Net asset value of the EfTEN United Property Fund as of 31.07.2026
EfTEN United Property Fund earned a net loss of 143 thousand euros in July, and a net profit of 566 thousand euros over the first seven months of 2026 (compared to 1 846 thousand euros net profit in the same period last year). The net asset value (NAV) of the fund unit was 11,56 euros at the end of July, decreasing by 0,6% over the month. The loss was primarily related to the corporate income tax paid on the Invego Uus-Järveküla OÜ dividend distribution.
In July, one terraced-house was handed over to a client (a real right agreement was concluded) in Invego Uus-Järveküla OÜ, a development company in which the Fund holds an 80% stake, and the development company earned 46 thousand euros in pre-tax profit. Three terraced-houses and two land plots remain unsold in the development project.
At the end of July and the beginning of August, the fund made two investments. At the end of July, the fund concluded an agreement to expand the Uus-Järveküla development project by 11 semi-detached houses (22 semi-detached-house units). The fund invested 700,000 euros through a shareholder loan into Invego Uus-Järveküla 2 OÜ, the company developing the residential district expansion. The interest rate on the shareholder loan is 10% per annum and the fund holds an 80% stake in the development company. In total, the fund will finance the residential district development in stages with 1.5 million euros. At the beginning of August, EfTEN United Property Fund invested 2.478 million euros to acquire a stake in SIA EfTEN Domina, which owns the Domina shopping centre located in Riga. The fund acquired a 5.9% stake in the company. After the investments, the fund's portfolio is fully invested in real estate assets.
To partially and temporarily finance these investments, Invego Uus-Järveküla OÜ distributed to the fund net dividends of 1 million euros and paid income tax on the distribution. Going forward, these investments are planned to be covered with proceeds received from the sale of the assets of EfTEN Kinnisvarafond II AS at the beginning of 2027.
A more detailed overview of EfTEN United Property Fund's portfolio can be found on the fund's website: https://eftenunitedpropertyfund.ee/en/fund-results-2/
Kristjan Tamla
Managing Director
Phone: 655 9515
E-mail: kristjan.tamla@eften.ee
Attachment
