From GlobeNewswire: 2025-05-08 10:45:00

Northern Horizon Capital AS’s board has approved the unaudited consolidated interim results for the Baltic Horizon Fund for the first quarter of 2025. The fund’s strategic focus is on developing centrally located multifunctional buildings that cater to the changing needs of tenants, visitors, and neighbors while emphasizing quality, flexibility, sustainability, and exceptional service. Key performance indicators have been established to measure the fund’s effectiveness in reaching its goals, including maintaining a portfolio occupancy rate of at least 90% by the end of 2025. The fund aims to achieve a net operating income (NOI) of 130 euros per square meter by 2027 and maintain a loan-to-value ratio below 50%.

In the first quarter of 2025, the fund signed new lease agreements totaling approximately 2000 square meters and extended existing lease agreements by over 5500 square meters. The portfolio occupancy rate based on the handover date was 82.3%, showing significant progress towards the target of 90%. The fund aims to evenly distribute lease expirations to avoid more than 20% of leases ending in any given year.

The fund’s focus in 2025 is on flexible and sustainable solutions to meet tenants’ needs and market conditions. Efforts are being made to reduce operating costs to offset declining revenue. By investing in technology, negotiating fees, and implementing cost-saving strategies, the fund aims to improve operational efficiency and maximize long-term returns on investments. The fund is committed to strengthening its financial position by improving debt service coverage and reducing the loan-to-value ratio.

Baltic Horizon Fund’s entire portfolio is now BREEAM certified, underscoring its commitment to social and environmental responsibilities. The fund’s financial performance in the first quarter of 2025 improved, with a 6.3% increase in net rental income compared to the same period in 2024. The fund’s net asset value decreased slightly due to losses from the sale of the Meraki office building but remains strong overall. Intrest-bearing loans and bonds totaled 138.9 million euros as of March 31, 2025.

The fund’s real estate portfolio had an average actual occupancy rate of 82.7% in the first quarter of 2025, marking an improvement from the previous quarter. The fair value of the fund’s property investments was 226.2 million euros as of March 31, 2025, with a total net leasable area of 110.7 thousand square meters. Overall, the fund remains focused on optimizing its property assets and enhancing value for investors in a dynamic market environment.



Read more at GlobeNewswire:: Baltic Horizon Fondi 2025. aasta I kvartali konsolideeritud