The net asset value (NAV) per unit of the Baltic Horizon Fund (the Fund)
amounted to EUR 0.9078 at the end of April 2024 (0.9087 as of 31 March 2024).
The month-end total net asset value of the Fund was EUR 108.6 million and
remained at a similar level compared to the prior month (EUR 108.7 million as of
31 March 2024). The EPRA NRV as of 30 April 2024 stood at EUR 0.9490 per unit.
The Fund has earned a consolidated net rental income of EUR 1.0 million in April
2024 (EUR 1.0 million in March 2024). In April, the Fund's rental income with
LNK Industries SIA in S27 came to an end. During April, the Fund signed lease
agreements with new anchor tenant MyFitness in Galerija Centrs and Apollo Group
in Coca-Cola Plaza for approx. 2,000 sq. m and 2,200 sq. m respectively. These
and other recent leases will start to gradually increase the NOI of the Fund
over Q2 2024 - Q1 2025 as the tenants move in.
At the end of April 2024, the Fund's consolidated cash and cash equivalents
amounted to EUR 6.8 million (31 March 2024: EUR 12.5 million). As of 30 April
2024, the total consolidated assets of the Fund were EUR 263.0 million (31 March
2024: EUR 268.3 million). The decrease is mainly related to a cash outflow of
EUR 4.5 million in April 2024 for the partial early repayment of short-term
bonds.
For additional information, please contact:
Tarmo Karotam
Baltic Horizon Fund manager
E-mail tarmo.karotam@nh-cap.com
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Baltic Horizon Fund is a registered contractual public closed-end real estate
fund managed by Alternative Investment Fund Manager license holder Northern
Horizon Capital AS. Both the Fund and the Management Company are supervised by
the Estonian Financial Supervision Authority.
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projects, plans and more, register on www.baltichorizon.com
(https://www.baltichorizon.com/). You can also follow Baltic Horizon Fund
on www.baltichorizon.com (https://www.baltichorizon.com/) and on LinkedIn
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