Performance of REDSIDE funds in April 2022

Monthly reporting of REDSIDE funds for the period 4/2022

The April appreciation of the NOVA Real Estate fund reached 0.43%, so the overall appreciation since the beginning of the year is 2.32%.

In Trenčín, very quick negotiations were completed and a lease agreement for approximately 4,000 m2 was signed with a manufacturer of cable harnesses, especially for the automotive industry. This tenant is moving its production from war-torn Ukraine. The area is currently 99% leased.

The development of the investment market in the first quarter of the year confirms the interest of investors, especially local investors (77% of investment capital comes from the CEE region), in commercial real estate. This investment appetite holds the so-called yieldy at the level of 4% for the best office buildings, 5.25% for Slovak industrial real estate and 5.25% for retail real estate. The market consensus assumes that the investment market will remain stable throughout the year and, given its solid foundations, does not expect any major changes in the current trend.

NOVA Green Energy - Sub-Fund 1 appreciated by 0.48% in April. In the first quarter of 2022, it gained 1.86%.

The fund's restructuring project, the so-called "side-pocket", is progressing according to the expected time schedule. We have completed the administrative tasks associated with the creation of Sub-Fund 2 and are currently preparing everything necessary for the transfer of assets from Sub-Fund 1 to Sub-Fund 2.

In addition to activities related to the establishment of Sub-Fund 2, we continue to work intensively on the development of other energy projects, in particular the construction of rooftop and ground-based PV plants, based predominantly on the market principle, so-called PPA contracts. Project work is continuing on the previously announced project, which is the installation of photovoltaic panels on the roof of the Orlice shopping center. At the same time, we began an analysis of the possibilities of installing photovoltaic panels on other roofs of our sister fund. We actively participate in tenders for new capacities, resp. new energy projects in Central and Eastern Europe.

You can read more in the March reports of individual funds.

Reporting NOVA Real Estate

Reporting NOVA Green Energy