EfTEN Real Estate Fund III AS postpones the planned new share emission
In connection with the low supply of suitable real estate properties with an appropriate opportunistic and value-added investment strategy for EfTEN Real Estate Fund III in the Baltic States, the Fund management board has decided not to convene a general meeting of shareholders in October this year and postpone its planned new share emission until the spring of 2019. Last week, the Fund announced the start of the construction works of the Hortes gardening center at Tähesaju commercial district in Tallinn. For the construction of a Hortes new gardening center, the Fund has the necessary equity and no additional capital is needed. If, however, at the end of 2018 or early 2019, suitable investment objects should be available, the Fund has an option to agree a temporary bridge financing which will be refinanced with equity in the later new share issue.
The Fund intends to proceed with an additional share issue in the 2nd quarter of 2019.
Viljar Arakas
Member of the Management Board
Phone: 655 9515
E-mail: viljar.arakas@eften.ee
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