Marketing material commissioned by Eastnine.
https://research.nordea.com/api/reportfileapi?id=633865&channel=Finwire
Eastnine reported NOI of EUR 4.48m for Q3, 5% below our EUR 4.7m estimate, driven by 4% lower rental income related to a lower occupancy rate q/q and a slightly lower NOI margin. Like-for-like rental growth, however, remained strong at 5% y/y in Q3, driven by an improved occupancy rate y/y and higher average rent per m2. Melon Fashion Group continued its value recovery in the quarter and posted a positive revaluation of EUR 9.14m, taking NAV to EUR 12.9 per share, up 4.8% q/q and 3% above our estimate.
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