May 2025 Boosts EfTEN Fund’s Value by €3 Million

The Net Asset Value of EfTEN Real Estate Fund AS stood strong at the end of May 2025, reflecting consistent growth and a stable real estate portfolio. As reported by the management company, the NAV per share increased by 2.1%, reaching €22.87 as of 31 May 2025, compared to €22.39 at the end of April 2025.

This rise confirms continued investor confidence and efficient portfolio management by the fund, supported by improved rental income and stable occupancy rates across its commercial assets.

Positive Growth Continues in Q2 2025

May marked a solid second month of Q2 2025 for EfTEN Real Estate Fund AS. The net asset value (NAV) of the fund increased by approximately €3 million during the month, from €144.1 million to €147.2 million. The net asset value of EfTEN Real Estate Fund AS has shown a reliable upward trend over the past 12 months, reflecting both operational performance and disciplined investments.

This gain was largely driven by:

• Increased rental income from commercial properties.
• High occupancy rates across key properties in the Baltics.
• Stable cost management and limited capital expenditure.

Portfolio Breakdown and Financial Position

The fund’s portfolio includes commercial properties across Estonia, Latvia, and Lithuania, with a strong focus on retail, logistics, and office sectors. As of 31 May 2025, the total value of investment properties stood at approximately €200 million.

Key facts about the fund’s financial structure:

• Total assets: €211.5 million
• Total liabilities: €64.3 million
• Equity (NAV): €147.2 million
• Loan-to-value ratio: 32.1%

The Net Asset Value of EfTEN Real Estate Fund AS reflects its low-risk investment model. With conservative gearing and long-term lease agreements, the fund has managed to maintain robust returns even in a fluctuating macroeconomic environment.

Monthly Income and Performance Metrics

In May 2025, the fund generated €1.5 million in rental income, slightly above the monthly average in Q1. Operational expenses remained consistent, contributing to a net profit of approximately €950,000 for the month.

Key performance indicators:

• Rental yield: 7.5%
• Occupancy rate: 97.4%
• Dividend yield (12-month trailing): 6.1%

These figures indicate that the net asset value of EfTEN Real Estate Fund AS benefits from both recurring income and value appreciation. Investors have consistently earned dividends, while the capital value of their holdings has steadily risen.

Market Context: Baltics Real Estate Trends

The commercial real estate markets in the Baltics have remained resilient in 2025, especially in the logistics and retail segments. EfTEN’s focus on prime properties in high-demand locations has insulated the fund from potential rental risks or economic shocks.

Rising interest in Baltic real estate by foreign investors has further strengthened asset values. While inflationary pressures and financing costs have affected some markets, EfTEN has managed these through fixed-rate loans and cost controls.

Investor Outlook and Future Strategy

Management of the fund remains cautiously optimistic. According to the official monthly update, EfTEN Real Estate Fund AS plans to focus on:

• Increasing rental income through property upgrades.
• Expanding the portfolio selectively in Latvia and Lithuania.
• Maintaining a stable dividend payout policy.

For the remainder of 2025, the fund’s strategy includes exploring logistics and mixed-use property acquisitions in growing urban regions, ensuring that net asset value of EfTEN Real Estate Fund AS continues to rise.

Dividend Payment Date and Investor Returns

EfTEN Real Estate Fund AS recently confirmed its semi-annual dividend distribution. Shareholders can expect a dividend of €0.67 per share, payable in July 2025, reflecting the fund’s commitment to regular payouts.

The net asset value of EfTEN Real Estate Fund AS not only serves as an indicator of asset performance but also drives returns for long-term investors. With over 5,000 retail investors and several institutional stakeholders, the fund has positioned itself as one of the most reliable listed property funds in the Baltics.

Final Thoughts

The Net Asset Value of EfTEN Real Estate Fund AS as of 31 May 2025 presents a strong picture of financial health and sustainable performance. With a steady increase in NAV and efficient asset management, the fund continues to offer value to its investors in a regionally diversified portfolio.

Looking ahead, if the fund sustains its current trajectory, it is well-positioned to maintain consistent income, expand its asset base, and deliver stable NAV growth even amid external uncertainties.

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