EfTEN United Property Fund's NAV Performance Update
The EfTEN United Property Fund has shown promising growth in its net asset value (NAV), reaching 10.68 euros at the conclusion of September. This reflects a 0.2% increase over the previous month. If the NAV were adjusted to account for the fund's investment in the EfTEN Real Estate Fund AS shares, it would rise to 10.84 euros, indicating a 0.4% monthly increase.
Profit Insights and Share Performance
In September, the fund reported a net profit of 64 thousand euros. Despite this positive result, it also experienced a loss of 38 thousand euros concerning its investment in EfTEN Real Estate Fund AS shares. Over the first nine months of the year, the fund achieved a net profit of 534 thousand euros, a significant recovery compared to a loss of 87 thousand euros at the same time the previous year.
Development Projects and Financing Updates
As the fund continues its development ventures, October brought good news regarding the Uus-Järveküla project. Here, the subsidiary successfully renegotiated the financing terms with the bank for the completion of the second and third construction phases, which involve constructing a total of 47 semi-detached and terraced houses. The new loan agreement also provided a reduction of 180 basis points in the interest margin, thus presenting a more favorable position for the fund moving forward.
Distribution of Income to Investors
By the end of October, the fund secured over 140 thousand euros in income from its investment in EfTEN Real Estate Fund 5, further adding to its financial health. This income will be distributed among the investors on November 14, marking a continued commitment to returning value to those invested in the fund.
Company Contact Information
For more information regarding the EfTEN United Property Fund, investors and interested parties can reach out to Kristjan Tamla, the Managing Director. He can be contacted via phone at 655 9515 or through 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 10.68 euros, reflecting a growth of 0.2% over the previous month.
What was the fund's net profit in September?
In September, the fund earned a net profit of 64 thousand euros, although it incurred a loss of 38 thousand euros from its investment in the EfTEN Real Estate Fund AS shares.
What recent developments has the fund undertaken?
The fund has been proactive in its Uus-Järveküla development project, renewing bank financing terms and reducing its interest margin by 180 basis points.
When will investors receive the distributed income?
The fund plans to distribute over 140 thousand euros to its investors on November 14, enhancing the return on their investments.
How can I get in touch with the fund's management?
Kristjan Tamla, the Managing Director, can be contacted at phone number 655 9515 or via email at kristjan.tamla@eften.ee.
