EfTEN Real Estate Fund III AS net share value as of 31.07.2022

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EfTEN III Real Estate Fund

The net asset value (NAV) of EfTEN Real Estate Fund III AS was 20.0053 euros as at 31.07.2022, up 0.7% in July. The net value of the EPRA unit (EPRA NRV – net book value without taking into account deferred tax liabilities and the fair value of interest rate derivatives) is 21.29 euros at 31.07.2022. The EPRA NAV rose 0.8% in July.

In July, the fund achieved a total of 1,122 thousand euros in consolidated rental income, ie 7 thousand euros more than the previous month. The increase is due to the rental of vacant space in the Evolution office building.

In the seven months of 2022, the fund achieved a total of 7,735 thousand euros in rental income (16% more than in the same period last year) and 6,799 thousand euros in EBITDA (also 16% more than last year), i.e. the EBITDA of investment properties calculated on a comparable basis, increased by 9% this year compared to the previous year.

The fund’s 7-month EPRA earnings per share this year are 11.10 euros (6.1% more than last year). Fund charges represent 13.01% of rental income (last year: 13.03%)

The consolidated equity of EfTEN Real Estate Fund III AS amounted to 101.478 million euros as of 31.07.2022 (31.12.2021: 96.914 million euros).

Marilin Hein
CFO
Phone +372 6559 515
Email: [email protected]

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