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fTEN Real Estate Fund AS reported EUR 2,650 thousand in consolidated rental income for June 2025, a EUR 7 thousand increase from May. This growth was driven by higher turnover-based rent in shopping centers and lower office vacancy rates. Property management expenses decreased by EUR 77 thousand compared to the previous month.

    The Fund's consolidated EBITDA for June reached EUR 2,310 thousand, an increase of EUR 81 thousand from May. For the first six months of 2025, rental income totaled EUR 15.58 million, a 1.6% rise over the same period last year. However, consolidated EBITDA decreased by 1.3% year-over-year due to factors like the sale of the Tähesaju Hortes gardening centre and increased office vacancies.

    The total office vacancy rate dropped from 17.0% to 16.2% in June, with an additional 1.1 thousand m² of office space expected to be transferred to tenants in July and August. The overall portfolio vacancy rate stood at 3.7%. A semi-annual property revaluation resulted in a EUR 546 thousand gain and increased the fair value of the property portfolio by 0.15%.

    Forecasts for office cash flows were slightly more conservative, while those for other segments became more optimistic. Prior to the Midsummer holidays, EfTEN SPV12 OÜ entered into an interest rate swap agreement with Swedbank, fixing the 1-month EURIBOR at 1.995% for a three-year term. The fair value of the derivative was negative EUR 41 thousand as of June's end, accounting for 7.4% of the Fund's consolidated loan portfolio.