EfTEN Real Estate Fund AS · OMXTSE:EFT1T
EfTEN Real Estate Fund AS — EfTEN United Property Fund — EfTEN United Property Fund Webinar (February 2023)
11 slides from EfTEN Real Estate Fund AS's conference presentation, Feb 15, 2023
Slide 1: EfTEN United Property Fund Webinar
EfTEN United Property Fund Webinar 15.02.2023
Slide 2: Disclaimer
Disclaimer This material has been prepared by EfTEN Capital AS, the largest real estate fund manager in the Baltics, to introduce the EfTEN United Property Fund. In our opinion, the material is based on information obtained from reliable sources. However, it is not possible to guarantee that the inf
Slide 3: Financing conditions – debt financing conditions on European capital markets changed drastically
Financing conditions – debt financing conditions on European capital markets changed drastically +2,8%p +2,0%p +2,6%p +2,4%p +2,3%p +1,7%p 5,33 +1,9%p Property sector market-based financing has taken a hit "Risk-free” is now 4% in the Baltics
Slide 4: Real estate sentiment at lowest in Europe
Real estate sentiment at lowest in Europe • Real estate equity is trading at steep discount • Equity investors are expecting dividend cuts & forced sale of assets
Slide 5: 2022 main events
EfTEN United Property Fund 2022 main events Raised capital – 9,9mio EUR Distributions - 795k EUR • 2,9mio EUR – Jan-Mar • 212k EUR (0,9% of market cap) – July • 7 mio EUR – May (2,65x oversubscribed) • 584k EUR (2,5% of market cap) – Jan 2023 Listing of Fund units at Nasdaq Baltic Fund list Investme
Slide 6: Index-like portfolio: underlying properties
EfTEN United Property Fund Index-like portfolio: 30 underlying properties EfTEN EfTEN Residential Rental apartments+ Fund Logistics +Hotels + State Latvia Kinnisvarafond II 4% 3% EfTEN Real 8% 5% 9% Estate Fund 5 Uninvested 19% Retail Estonia 31% 13% 40% Office, Vilnius Menulio 7 Office 14% 58% Resi
Slide 7: Main underlying properties
EfTEN United Property Fund Main underlying properties Former Danske office, Vilnius Menulio 7 office, Vilnius Uus-Järveküla development, Rae • A class office at Vilnius main business • B class office at Vilnius • Development of 149 terraced houses district • Built 2008 & 16 detached houses (165 unit
Slide 8: Main underlying properties
EfTEN United Property Fund Main underlying properties % of NAV Former Danske office building, Vilnius 19,3% Menulio 7 office building, Vilnius 14,4% Uus Järveküla development, Rae 11,3% Mustika shopping centre, Tallinn 3,3% Jurkalne Technology Park, Riga 2,2% Kadaka rental apartments, Tallinn 2,0% P
Slide 9: Outlook 2023
EfTEN United Property Fund Outlook 2023 • Next expected distributions • Ca 2% of current market cap, from EKF, EKF II, Menulio 7 (summer 2023) • Planned investments • 30% (8,2mio EUR) of the fund equity uninvested • Uninvested equity largely committed: • Ca 90% to EfTEN Real Estate Fund 5 • Ca 10% t
Slide 10: Core Team
EfTEN United Property Fund Core Team Mr. Viljar Arakas Mr. Tõnu Uustalu Mr. Kristjan Tamla Mr. Viktors Savins Mr. Laurynas Žilys EfTEN Capital, CEO EfTEN Capital, EfTEN Capital, Head of Retail EfTEN Latvia Country Manager EfTEN Lithuania Country Manager Head of Investments EfTEN Capital co-founder a
Slide 11: Thank you!
Thank you! CS EFTEN UNITED PROPERTY FUND
EfTEN United Property Fund — EfTEN United Property Fund Webinar (February 2023) on 6ix