The net asset value (NAV) p
er unit of the Baltic Horizon Fund (the Fund) amounted to EUR 0.9126 at the end of February 2024, increasing by 0.1% over the month (0.9118 as of 31 January 2024). The month-end total net asset value of the Fund experienced a slight increase, reaching a value of EUR 109.2 million (EUR 109.1 million as of 31 January 2024). The slight increase was mostly affected by improved net operating income. The EPRA NRV as of 29 February 2024 stood at EUR 0.9541 per unit.
The Fund has earned a consolidated net rental income of EUR 1.0 million in February 2024 (EUR 0.8 million in January 2024). The increase in net rental income was mainly driven by annual indexations applied to most of the tenants in February. In February 2024, the Fund signed leases for a total of 1,037 square meters in Europa, 454 in Meraki and prolonged lease agreement for 1,170 square meters in Northstar for a period of 4 years.
At the end of February 2024, the Fund’s consolidated cash and cash equivalents amounted to EUR 4.4 million (31 January 2024: EUR 5.5 million). As of 29 February 2024, the total consolidated assets of the Fund decreased to EUR 260.0 million (31 January 2024: 261.1 million). The Fund has made coupon payment of EUR 1.1 million to the bondholders in February 2024.
