Key Takeaways
- • EfTEN Real Estate Fund AS's net asset value per share rose 0.9% in September 2026 to €20.41 as at 30 September 2026, according to the Fund's monthly results release.
- • September consolidated rental income reached €2,943 thousand (August: €2,918 thousand), driven mainly by the elderly care home segment and new leases at the Betooni 6 logistics centre, which brought portfolio vacancy to 2.2%, its lowest level in three years.
- • The Group's LTV fell to 41.0% from 42.2% after a €4 million fund-level loan to Swedbank was repaid, while total borrowings declined €4,582 thousand to €163,560 thousand.
- • Nine-month consolidated rental income rose 6.4% to €25.18 million and EBITDA rose 7.5% to €21.38 million; the Fund estimates a potential gross dividend of 75.20 cents per share, up 12.8% year on year.
Summary
EfTEN Real Estate Fund AS reported that its net asset value (NAV) per share increased by 0.9% in September 2026 to €20.41 as at 30 September 2026, according to the Fund's monthly results release. The increase followed a 0.7% rise in August, when NAV stood at €20.23.
Operating performance improved modestly over the month. Consolidated rental income was €2,943 thousand, compared with €2,918 thousand in August. The gain came mainly from the elderly care home segment, where third-quarter investments raised rental income from the Nõmme and Tartu Südamekodu care homes by a combined €23 thousand. New lease agreements at the Betooni 6 logistics centre also supported rental income and reduced portfolio vacancy to 2.2%, the lowest level in three years. Consolidated net operating income was €2,895 thousand, €84 thousand higher than in August, mainly due to lower property management and marketing costs. Consolidated EBITDA was €2,565 thousand (August: €2,490 thousand).
The Fund repaid a €4 million fund-level loan to Swedbank in September. The loan had financed the acquisition of Magistral Kaubanduskeskus OÜ and was repaid from proceeds of the directed share issue completed in August. Including scheduled subsidiary repayments, Group borrowings fell by €4,582 thousand to €163,560 thousand. The LTV ratio declined to 41.0% from 42.2% at the end of August. The weighted average interest rate on borrowings rose to 4.36% from 4.17%. Consolidated cash and cash equivalents decreased by €3,037 thousand to €19,360 thousand.
Over the first nine months of 2026, consolidated rental income was €25.18 million, up 6.4% year on year. Consolidated EBITDA was €21.38 million, up 7.5% (€1.5 million). Of that increase, €786 thousand came from the Magistral shopping centre, acquired in June, while like-for-like EBITDA rose €788 thousand, or 4.2%, led by Mustika shopping centre (+€204 thousand). Consolidated adjusted cash flow was €11.02 million, 15.6% higher than a year earlier. Based on nine-month results, the Fund has generated a potential gross dividend of 75.20 cents per share, compared with 66.66 cents a year earlier. Marilin Hein, CFO, is the Fund's listed contact for the release.
Operating performance improved modestly over the month. Consolidated rental income was €2,943 thousand, compared with €2,918 thousand in August. The gain came mainly from the elderly care home segment, where third-quarter investments raised rental income from the Nõmme and Tartu Südamekodu care homes by a combined €23 thousand. New lease agreements at the Betooni 6 logistics centre also supported rental income and reduced portfolio vacancy to 2.2%, the lowest level in three years. Consolidated net operating income was €2,895 thousand, €84 thousand higher than in August, mainly due to lower property management and marketing costs. Consolidated EBITDA was €2,565 thousand (August: €2,490 thousand).
The Fund repaid a €4 million fund-level loan to Swedbank in September. The loan had financed the acquisition of Magistral Kaubanduskeskus OÜ and was repaid from proceeds of the directed share issue completed in August. Including scheduled subsidiary repayments, Group borrowings fell by €4,582 thousand to €163,560 thousand. The LTV ratio declined to 41.0% from 42.2% at the end of August. The weighted average interest rate on borrowings rose to 4.36% from 4.17%. Consolidated cash and cash equivalents decreased by €3,037 thousand to €19,360 thousand.
Over the first nine months of 2026, consolidated rental income was €25.18 million, up 6.4% year on year. Consolidated EBITDA was €21.38 million, up 7.5% (€1.5 million). Of that increase, €786 thousand came from the Magistral shopping centre, acquired in June, while like-for-like EBITDA rose €788 thousand, or 4.2%, led by Mustika shopping centre (+€204 thousand). Consolidated adjusted cash flow was €11.02 million, 15.6% higher than a year earlier. Based on nine-month results, the Fund has generated a potential gross dividend of 75.20 cents per share, compared with 66.66 cents a year earlier. Marilin Hein, CFO, is the Fund's listed contact for the release.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.