K
ey highlights from EfTEN Real Estate Fund AS's January performance include a consolidated rental income of €2,556 thousand, down from €2,861 thousand in December 2024. This decrease is attributed to a rent discount agreement in Lithuania and the end of a lease agreement for an office building.
Vacant space at Pärnu mnt 102 will be converted into smaller units to meet market demand, with design work completed and construction set to begin soon. In Menulio 11, negotiations are underway with a potential tenant interested in 9% of the leasable area, while several prospective buyers have approached the fund following the disclosure of bankruptcy proceedings at Laagri Hortes.
The fund's consolidated EBITDA stood at €2,043 thousand in January, down from €2,448 thousand in December. The weighted average interest rate on bank loans decreased to 4.78% by the end of January, a drop of 0.11 percentage points compared to December and a total decrease of 1.13 percentage points since the peak in December 2023.
The fund's consolidated cash balance increased by €1,119 thousand in January, reaching €21,626 thousand as of January 31, 2025. The net asset value per share was €20.4905, with EPRA NRV at €21.3432, representing a 0.6% increase from the previous month.
