EfTEN United Property Fund Reports Strong Performance Update
EfTEN United Property Fund Reports Monthly Net Asset Value
The net asset value (NAV) of the EfTEN United Property Fund units reached 11.30 euros at the end of August, reflecting a steady increase of 0.6% month-on-month. Throughout August, the fund achieved a notable net profit of 166 thousand euros, culminating in a total net profit of 2.01 million euros for the first eight months of the year, showcasing a significant rise compared to the 470 thousand euros earned in the same timeframe the previous year.
Recent Renovation Projects and Portfolio Expansion
This month marked the successful completion of a major renovation project for a residential rental apartment building in Riga, an investment the fund holds through the EfTEN Residential Fund. After the renovations, 102 newly revitalized apartments were added to the fund's portfolio, with leasing commencing in early September. Impressively, prior to the final touches being put on the building, around 30% of the apartments were already booked, indicating strong demand.
The fund’s expansive portfolio also features four residential rental buildings housing over 450 apartments located in Tallinn, Vilnius, and Kaunas, which contributes positively to the fund’s ongoing performance.
Investment Activities and Performance Metrics
In the realm of investments, the development firm Invego Uus-Järveküla OÜ, where the fund controls an 80% stake, did not finalize any new real rights contracts during August. However, there was notable activity with the booking of two terraced houses projected for completion in early 2026. The fund generated interest income of 28 thousand euros from this investment within the same month.
In a positive turn, early August saw Invego Uus-Järveküla OÜ distribute a shareholder loan—a combination of principal and accrued interest—totaling 1.2 million euros to the fund. To date, the fund has received more than 2.7 million euros from distributions related to Invego Uus-Järveküla OÜ, showcasing the robust performance of this investment.
Future Distributions and Expectations
Looking ahead, the fund plans to announce the details, including the amount and date of the next distribution to investors in October. This announcement will be based on the income received from the EfTEN Real Estate Fund 5, which encompasses interest from owner loans linked to the Kristiine and UNA shopping centers, as well as distributions from the EfTEN Special Opportunities Fund. Additionally, this distribution will include 126 thousand euros in interest on the owner loan from Invego Uus-Järveküla OÜ in August.
Exploring More About EfTEN's Portfolio
For those interested in gaining deeper insights into the EfTEN United Property Fund’s diverse portfolio, further details can be found on the fund's official website. The comprehensive information can empower investors to understand the ongoing developments and progress that the fund is making.
Company Contact Information
If you have any inquiries or need more personalized information regarding investments or the fund's performance, feel free to reach out to:
Kristjan Tamla
Managing Director
Phone: 655 9515
Email: kristjan.tamla@eften.ee
Frequently Asked Questions
What is the net asset value (NAV) of EfTEN United Property Fund?
The NAV is currently reported at 11.30 euros, reflecting a 0.6% increase month-on-month as of the end of August.
How much profit did the fund earn in August?
In August, the fund achieved a net profit of 166 thousand euros.
What projects are currently in the fund's portfolio?
The fund has recently added 102 renovated apartments in Riga and maintains a portfolio including four residential rental properties with over 450 apartments across various cities.
When will the next investor distribution be announced?
The fund intends to announce the amount and date for the next distribution in October.
How can investors learn more about the fund's performance?
Interested parties can find further information and insights about the fund on its official website.
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