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fTEN Real Estate Fund AS reported a consolidated rental income of EUR 2,566 thousand in February, a EUR 9 thousand increase from January. This growth was mainly driven by the quarterly rise in rental income at Ermi care home, which will start generating full revenue from August this year. The ICONFIT production and warehouse, acquired last autumn, is expected to be completed in April 2025, resulting in an additional EUR 40 thousand in monthly rental income.

    The fund's vacancy rate remained stable at 3.9% in February, with office space vacancies unchanged at 14%. Efforts are underway to redesign vacant spaces into smaller units, and some new areas have already attracted prospective tenants. Consolidated EBITDA reached EUR 2,149 thousand in February, a EUR 106 thousand increase from January, primarily due to lower property maintenance costs.

    The weighted average interest rate on the fund's subsidiaries' loans decreased to 4.58% by the end of February, down 0.2 percentage points from January. Since December 2023, this rate has dropped by 1.33 percentage points. Despite a 0.8% increase in loan obligations due to new projects, consolidated interest expenses have fallen by 16% year-over-year.

    The fund generated adjusted cash flow of EUR 1,829 thousand in the first two months of the year, an EUR 147 thousand (8.8%) increase from the same period last year. The consolidated cash balance grew by EUR 762 thousand in January to EUR 22,388 thousand as of February 28, 2025. As of the same date, the net asset value per share was EUR 20.6189, and the EPRA NRV was EUR 21.476.