Net asset value of EfTEN Real Estate Fund III AS at

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The net asset value (NAV) of EfTEN Real Estate Fund III AS was 19.5547 euros as at 31.03.2022, up 0.8% in March. The net asset value of the EPRA unit (EPRA NRV – net book value excluding deferred tax liabilities and fair value of interest rate derivatives) amounts to 20.72 euros at 31.03.2022. EPRA NAV also rose 0.8% in March.

In March, the fund achieved a total of 1,095 thousand euros in consolidated rental income, 5 thousand euros less than in February, mainly due to temporary discounts on rents. The Fund’s consolidated EBITDA for the month of March amounted to 971 thousand euros (15 thousand euros less than in February).

During the first quarter of 2022, the fund generated a total of €3,283 thousand in rental income and €2,907 thousand in EBITDA, of which €2,731 thousand in EBITDA calculated on a comparable basis for investment properties that were on the fund’s balance sheet during the entire 1st quarter of 2021 (14% more than last year). EBITDA has increased for most real estate investments, ie the result of the Saules Miestas shopping center this year is 212 thousand euros, or 39% more.

The fund’s EPRA earnings per share for the first quarter of this year is 47.13 cents (last year’s first quarter: 45.13 cents). Fund charges represent 12.6% of rental income (last year: 12.0%)

The consolidated equity of EfTEN Real Estate Fund III AS amounted to EUR 99.192 million as at 31.03.2022 (31.12.2021: EUR 96.914 million).

Marilin Hein
CFO
Telephone: 655 9515
Email: [email protected]

  • EREF_III_reports_monthly_03_2022


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