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EfTEN United Property Fund / EFTEN Capital AS

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10.02.2025 16:00:54

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EfTEN United Property Fund veebiseminari kokkuvõte

Teade

10. veebruaril 2025 toimus EfTEN United Property Fund veebiseminar, kus EfTEN
Capitali AS-i tegevjuht Kristjan Tamla tutvustas EfTEN United Property Fund´i
2024.a auditeerimata tulemusi ja rääkis fondi eelolevatest plaanidest.

Veebiseminari kokkuvõte:

  * EURIBORi langusega on kaasnenud Euroopa ja Skandinaavia kinnisvarasektori
    ettevõtete riskide alanemine. Ettevõtete võlakirjade riskimarginaalid on
    taas langenud 3-4 aasta tagusele ajale;

  * Baltikumis on laenude kättesaadavus kinnisvarasektoris hea ning
    laenumarginaalid on alanenud. Uut omakapitali on sektoris vähe, mistõttu on
    tegu nn ostjate turuga ja suuremaid tehinguid tehakse alla bilansilise
    väärtuse;

  * EfTEN United Property Fund saavutas 2024. aastal rekordilise kasumi 1,623
    miljonit eurot ning aasta teisel poolel paigutas kogu investeerimata
    kapitali kinnisvarasse;

  * Fondi portfelli lisandusid läbi usaldusfondi EfTEN Real Estate Fund 5
    suurima investeeringuna UNA kaubanduspark Vilniuses ning osalus Kristiine
    kaubanduskeskuses Tallinnas;

  * Fondi Uus-Järveküla arendusinvesteeringus on klientide poolt ostetud või
    broneeritud üle 70% arenduse lõplikust mahust. Arendus on plaanis lõpule
    viia 2025. a lõpus hiljemalt 2026. a alguses;

  * Fondi osaku hinda on Tallinna väärtpaberiturul surve all hoidnud ühe
    investori poolne enam kui 3% suuruse positsiooni likvideerimine. 2025. a
    jaanuari lõpu seisuga omas see investor veel alla 0,2% fondist (fondi osaku
    börsihinna alusel alla 40 tuhande euro);

  * 2025. aastal plaanib fond jaotada investoritele tulu kolmel korral:
    hiliskevadel kui laekuvad alusfondidest saadavad dividendid ning kaks korda
    aasta teisel poolel kui laekuvad intressid laenukapitali vormis tehtud
    investeeringutelt .



EfTEN  Capital  AS  tänab  kõiki  osalejaid.  Veebiseminari  salvestus on järele
vaadatav siit  (https://youtu.be/4JcXrt_0P-s)  ja  presentatsiooni  leiab  fondi
kodulehel     siit    (https://eften.ee/wp-content/uploads/2025/02/EfTEN-United-
Property-Fund_webinar_2025_02.pdf).



Kristjan Tamla

Tegevjuht

Tel 655 9515


E-post: [email protected] (mailto:[email protected])

Pealkiri

Summary of the EfTEN United Property Fund webinar

Teade

On 10 February 2025, a webinar of EfTEN United Property Fund was held, where
Kristjan Tamla, the managing director of EfTEN Capital AS, introduced the
unaudited 2025 results of EfTEN United Property Fund and discussed the plans of
the fund.

Summary of the webinar:

  * The decline in EURIBOR has led to a decrease in the risk margins of the
    European and Scandinavian real estate sector companies. The risk margins of
    corporate bonds have fallen back to the level of 3-4 years ago;

  * In the Baltics, the availability of bank loans in the real estate sector is
    good and lending margins have decreased. There is little new equity in the
    sector, making it a so-called buyer's market and major transactions are
    being made below book value;

  * EfTEN United Property Fund achieved a record profit of 1.623 million euros
    in 2024 and in the second half of the year the portfolio became fully
    invested;

  * The UNA retail park in Vilnius and the Kristiine shopping center in Tallinn
    through the EfTEN Real Estate Fund 5 were added to the portfolio as the
    largest investments;

  * In the fund's Uus-Järveküla residential development, over 70% of the final
    volume of the development has been purchased or booked by clients. The
    development is planned to be completed at the end of 2025 or at the
    beginning of 2026;

  * The fund's unit price has been under pressure on the Tallinn stock exchange
    due to the liquidation of a position of more than 3% by one investor. As of
    the end of January 2025, this investor owned less than 0.2% of the fund
    (less than 40 thousand euros based on the stock market price of the fund's
    unit);

  * In 2025, the fund plans to distribute income to investors three times: in
    late spring when dividends from the underlying funds are received and twice
    in the second half of the year when interest on investments made in the form
    of loan capital is received.


The EfTEN Capital AS would like to thank all participants. The recording of the
webinar can be followed up here (https://youtu.be/4JcXrt_0P-s) and the
presentation is available at the fund's web page here (https://eften.ee/wp-
content/uploads/2025/02/EfTEN-United-Property-Fund_webinar_2025_02-1.pdf).



Kristjan Tamla

Managing Director

Phone 655 9515

E-mail: [email protected] (mailto:[email protected])