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 19.0549 euros at 31.05.2022, up 0.8% in May. 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 20.24 euros at 31.05.2022. EPRA NAV also increased by 0.8% in May.

In May, the fund achieved a total of 1,112 thousand euros in consolidated rental income, ie 10 thousand euros more than a month earlier. The increase is mainly due to the first full month’s rent of the Valkla nursing home property. The Fund’s consolidated EBITDA was €981 thousand in May (April: €963 thousand).

In the five months of 2022, the fund achieved a total of 5,498 thousand euros in rental income and 4,851 thousand euros in EBITDA, including EBITDA calculated on a comparable basis for investment properties which also appeared on the fund’s balance sheet during the five months of the previous year, was 4,547 thousand euros (12% more than last year). EBITDA increased for most of the investment properties, ie the result of the Saules Miestas shopping center is 31% higher.

The fund’s EPRA earnings per share for the first five months of this year are 79.03 cents (3.7% more than last year). Fund charges represent 12.8% of rental income (last year: 12.3%)

The consolidated equity of EfTEN Real Estate Fund III AS amounted to 96.657 million euros as at 31.05.2022 (31.12.2021: 96.914 million euros).

Marilin Hein
CFO
Telephone: 6559 515
Email: [email protected]

  • EREF_III_monthly_reports_05_2022

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