares against the NAV, the fund's value would rise to 10.79 euros, reflecting a 0.3% increase over the month. The fund generated a net profit of 23 thousand euros for August. Over the first eight months of the current year, the fund has accumulated a net profit of 470 thousand euros, a significant improvement compared to the loss of 370 thousand euros during the same period last year.
Investment Developments
In August, the fund experienced a reduction in uninvested capital, which fell by 4.8 million euros amidst a record investment for the fund—the acquisition of the UNA retail park in Vilnius facilitated through EfTEN Real Estate Fund 5. By the end of the month, the uninvested capital stood at 2.3 million euros, accounting for less than 9% of the fund's total equity.
Rental Market Performance
Apartment Leasing Success
The residential rental building in Vilnius successfully signed rental agreements for 39 apartments in August, as it began accommodating tenants mid-summer. This achievement represents an impressive occupancy rate, with 50% of the 146 apartments fully leased. Moreover, the rental buildings in Tallinn and Kaunas show near-total occupancy, with 99% and 98% of their respective 114 and 96 apartments rented out.
Continued Investment Growth
The EfTEN United Property Fund maintains a strategic focus on housing solutions, ensuring its portfolio adapts to market demands. This approach is evident in their current investments, which are designed to enhance value and foster growth. Looking ahead, the fund is poised to explore further opportunities for expansion and improvement within its multifaceted portfolio.
Investor Relations
For more information regarding the performance and updates of the EfTEN United Property Fund, investors are encouraged to visit the fund's official website for a detailed overview of its portfolio and results.
Contact Information
Kristjan Tamla, the Managing Director, is available for any inquiries. He can be reached at phone number 655 9515 or by email at kristjan.tamla@eften.ee.
Frequently Asked Questions
What is the current net asset value of EfTEN United Property Fund?
The NAV of EfTEN United Property Fund is currently 10.66 euros, reflecting a 0.1% increase in August.
How much profit did the fund make in August?
In August, the fund achieved a net profit of 23 thousand euros, contributing to a total profit of 470 thousand euros over eight months this year.
What impact did the UNA retail park acquisition have?
The acquisition of the UNA retail park in Vilnius reduced uninvested capital by 4.8 million euros, a record investment for the fund.
What are the occupancy rates of the rental properties?
Currently, the Vilnius residential rental building has 50% occupancy, while buildings in Tallinn and Kaunas boast 99% and 98% occupancy rates, respectively.
How can investors contact the EfTEN United Property Fund?
Investors can contact Kristjan Tamla, the Managing Director, via phone at 655 9515 or email at kristjan.tamla@eften.ee.
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