EfTEN Real Estate Fund Reports 4.7% Rise in Five-Month Rental Income, Vacancy Drops to 2.3%

Event summary

  • Consolidated rental income for May 2026 was €2,668 thousand, down €19 thousand from April due to the sale of the Menulio 11 office building in Vilnius.
  • EBITDA increased by €46 thousand in May, driven by lower administrative expenses and higher rental income in logistics and care home segments.
  • Vacancy rate decreased to 2.3% in May, the lowest since mid-2023, with significant improvements in the Jurkalne logistics park and Pärnu mnt 105 office building.
  • Net asset value (NAV) per share rose by 0.7% to €19.82 as of 31 May 2026.
  • Five-month rental income and EBITDA increased by 4.7% and 7.1% year-over-year, respectively, due to new investments and improved retail segment performance.

The big picture

EfTEN Real Estate Fund's five-month financial results highlight a strategic focus on reducing vacancy rates and expanding in high-growth segments like logistics and care homes. The 4.7% year-over-year increase in rental income reflects successful portfolio adjustments and operational improvements. The Fund's ability to maintain these trends will be critical in a competitive real estate market where asset performance and cash flow stability are key differentiators.

What we're watching

Portfolio Optimization
How the sale of non-core assets like Menulio 11 will impact future rental income stability and portfolio diversification.
Operational Efficiency
Whether the Fund can sustain the improved vacancy rates and EBITDA growth across all segments.
Market Dynamics
The pace at which new investments in logistics and care home segments will contribute to long-term cash flow growth.

Related topics

EBITDA