Baltic Horizon Fund publishes its NAV for June 2024
16 July 2024 - 2:35AM
UK Regulatory
Baltic Horizon Fund publishes its NAV for June 2024
The net asset value (NAV) per unit of the Baltic
Horizon Fund (the Fund) amounted to EUR 0.8058 at the end of June
2024 (0.9070 as of 31 May 2024). The month-end total net asset
value of the Fund was EUR 96.4 million (EUR 108.5 million as of 31
May 2024). The NAV decrease was mainly affected by the revaluation
of investment properties. The EPRA NRV as of 30 June 2024 stood at
EUR 0.8524 per unit.
At the end of June 2024, portfolio valuations
were conducted by an independent real estate appraiser. As at 30
June 2024, the fair value of the Baltic Horizon Fund portfolio
decreased to EUR 239.9 million (31 December 2023: 250.4 million).
The change in portfolio value was mainly driven by the changes in
exit yields and upward adjustments of the weighted average cost of
capital (WACC). The summary of property valuations will be
published on the Fund`s webpage. More information will be provided
in the quarterly report.
The consolidated net rental income of the Fund
increased to EUR 1.1 million in June 2024 (EUR 1.0 million in May
2024). Currently the Fund is in active negotiations with potential
tenants for the area of over 9,700 square meters.
At the end of June 2024, the Fund’s consolidated
cash and cash equivalents amounted to EUR 5.4 million (31 May 2024:
EUR 5.9 million). Cash and cash equivalents decreased due to tenant
fit-out costs. As of 30 June 2024, the total consolidated assets of
the Fund were EUR 250.2 million (31 May 2024: EUR 262.6
million).
For additional information, please contact:
Tarmo Karotam
Baltic Horizon Fund manager
E-mail tarmo.karotam@nh-cap.com
www.baltichorizon.com
Baltic Horizon Fund is a registered contractual public
closed-end real estate fund managed by Alternative Investment Fund
Manager license holder Northern Horizon Capital AS. Both the
Fund and the Management Company are supervised by the Estonian
Financial Supervision Authority.
Distribution: Nasdaq,
GlobeNewswire, www.baltichorizon.com
To receive Nasdaq announcements and news from
Baltic Horizon Fund about its projects, plans and more, register on
www.baltichorizon.com. You can also follow Baltic Horizon Fund
on www.baltichorizon.com and on LinkedIn, Facebook, X and
YouTube.