Market announcement
EfTEN United Property Fund / EFTEN Capital AS
LEI code
984500E070A0V4E8CO64
Size of the entity
Small group
Economic activities
Financial and Insurance Activities
Industry sector(s)
Management company
Country of registered office
Estonia
General information
Categories
Management interim statement or quarterly financial report
Unique data record identifier
10512
Submission date and time
31.07.2023 08:20:00
Content of announcement in Estonian
Title
EfTEN United Property Fund osaku puhasväärtus seisuga 30.06.2023
Message
EfTEN United Property Fund osaku puhasväärtus (NAV) oli 30.06.2023 seisuga 10,61 eurot. Seoses fondi investeeringute korrapärase hindamisega, alanes NAV kuuga 0,3%. Alates fondi loomisest 2021.a juuni lõpus, on investeeritud kapitali tootlus 11%. Fondi omakapitalist on pea 30% investeerimata. Juunis aset leidnud fondi tütarettevõtetele kuuluvate kinnisvarainvesteeringute ja alusfondide hindamise tulemusena alanes nende väärtus 0,9% võrra. Selle põhjuseks oli intresside tõusust tulenev tuleviku rahavoogude kõrgem diskonteerimise määr. Võrreldes teiste Euroopa ja Balti riikide kinnisvarafondidega jäi EfTEN United Property Fund'i portfellis olevate investeeringute allahindlus suhteliselt väikeseks. Allahindlust tasakaalustasid üüritulude indekseerimine ning fondi suur investeerimata kapitali osakaal. Enim on aastataguse perioodiga võrreldes kasvanud üüritulud fondi investeerimisportfelli kuuluvas Vilniuse kahes büroohoones - Menulio 7 asuva hoone üüritulu kasvas seoses vakantsuse vähenemise ning indekseerimistega aastaga 12% võrra ning endise Danske büroohoone, kus fond omab osalust läbi usaldusfondi EfTEN Real Estate Fund 5, üüritulu on aastaga kasvanud 9%. Sellest tulenevalt oli Menulio 7 asuv büroohoone üks vähestest kinnisvarainvesteeringutest, mille väärtus juuni korralise hindamise tulemusena tõusis. Juunis investeeris fond täiendavalt 240 tuhat eurot usaldusfondi EfTEN Residential Fund, mis omandas 102 korteriga üürimaja Riias. Tegemist on olemasoleva kortermajaga, mis on kavandatud täielikult renoveerida. Investeeringu kogumaksumus on eelarve kohaselt 7,2 miljonit eurot (ca 1 900 eurot üüritava ruutmeetri kohta). Usaldusfondi EfTEN Residential Fund Kaunase üürimaja, mis valmis käesoleva aasta kevadel, täituvus on tõusnud 63%le. Detailsem EfTEN United Property Fund portfelli ülevaade on leitav fondi kodulehel: https://eftenunitedpropertyfund.ee/fondi-tulemused/ Kristjan Tamla Tegevjuht Tel: 655 9515 E-post: [email protected] (mailto:[email protected])
Content of announcement in English
Title
Net asset value of the EfTEN United Property Fund as of 30.06.2023
Message
The net asset value (NAV) of the EfTEN United Property Fund was 10.61 euros as of June 30, 2023. The NAV decreased by 0.3% in a month, which was related to the regular evaluation of the fund's investments. Since the start of the fund in late June 2021 the return on invested capital has been 11%. The fund has almost 30% of its capital as uninvested. The fair value of real estate investments and underlying funds decreased by 0.9% as a result of the June evaluation. This was due to a higher discount rate for future cash flows resulting from rising interest rates. Compared to other European and Baltic real estate funds, the value decrease of the EfTEN United Property Fund portfolio remained relatively small. This was balanced by the indexation of rental income and the fund's large uninvested capital. Compared to the year ago period, the rental income has increased the most in the Vilnius two office buildings - the rental income of the Menulio 7 building increased by 12% year-on-year due to the decrease in vacancy and rent indexation, while the rental income of the former Danske office building, where the fund is invested through the EfTEN Real Estate Fund 5, has increased by 9% year-on-year. As a result, the Menulio 7office building was one of the few real estate investments which value increased on the regular evaluation in June. In June, the fund invested 240 thousand euros in the EfTEN Residential Fund for the purchase of a rental house with 102 apartments in Riga. It is an existing apartment building to be fully renovated. The total investment is planned to be 7.2 million euros (approx. 1,900 euros per rentable sqm). The occupancy of the EfTEN Residential Fund Kaunas rental house, which was completed in the spring of this year, has increased to 63%. 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: [email protected] (mailto:[email protected])