Net asset value of the EfTEN United Property Fund as of 30.06.2025
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The net asset value (NAV) of EfTEN United Property Fund units was 11,17 euros at the end of June, increasing by 1,3% per month. The fund earned a net profit of 358 thousand euros in June and a net profit of 1.679 million euros during the first half of 2025 (last year at the same time 401 thousand euros).
In June, the fund earned the largest profit (384 thousand euros) from its investment in the development company Invego Uus-Järveküla OÜ. During the month 14 terraced houses of the development’s third stage were transferred to clients in the Uus-Järveküla (real right agreements were concluded), from which the company earned a profit of 479 thousand euros. Due to the obligation to repay the bank loan associated with the conclusion of property rights agreements, the development company's bank loan balance decreased to zero by the end of June. The final stage of the development (32 terraced houses) is scheduled to be completed in q1 2026. To date 7 terraced houses of the development’s final stage have been booked by clients.
As of the end of June, a regular valuation of the EfTEN United Property Fund assets took place. Among the fund's larger underlying properties, the value of former Danske bank office building where the fund is invested through EfTEN Real Estate Fund 5, and Menulio 7 office building in Vilnius decreased. This was balanced by the increased value of EfTEN Kinnisvarafond II AS properties. The value of the Kristiine shopping center, which is part of the EfTEN Real Estate Fund 5 portfolio, did not change as a result of the valuation. In terms of financial results, the first half of the year turned out to be successful for the center – the planned EBITDA was exceeded by 5%. Overall, the results of the half-year valuation had a small negative impact on the fund's financial results.
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/
Kristjan Tamla
Managing Director
Phone: 655 9515
E-mail: [email protected]
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