Fund Manager’s Commentary Despite a challenging economic environment, EfTEN Real Estate Fund AS succeeded in 2025 in increasing both total consolidated rental income (+3%) and portfolio EBITDA (+1.3%). During 2025, the Fund’s subsidiaries made new investments amounting to €6.6 million in the elderly care segment and €5.3 million in the logistics segment. In the remainder of the real estate portfolio, the Group invested a total of €2.3 million. The share of EfTEN Real Estate Fund AS is primarily a dividend s ...