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Published: 2017-12-08 10:36:08 CET
EfTEN Real Estate Fund
Company Announcement

Share Net Asset Value in November

The financial results of EfTEN Real Estate Fund III met management expectations on November 2017. Fund’s sales income was 617 thousand euros (October: 609 thousand euros) and EBITDA 456 thousand euros (October: 457 thousand euros). As the most positive change in November, there is important to note that 614m2 has rented out to clothing store Lindex from 30th of November 2017 in Saules Miestas shopping center. The vacancy of investment properties portfolio fell to 0,5% after the change, calculated from total net leasable area.

During the first 11 months 2017, EfTEN Real Estate Fund III is gained EBITDA for 5,13 million euros, of which interest expense and loan annuity payments are covered in the amount of 2,5 million euros. Considering the dividend policy of EfTEN Real Estate Fund III, the gross dividends from that amount would be 2,1 million euros (LY 11 months: 1,5 million euros), which is equal to 64 cents per share, based on the total shares of the Fund.

The consolidated asset value of EfTEN Real Estate Fund III was 95 819 thousand euros and equity was 46 024 thousand euros as of 30.11.2017.

The Fund’s Net Asset Value per share (NAV) as of 30.11.2017 is 14,28 euros. NAV is increased, compared to the end of October, by 0,9%.

 

         Marilin Hein
         CFO
         Phone: 655 9515
         E-mail: marilin.hein@eften.ee