The net asset value (NAV) per unit of the Baltic Horizon Fund (the Fund) amounted to EUR 0.9078 at the end of April 2024 (0.9087 as of 31 March 2024). The month-end total net asset value of the Fund was EUR 108.6 million and remained at a similar level compared to the prior month (EUR 108.7 million as of 31 March 2024). The EPRA NRV as of 30 April 2024 stood at EUR 0.9490 per unit.
The Fund has earned a consolidated net rental income of EUR 1.0 million in April 2024 (EUR 1.0 million in March 2024). In April, the Fund’s rental income with LNK Industries SIA in S27 came to an end. During April, the Fund signed lease agreements with new anchor tenant MyFitness in Galerija Centrs and Apollo Group in Coca-Cola Plaza for approx. 2,000 sq. m and 2,200 sq. m respectively. These and other recent leases will start to gradually increase the NOI of the Fund over Q2 2024 – Q1 2025 as the tenants move in.
At the end of April 2024, the Fund’s consolidated cash and cash equivalents amounted to EUR 6.8 million (31 March 2024: EUR 12.5 million). As of 30 April 2024, the total consolidated assets of the Fund were EUR 263.0 million (31 March 2024: EUR 268.3 million). The decrease is mainly related to a cash outflow of EUR 4.5 million in April 2024 for the partial early repayment of short-term bonds.
