The net asset value (NAV) of EfTEN United Property Fund unit was 10.70 euros at the end of April, increasing by 0.9% over the month. The jump in NAV was related to the investment of the listed fund EfTEN Real Estate Fund AS, whose shares closed on the Tallinn stock exchange at 4% higher than a month ago. The fund’s return on unlisted investments was on average 0,4% in April.
In May, EfTEN United Property Fund invested 255 thousand euros in the EfTEN Residential Fund, which was used to complete the construction of a rental house with 145 apartments in Vilnius. This was the fund’s last investment in the rental apartments segment. The completion of the Vilnius rental house is planned for the coming summer, after which the building will start generating cash flow for the fund.
In the Uus-Järveküla residential development May was the strongest sales month in project’s history. 10 new sales contracts were concluded with clients. A total of 25 new sales contracts have been concluded in the first five months of this year, which is estimated to be 10%-15% of the sales transactions of new developments in Harju County in the corresponding period. At the end of May, 12 new terraced houses were added for sale in the Uus-Järveküla residential area. In total, the number of already sold or for sale units makes up 70% of the final volume of the residential area.
