Net asset value of the EfTEN United Property Fund as of 31.12.2025
For the first time in history, EfTEN United Property Fund 's financial results in 2025 were based on a fully invested portfolio. The fund achieved historically highest profit, which increased by 2.2 times compared to 2024: EfTEN United Property Fund earned 3.57 million euros in net profit in 2025 (1.62 million euros in 2024), which constitutes 14% of the fund 's invested capital and approximately 17% of the fund 's market capitalization. The fund 's income increased from 1.82 million euros to 3.78 million euros in a year, and the fund’s distributions to investors exceeded 9% of the market capitalization in 2025.
The fund 's results were supported primarily by the improved profitability of the Uus-Järveküla residential development and the investment to the Kristiine shopping centre, where the fund is invested through the EfTEN Real Estate Fund 5. In the Uus-Järveküla residential development, all the completed semi-detached and terraced houses were sold (real rights contracts were concluded) by the end of 2025. The completion of the last stage of the development (32 terraced houses) is planned for the spring of this year. Of those, clients had booked 20 terraced housed as of the end of 2025. The number of visitors to the Kristiine shopping centre increased by 0.4% in 2025 (to 6 million) and the turnover of tenants increased by 5.4% over the year. The centre 's net rental income exceeded the projected budget by 4%. At the end of December, the centre 's occupancy rate was 100%.
In December, the fund 's financial results were affected by the regular valuation of the real estate portfolio. As a result, for the first time in history the fund 's monthly profit exceeded the million-euro mark, reaching 1.12 million euros. The largest contribution to the profit came from Invego Uus-Järveküla OÜ, where the valuation result reflects the expected profit from the terraced houses to be completed in the final stage of the development this year. The value of other investments did not change significantly as a result of the regular valuation. The net asset value (NAV) of the EfTEN United Property Fund unit was 11.76 euros at the end of December, increasing by 4.0% per month.
EfTEN United Property Fund will publish its unaudited 2025 results on February 2 and will then inform investors about the planned distributions in 2026 and a webinar for investors.
A more detailed overview of EfTEN United Property Fund 's portfolio can be found on the fund 's website: https://eftenunitedpropertyfund.ee/en/fund-results-2/
Kristjan Tamla
Managing Director
Phone: 655 9515
E-mail: kristjan.tamla@eften.ee
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