EfTEN United Property Fund Reports October Earnings and NAV
Insights into EfTEN United Property Fund's Recent Performance
EfTEN United Property Fund demonstrated a net profit of 110 thousand euros for October, totaling 2.214 million euros for the first ten months of the year, marking a significant improvement from 724 thousand euros during the same period last year. This impressive financial outcome led to a distribution to investors amounting to 420 thousand euros, translating to 16.9 euro cents per unit. Consequently, the net asset value (NAV) of the fund's unit experienced a slight decline of 1.1%, settling at 11.22 euros by the end of October. Had the distribution not occurred, the NAV would have seen a modest increase of 0.4%.
Property Developments in Uus-Järveküla
In an exciting development for the fund, six terraced houses have been reserved in the Invego Uus-Järveküla OÜ project, in which the fund holds an 80% stake. This level of new reservations is noteworthy, reflecting a strong interest in this residential project, achieved only a few times in the company’s history. Currently, the Uus-Järveküla residential area has 18 terraced houses available, completed or slated for completion by early 2026, that remain unreserved. Throughout October, the EfTEN United Property Fund received 24 thousand euros in interest income from its various investments.
Investments and Future Potential
The fund's largest investment, the EfTEN Real Estate Fund 5, in which EfTEN United Property Fund holds a 36.5% share, reported a profit of 220 thousand euros. Looking ahead, the loan agreement for the fund's second-largest investment, the former Danske Bank head office located in Vilnius, is set to expire soon. The bank has proposed an extension of the agreement with a revised repayment schedule, which would enhance the fund's cash flow. As of now, 83% of the building's space is leased, with a new lease signed for the remaining area, effective from March next year. This strategic leasing arrangement is expected to stabilize and potentially boost future revenue for the fund, particularly as the market continues to show signs of recovery.
Comprehensive Overview of the Fund's Portfolio
For a more detailed overview of the EfTEN United Property Fund's portfolio, interested parties can access additional information on the fund's website. This transparency not only highlights the fund's ongoing projects but also underscores the strategic decisions being made to ensure investor confidence and market credibility.
Contact Information
For inquiries, investors and interested parties can reach out to Kristjan Tamla, the Managing Director of EfTEN United Property Fund. He can be contacted via phone at 655 9515 or through email at kristjan.tamla@eften.ee.
Frequently Asked Questions
What is the net profit for EfTEN United Property Fund in October?
The net profit for EfTEN United Property Fund in October was 110 thousand euros.
What is the NAV of EfTEN United Property Fund?
The NAV of EfTEN United Property Fund at the end of October was 11.22 euros per unit.
What percentage of the fund does EfTEN Real Estate Fund 5 constitute?
EfTEN United Property Fund owns 36.5% of the EfTEN Real Estate Fund 5.
How many terraced houses were booked in October?
In October, clients booked six terraced houses in the Uus-Järveküla project.
Who can investors contact for more information?
Investors can contact Kristjan Tamla, Managing Director, at phone number 655 9515 or via email at kristjan.tamla@eften.ee.
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