E
fTEN Real Estate Fund AS achieved strong financial results in April, with consolidated rental income reaching 2.611 million euros, a 55 thousand euro increase from March. This growth was driven by the first rental payments from the newly completed ICONFIT logistics centre and the Hiiu elderly care home acquired in March. The overall vacancy rate of the fund's real estate portfolio decreased to 4.1% in April, mainly due to improved occupancy in several properties.

    The Fund's EBITDA increased to 2.183 million euros in April, a 193 thousand euro month-over-month increase due to higher rental income and lower expenses. Adjusted cash flow also rose to 1.01 million euros, a 170 thousand euro increase from March. In April, the Fund paid its largest dividend ever, totaling 12.7 million euros or 1.11 euros per share.

    To finance this payment and optimize capital structure, the Fund refinanced bank loans on five properties for 6.3 million euros. This led to a lower-than-usual net profit of 106 thousand euros due to income tax expense related to dividend payments. The weighted average interest rate decreased to 4.21% in April, down from 4.37% in March.

    Over the first four months of 2025, EfTEN Real Estate Fund earned consolidated rental income of 10.3 million euros and consolidated EBITDA of 8.4 million euros. The NAV per share was 19.64 euros as of the end of April, while EPRA NRV was 20.50 euros. However, due to the April dividend distribution, the NAV decreased by 5.3%.