Correction: Net asset value of the EfTEN United Property Fund as of 31.10.2024
Monthly financial factsheet is attached to this announcement.
In October, EfTEN United Property Fund announced an income distribution of 142 thousand euros, which was paid out to investors on November 14. As a result, the fund’s net asset value (NAV) increased by 0.2% in October to 10.70 euros. Excluding the cash distribution, EfTEN United Property Fund’s NAV would have increased by 0.6% in October.
In October, the average interest rate on the fund’s liabilities decreased by 50 basis points to 5.6%. The sharp decrease was related to the decrease in EURIBOR and the renewal of the Uus-Järveküla residential development loan agreement on more favorable terms.
In November, EfTEN United Property Fund announced a planned investment in the EfTEN Real Estate Fund 5. This will make the fund an investor in one of Tallinn’s largest shopping centers – Kristiine Keskus. The center’s share will be approximately 10% of the fund’s assets. Upon completion of the investment, the EfTEN United Property Fund has almost fully invested the raised equity.
A more detailed overview of EfTEN United Property Fund’s portfolio can be found on the fund’s website: https://eftenunitedpropertyfund.ee/en/fund-results-2/
Kristjan Tamla
Managing Director
Phone 655 9515
E-mail: kristjan.tamla@eften.ee
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