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.…
Inflation has so far proven to be both higher and more persistent than previously expected, and central banks were late in taking away the punch bowl. Households around the globe are holding back on consumption as the cost-of-living shock hits…
MANAGEMENT REPORT CEO summary The second quarter of 2022 continued the trend we have seen in Q1, with a strong demand for real estate assets in the Baltic countries (particularly Estonia and Lithuania). Our available inventory is mainly sold, but…
Management Board of Northern Horizon Capital AS has approved the unaudited consolidated interim financial statements of Baltic Horizon Fund (the Fund) for the six months of 2022. Distributions to unitholders for Q1 2022 and Q2 2022 Fund results On 28…
GROUP CEO’S REVIEW In the second quarter, we reached the moment every real estate developer is waiting for once again, being able to commence the handover of completed homes to our clients in Kodulahe Kvartal, the sales revenue of 41…
The fund manager’s comments on the financial results of the first half-year of 2022 The first half-year of 2022 turned out to be successful for EfTEN Real Estate Fund III AS. The fund’s revenue increased to EUR 6.988 million, i.e.…
On July 25, 2022, Hepsor AS and LHV Pank AS signed an addendum to the loan agreement increasing the loan amount by 2 million euros to 6 million euros. The signing of addendum did not change the term of the…
All main rates hiked by 50bps, more than markets expected Transmission protection instrument (TPI) introduced The Governing Council raised all three key ECB interest rates by 50bps – more than markets and most economists have expected. As we expected, new…
Over the quarter, housing affordability deteriorated in all three Baltic capitals. Compared with the same period last year, the housing affordability index (HAI) increased in Vilnius but declined in Riga and Tallinn, with the Estonian capital registering a more pronounced…
Main rates unchanged, but very clear forward guidance of upcoming rate hikes l We now forecast 25bp hike in all rates in July, followed by a 50bp hike in September The Governing Council decided to end net asset purchases under…
The net asset value (NAV) of EfTEN Real Estate Fund III AS was 19.0549 euros as of 31.05.2022, increasing by 0.8% during May. The net asset value of the EPRA share (EPRA NRV – net book value excluding the deferred…
Management Board of Northern Horizon Capital AS has approved the unaudited consolidated interim financial statements of Baltic Horizon Fund (the Fund) for the three months of 2022. Distributions to unitholders for Q1 2022 Fund results On 28 April 2022, the…
The net asset value (NAV) of EfTEN Real Estate Fund III AS was 18.9039 euros as of 30.04.2022, decreasing by 3.3% during April. The net asset value of the EPRA share (EPRA NRV – net book value excluding the deferred…
EfTEN Real Estate Fund III AS’s consolidated revenue for the first quarter of 2022 was 3.458 million euros (2021 I quarter: 2.867 million euros), increased by 21% compared to previous year. The Group’s net rental income in the first quarter…
GROUP CEO’S REVIEW The first quarter of this year brought important changes to the Arco Vara group – we founded a construction contracting company Arco Tarc OÜ. This company provides services to the developments of Arco Vara with the main…