Titanium released updates regarding redemptions from its real estate funds.
- Titanium Asunto (Residential) paid out the outstanding redemptions in March. No announcement was made regarding the deferral of redemptions for this fund in the H1’26 window, so the redemption pressure here has been cleared. However, the importance of the residential fund to the company is minor.
- Regarding the Baltic fund, the company paid out the H2’25 window redemptions in the spring of 2026 (orders placed before June 2025), which cleared the redemption queue at that time. According to the recent announcement, however, only half of the redemptions from the latest redemption window (H1’26) will be paid, and the remainder will be deferred to the future. This means they are unable to pay the redemptions now using the proceeds from the property sale Sauli mentioned, which increases the risk that a significant volume of redemption requests has been submitted.
- The situation with the Care fund (Hoivarahasto), however, is the most complicated. The Care fund only paid half of the redemptions submitted in H1’24 in December 2025, and the remainder in Q1. In total, the redemptions submitted during the H1’24 window amounted to approximately 36 million euros. Since then, redemption orders remain unfulfilled, meaning there is still a backlog from H1’25, H2’25, and H1’26, the deferral of which was just announced most recently. We do not yet have information on the total size of these outstanding redemptions, but they are likely significant in any case.