Invego Uus-Järveküla OÜ, financed by EfTEN United Property Fund, and Coop Pank AS signed the terms of amending the loan agreement for the Uus-Järveküla residential area, which, among other things, will allow the fund to make the largest profit distribution in its history to investors.
To date, almost 80% of the total volume of the development has been purchased or booked by clients in the Uus-Järveküla residential area. According to the updated loan agreement, Coop Pank AS will finance 100% of the construction price of all the 32 terraced houses in the final stage of the Uus-Järveküla residential area, to be completed in the first quarter of 2026. The current interest margin of the development loan will be reduced by 20bp to 450 basis points.
According to the updated loan terms, it will be possible to pay out a part of the project’s available funds to the owners of Invego Uus-Järveküla OÜ. As a result, EfTEN United Property Fund received 1.516 million euros, of which approximately 1 million euros is accrued interest on owner loans, and the remaining amount decreased the balance of the owner loans granted by the fund.
EfTEN United Property Fund plans to distribute the accrued interest on the Invego Uus-Järveküla OÜ loan (approximately 1 million euros) together with dividends and interest income received from the underlying funds to investors in May of this year. The amount of the payout will be approximately 7% of the last closing price of the fund unit. The fund will announce the exact amount and the date of the payout upon receipt of dividends and interest income from the underlying funds.
