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
Other price sensitive information
Unique data record identifier
9781
Submission date and time
31.08.2022 09:00:00
Content of announcement in Estonian
Title
EfTEN United Property Fund osaku puhasväärtus seisuga 31.07.2022
Message
EfTEN United Property Fund osaku puhasväärtus (NAV) oli juuli lõpus 10,85 eurot, kasvades kuuga 0,3%. Fondi varade puhasväärtus ulatub 27 miljoni euroni, millest pea 10 miljonit eurot on investeerimata. Juulis tegi fond esimese kasumi jaotuse, makstes investoritele pea 212 tuhat eurot. Koos väljamaksega ulatub fondi aastane tootlus 9,4%ni. Suvi on Balti riikide ärikinnisvaraturul olnud väga vaikne. Suuremaid tehinguid pole sisuliselt tehtud. Kas see tähendab, et ostjate ja müüjate hinnaootuste vahel on tekkinud suuremad käärid, näitavad ilmselt lähikuud. Mitmetes Euroopa suurlinnades on esimesed märgid ärikinnisvaraturu riskisuse kasvuga ilmnemas. Nii näiteks on büroosektorile antavate laenude keskmine intress tõusnud aasta alguse 1% tasemelt pea 5% lähedale. See on tase, mis on kohati juba kõrgem nende hoonete poolt genereeritavast renditulust. Baltikumi ärikinnisvaraturu tegelikku tugevust või nõrkust näeme siis kui sektori esimesed suuremad pangalaenud ja võlakirjad vajavad refinantseerimist. Täpsem ülevaade EfTEN United Property Fund portfellist on leitav fondi kodulehel: https://eftenunitedpropertyfund.ee/fondi-tulemused/ Kristjan Tamla Jaeärisuuna juht 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 31.07.2022
Message
The net asset value (NAV) of the EfTEN United Property Fund was 10.85 euros as of July 31, 2022, increasing by 0,3% over the month. The fund's assets reached 27 million euros, of which almost 10 million euros are uninvested. In July, the fund made its first profit distribution, paying almost 212 thousand euros to investors. Together with the pay-out, the fund's 12 months performance is 9.4%. The summer has been very quiet on the Baltic commercial real estate market. There have been essentially no major deals. The coming months will probably show whether this means that a bigger gap has arisen between the price expectations of buyers and sellers. In several large European cities, the first signs of the increasing risk aversion at the commercial real estate market are appearing. For example, the average interest rate on leverage to the office sector has risen from 1% at the beginning of the year to almost 5%. This is a level that in some cases is already higher than the rental income generated by these buildings. We can see whether similar situation will also carry over to the Baltic commercial real estate market when the sector's first major bank loans and bonds will need refinancing. 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: [email protected] (mailto:[email protected])