Net asset value of the EfTEN United Property Fund as of 30.06.2026
EfTEN United Property Fund earned a net loss of 103 thousand euros in June and a net profit of 709 thousand euros for the first six months of the year (compared with 1,679 thousand euros in the same period last year). The net asset value (NAV) of the fund unit was 11.62 euros at the end of June, a decline of 0.4% over the month.
The June loss was primarily related to the regular valuation of the fund’s assets carried out at the end of the half-year. Across segments, mainly the valuations of office assets decreased. This was partly offset by the increase in the value of the Kristiine shopping centre — in which the fund is invested through the EfTEN Real Estate Fund 5 — and of the value of residential rental properties in the EfTEN Residential Fund.
Invego Uus-Järveküla OÜ, a development company in which the fund has an 80% stake, concluded one real rights contract in June and development company earned 69 thousand euros of profit. As EfTEN United Property Fund values all equity investments at fair value, the June profit from the Uus-Järveküla development project has been recognised in the fund’s balance sheet in prior periods. As of the end of June four terraced houses and two plots remain unsold in the development project.
After the balance sheet date, at the beginning of July, the fund sold the Menulio 7 office building in Vilnius. The buyer will repay the shareholder loan from EfTEN United Property Fund in the amount of EUR 2.899 million within 17 months at the latest. The shareholder loan bears 9% annual interest during the first 12 months and 12% thereafter. As security for the loan, a first-ranking mortgage over the Menulio 7 property has been established in favour of the fund, and the owner is not permitted to take on any obligations that would rank ahead of the fund’s claim
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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