The net asset value (NAV) of EfTEN United Property Fund unit was 10.65 euros at the end of July, increasing by 0.2% over the month. If the fund's investment in the EfTEN Real Estate Fund AS shares is reflected on the basis of its net value, the NAV of EfTEN United Property Fund would be 10.75 euros, increasing by 0,4%.
In the fund’s development investment of Uus-Järveküla residential area, a construction contract for the third stage development was signed, which includes the construction of 17 terraced houses. The construction works of the third stage are planned to be completed in the summer of 2025, and the construction price will be approximately 1,500 euros (excl VAT) per sellable square meter. At the completion of the third stage, more than 80% of the final development volume of the entire residential area of Uus-Järveküla has been built.
At the end of August, EfTEN United Property Fund made the so far largest investment – investing almost 4.8 million euros in the EfTEN Real Estate Fund 5. The latter acquired the newly completed UNA shopping park (property with retail centre building) of more than 16,000 square meters in Vilnius at Dangeručio 1. Following the transaction, approximately 90% of EfTEN United Property Fund's assets have been invested.
Since the EfTEN United Property Fund is as of the end of August close to fully invested, the fund publishes monthly financial factsheet as of this announcement.
A more detailed overview of EfTEN United Property Fund's portfolio can be found on the fund's website: https://eftenunitedpropertyfund.ee/en/fund-results-2/
Kristjan Tamla
Managing Director
Phone 655 9515
E-mail: kristjan.tamla@eften.ee
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