Insights on EfTEN United Property Fund's Net Asset Value
As of the end of August, the net asset value (NAV) of the EfTEN United Property Fund stands at 10.66 euros, which marks a slight increase of 0.1% from the previous month. This modest growth is largely linked to the decline in shares of EfTEN Real Estate Fund AS, which fell by 0.8% on the Tallinn stock exchange. Additionally, some one-time expenses tied to the transaction for the UNA retail park in Lithuania played a role in this figure.
Evaluation of Profitability
When we compare the investment in EfTEN Real Estate Fund AS shares to the NAV, the fund's value rises to 10.79 euros, showing a 0.3% gain over the month. In August alone, the fund generated a net profit of 23 thousand euros. Over the first eight months of this year, the total net profit has reached 470 thousand euros, a notable turnaround from the loss of 370 thousand euros during the same period last year.
Recent Investment Developments
In August, there was a reduction in uninvested capital, which dropped by 4.8 million euros as the fund made a record investment by acquiring the UNA retail park in Vilnius through EfTEN Real Estate Fund 5. By the end of the month, the uninvested capital was 2.3 million euros, making up less than 9% of the fund's total equity.
Performance of the Rental Market
Success in Apartment Leasing
The residential rental building in Vilnius signed rental agreements for 39 apartments in August, starting to welcome tenants in mid-summer. This achievement translates to an impressive occupancy rate of 50% for the 146 apartments available. Meanwhile, the rental buildings in Tallinn and Kaunas are nearly fully leased, with occupancy rates of 99% and 98% for their 114 and 96 apartments, respectively.
Ongoing Investment Growth
The EfTEN United Property Fund remains committed to providing housing solutions, ensuring its portfolio aligns with market needs. This focus is evident in their current investments, which are structured to enhance value and promote growth. Looking forward, the fund is ready to seek additional opportunities for expansion and improvements across its diverse portfolio.
Connection with Investors
For detailed information about the EfTEN United Property Fund's performance and updates, investors are encouraged to visit the fund's official website, which provides an in-depth overview of its portfolio and results.
Contact Information
If you have any questions, Kristjan Tamla, the Managing Director, is available to assist. You can reach him at phone number 655 9515 or via email at kristjan.tamla@eften.ee.
Frequently Asked Questions
What is the current net asset value of the EfTEN United Property Fund?
The NAV of the 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, marking 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 occupancy rates of 99% and 98%, 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.
