The net asset value (NAV) of EfTEN United Property Fund unit was 10.59 euros at the end of January, increasing by 0.2% over the month. If the fund’s investment in the EfTEN Real Estate Fund AS share is reflected on the basis of its net value, the NAV of EfTEN United Property Fund would be 10.70 euros.
In January, the fund’s development investment in Uus-Järveküla handed over 13 terraced houses to customers (real right contracts were concluded). In February, an application for a building permit was submitted for the second stage of construction works, where 16 semi-detached houses and 14 terraced houses will be built. Together with the 2nd stage infrastructure, the construction cost of the 2nd stage will be ca 1,800 euros per square meter.
In February, the fund invested 250 thousand euros in the EfTEN Residential Fund for the construction of 145 apartments building in Vilnius. The planned completion date of the rental house in Vilnius is summer 2024, and it will be the fund’s largest investment in a rental house. Kadaka rental house in Tallinn and Kaunas rental house, developed by the EfTEN Residential Fund, have a total of 210 apartments, of which only 3 were vacant at the end of January.
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/
