The net asset value (NAV) of the Baltic Horizon Fund (the Fund) unit at the end of February 2023 amounted to EUR 1.1145 per unit. Compared to the previous month, NAV per unit decreased by 0.28%. The total net asset value of the Fund amounted to EUR 133.3 million over the month. The NAV change was mainly impacted by the recognition of the sale result of Domus Pro transaction. The decrease in NAV was partially offset by the positive movement in the cash flow hedge reserve. The EPRA NRV as of 28 February 2023 was EUR 1.1819 per unit, corresponding to a decrease of 0.73% over the last month.
Unaudited consolidated net rental income for February 2023 amounted to EUR 1.4 million (EUR 1.4 million in January 2023). The net rental income has increased by 2.8% compared to January 2023. The Fund recognized an unaudited consolidated net loss of EUR 0.9 million in February 2023.
At the end of February 2023, the Fund’s consolidated cash and cash equivalents amounted to EUR 6.7 million (31 December 2022: EUR 5.3 million). The Fund has invested an additional EUR 0.3 million into the finalization of the refurbishment project of Galerija Centrs Food hall. Operational costs are fully covered by cash flows generated by rental activities.
As of 28 February 2023, the total consolidated assets of the Fund were EUR 344.5 million (31 December 2022: EUR 344.0 million).