Baltic Horizon Fund reports higher net rental income in Q1 2025, focusing on sustainable growth

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

The Management Board of Northern Horizon Capital AS has approved the Baltic Horizon Fund’s unaudited financial results for the first three months of 2025. The focus for the fund has been on reshaping its strategy to drive sustainable value and consistent growth for investors, emphasizing the ‘Modern City Life’ strategy to develop centrally located, multi-functional properties.

Key performance indicators (KPIs) have been implemented by the Fund management team to track progress effectively. The Fund will focus on achieving an occupancy rate of at least 90% by the end of the year, targeting a net operating income (NOI) of EUR 130 per square meter by 2027, maintaining a loan-to-value ratio below 50%, and optimizing the property portfolio by considering the disposal of non-strategic assets.

Leasing performance has been strong, with the Fund signing new leases for approximately 2,000 sq. m. and extending leases for around 5,500 sq. m. As of the end of March 2025, the portfolio occupancy rate was 82.3%, showing significant progress towards the 90% target.

The Baltic Horizon Fund is focusing on flexible and sustainable solutions in 2025 to meet tenant demands and market conditions. The fund aims to increase portfolio occupancy, decrease the loan-to-value ratio, and continue social and environmental commitments with 100% BREEAM certified assets.

In Q1 2025, the Fund earned consolidated net rental income of EUR 3.0 million, recording a net loss of EUR 968 thousand. The portfolio net rental income was 6.3% higher than the same period in 2024, mainly due to higher occupancy in certain buildings.

The Fund’s investment properties consist of 11 cash flow generating properties in the Baltic capitals, with a fair value of EUR 226.2 million as of March 2025. Additionally, the Fund’s GAV was EUR 243.2 million, and its NAV was EUR 97.2 million as of the same date.

During Q1 2025, the average actual occupancy of the portfolio was 82.7%, with an occupancy rate of 82.3% as of March 31st. The Fund is committed to enhancing operational efficiency and maximizing returns through strategic initiatives.

For more information, contact Tarmo Karotam, Baltic Horizon Fund manager, at [email protected] or visit www.baltichorizon.com. The Fund is managed by Northern Horizon Capital AS and focuses on delivering value to investors through real estate investments.



Read more at GlobeNewswire:: Baltic Horizon Fund consolidated unaudited results for Q1