The main keyword for 2023 was the fastest interest rate increase in the 25-year history of the Eurozone. The consolidated interest expense of EfTEN Real Estate Fund AS increased almost twice compared to a year ago in relation to EBITDA,…
The net asset value (NAV) of EfTEN United Property Fund was 10.57 euros at the end of December, decreasing by 0.8% over the month. The decrease in NAV was related to the regular valuation of the fund’s investments by Colliers…
No policy changes from the ECB, deposit facility rate kept at 4% March projections are key in timing the upcoming rate cuts The ECB policy statement provided no news – all key interest rates were kept unchanged, asset purchase portfolio…
Commentary by the Fund Manager, Viljar Arakas The defining feature of 2023 was the fastest interest rate increase in the Eurozone’s 25-year history. Compared to the previous year, EfTEN Real Estate Fund AS’s consolidated interest expense nearly doubled in relation…
AS Pro Kapital Grupp (hereinafter referred to as the Company) is requesting the approval from the bondholders of the Company’s outstanding bonds listed on Nasdaq Stockholm in order to extend the maturity of the bonds, make certain others amendments to…
Affordability continued to decline, but the bottom has been reached. Apartments still unaffordable in Tallinn and Vilnius. Interest rate burden remains heavy, but there are first signs of rates inching down. Housing affordability continued to decline in the third quarter…
In November, EfTEN Real Estate Fund AS reported a rental income of €2,521 thousand, marking a decrease of €17 thousand from October. This decline in rental income was primarily due to lower turnover rents at the Saules Miestas and RAF…
The net asset value (NAV) of EfTEN United Property Fund was 10.62 euros at the end of October, increasing by 0.1% over the month. If the fund’s investment in the of EfTEN Real Estate Fund AS shares is valued on…
AS Pro Kapital Grupp (hereinafter referred to as the Company) has issued 285 secured bonds with ISIN SE0012801172 in the total value of 28 500 000 euros. The bonds bear 8% interest and their redemption date is 20 February 2024.…
Inflation is heading down and getting closer to levels in line with inflation targets. Central banks’ policy rates are at peak levels, and the higher-for-longer mantra will soon be replaced with monetary easing. Nevertheless, monetary policy will remain restrictive in…
EfTEN Real Estate Fund AS earned 2,538 thousand euros in rental income in October, which is 6 thousand euros less than in September. Mainly due to the usual fall campaigns in shopping centers and property maintenance expenses in October, the…
Management Board of Northern Horizon Capital AS has approved the unaudited consolidated interim financial statements of Baltic Horizon Fund (the Fund) for the first nine months of 2023. Leasing activity Throughout Q1-Q3 2023, the Fund secured lease extensions with anchor…
MANAGEMENT REPORT CEO summary Q3 2023 marks as a continuation of the newly started developments of AS Pro Kapital Grupp. Real estate development In Tallinn, the decision taken earlier in the year on starting the construction and sales of Kalaranna…
Baltic Horizon Fund publishes interest rate applicable to the fund’s 5-year bonds (ISIN: EE3300003235) for the next 3-months interest period which starts on 8 November 2023. The annual interest rate applicable to the bonds for the interest period as referred…
EfTEN United Property Fund earned a net loss of 16 thousand euros in the 3rd quarter of 2023, and 87 thousand euros in 9 months of 2023. The loss was due to the market value change in listed EfTEN Real Estate…