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The net asset value (NAV) per unit of Baltic Horizon Fund (Fund) was €0.9126 at the end of February 2024, an increase of 0.1% month-on-month (0.9118 at January 31, 2024). The Fund’s total net assets at the end of the month increased slightly, reaching a value of €109.2 million (€109.1 million as of January 31, 2024). This slight increase was primarily driven by improved net operating income. EPRA NRV as of February 29, 2024 was EUR 0.9541 per unit.
The Fund earned consolidated net rental income of €1 million in February 2024 (€800,000 in January 2024). The increase in net rental income was primarily due to the annual index applied to most tenants in February. In February 2024, the Fund signed leases for a total of 1,037 square meters in Europe, 454 square meters in Meraki, and a four-year long-term lease for a total of 1,170 square meters in North Star.
At the end of February 2024, the Fund’s consolidated cash and cash equivalents amounted to €4.4 million (31 January 2024: €5.5 million). As of February 29, 2024, the Fund’s total consolidated assets had decreased to €260 million (January 31, 2024: €261.1 million). The fund made a coupon payment of €1.1 million to bondholders in February 2024.
For more information, please contact us below.
Tarmo carotum
Baltic Horizon Fund Manager
Email tarmo.karotam@nh-cap.com
www.baltichorizon.com
Baltic Horizon Fund is a registered public contractual closed-end real estate fund managed by Northern Horizon Capital AS, an alternative investment fund manager license holder. Both the Fund and the Management Company are supervised by the Estonian Financial Supervisory Authority.
Distribution: Nasdaq, Globe Newswire, www.baltichorizon.com
To receive Nasdaq announcements and news about Baltic Horizon Fund projects, plans and more, register at www.baltichorizon.com. You can also follow Baltic Horizon Fund on www.baltichorizon.com and on LinkedIn, Facebook, X and YouTube.
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