Core Insights - The Baltic Horizon Fund has reported its unaudited financial results for the first nine months of 2025, highlighting a new management board and ownership structure effective from October 30, 2025 [1][2]. Financial Performance - The Fund recorded a net loss of EUR 959 thousand for Q1-Q3 2025, a significant improvement compared to a net loss of EUR 13,399 thousand in the same period of 2024, primarily due to reduced losses on disposal of investment properties [9]. - Consolidated net rental income for Q1-Q3 2025 was EUR 8.7 million, slightly down from EUR 8.9 million in Q1-Q3 2024, reflecting a more conservative approach to debtor risk management [10]. - The Fund's fair value of investment properties decreased to EUR 228.3 million as of September 30, 2025, down from EUR 241.2 million at the end of 2024 [11]. Portfolio and Leasing Activity - The portfolio occupancy rate was reported at 85.6% based on handover date, with a weighted average unexpired lease term of 3.8 years as of September 30, 2025, an increase from 3.3 years at the end of 2024 [6][7]. - During the first nine months of 2025, approximately 12,500 sq. m. of new leases were signed, and 7,150 sq. m. of leases were extended, indicating active leasing efforts [5]. Capital and Funding Needs - The management estimates a requirement of approximately EUR 25 million in new equity to facilitate full repayment of bonds and fund asset enhancement projects [3]. - Until the bonds are fully repaid, the Fund will not be able to distribute cash to unitholders, making immediate distributions unlikely [4]. Asset Valuation and Financial Position - As of September 30, 2025, the Fund's Gross Asset Value (GAV) was EUR 237.7 million, down from EUR 256.0 million at the end of 2024, primarily due to the disposal of the Meraki office building [12]. - The Net Asset Value (NAV) as of September 30, 2025, was EUR 97.2 million, a slight decrease from EUR 98.1 million at the end of 2024 [13]. Interest-Bearing Loans and Cash Flow - Interest-bearing loans and bonds amounted to EUR 134.5 million as of September 30, 2025, down from EUR 149.0 million at the end of 2024 [15]. - Cash inflow from core operating activities was EUR 5.8 million for Q1-Q3 2025, compared to EUR 6.6 million in the same period of 2024 [16].

Group 1 - Eastham Capital has appointed Anthony Librot as its first chief financial officer, responsible for accounting, compliance, and risk management [8] - Librot brings over 30 years of accounting and financial experience, having previously served as the chief operating and financial officer at AAM 15 Management and worked at KPMG [3][4] - The new role aligns with the launch of Eastham's largest multifamily investment fund, Eastham Capital Fund VII, LP, as the firm seeks to attract institutional-grade investors [5] Group 2 - In 2025, Eastham Capital added nearly 2,000 units to its portfolio, which now totals 15,080 apartments, indicating significant growth and the need for experienced financial personnel [8] - The firm has been active in acquiring properties, including partnerships with Merion Realty Partners and Bender Cos. for various multifamily acquisitions across different states [6][7]