Skip to main content

Net asset value of the EfTEN United Property Fund as of 31.10.2022

Written by Customer Service on . Posted in Public Companies.

The net asset value (NAV) of the EfTEN United Property Fund was 10.99 euros as of October 31, 2022, increasing by 0,4% over the month. Since the start of the fund in late June 2021 the total return has been 10,8% and the return on invested capital 12,3%. The fund has 1/3 of it’s capital as uninvested.

The behaviour of tenants in the fund’s larger objects has not been affected by the recent business cycle slowdown in the Baltic countries. The former Danske office building in Vilnius (the fund is invested through the EfTEN Real Estate Fund 5) has a vacancy rate at only 2%, and the Menulio 7 office building at 5%. In October and November, two new lease agreements were signed in the Menulio 7 office building, and the lease agreements with two existing tenants were extended.

In November the fund increased its position in EfTEN Kinnisvarafond by acquiring 354 thousand shares from the secondary market at a price of 2.8152 EUR per share (10% below the October NAV of the EfTEN Kinnisvarafond). With this, the share of the EfTEN Kinnisvarafond in EfTEN United Property Fund portfolio increased from 13% to 17%.

At the end of November, the EfTEN Real Estate Fund 5 increased the existing relatively low leverage (45% of the object’s value) of the former Danske Vilnius office building. During this year we have leased out over 6 000 sqm of space and through the change of tenant mix, the building’s annual rental income has increased by almost 15%. This allows to comfortably service a higher debt level. Upon receival, the EfTEN United Property Fund will pass it on to investors. It will be the second pay out to investors since the foundation of the fund.

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
Head of Retail
Phone 655 9515
E-mail: kristjan.tamla@eften.ee

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.