EfTEN: Net asset value of the EfTEN United Property Fund as of 31.07.2023

The net asset value (NAV) of the EfTEN United Property Fund was 10.61 euros as of July 31, 2023, remaining unchanged as compared to the previous month. 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.

For several months in a row, the value of EfTEN Kinnisvarafond II AS grew the most in the fund’s portfolio, increasing by 0.8% in July. One of the largest investments of this fund, the Radisson Collection hotel in Tallinn, achieved 84% occupancy in July. In addition, EfTEN Kinnisvarafond II AS refinanced the bank loan of the Magistrali shopping centre in Tallinn Mustamäe district. As a result, the interest on loan decreased from 5.9% to 4.7%.

The value of EfTEN Real Estate Fund AS was the only one to decrease in the fund portfolio – the share price of the EfTEN Real Estate Fund AS closed at the Tallinn Stock Exchange at almost 2% lower level at the end of July as compared to the previous month.

In July, EfTEN United Property Fund made no new investments.

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/

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