Eastnine: Aiming to double in size - Nordea
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.