0RAS Invl Baltic Real Estate Ab

As informed by INVL Baltic Real Estate (hereinafter – the Company), on 21 December 2023 subsidiary Dommo Biznesa Parks signed EUR 2.55 million loan agreement with OP Corporate Bank plc Latvia branch. The loan repayment term is 1 May 2026. To secure the loan, a plot of land in Latvia and a warehouse located on the plot of land both owned by the Company‘s subsidiaries are pledged. The loan is also secured by a pledge of claims arising from existing and future warehouse lease agreements. Additionally, the Company and it‘s subsidiary Dommo Grupa signs guarantees to secure the loan mentioned above. The Company's guarantee will expire if the lease of the warehouse's main tenant is extended for the agreed period.

The loan will be used to cover short-term financial obligations and to develop the Company‘s real estate projects. The obtained bank financing will positively impact the Company's net profit due to the lower interest rate than the available short-term financing.

Additional information:

The real estate investment company INVL Baltic Real Estate’s Latvian subsidiary Dommo Biznesa Parks signed a EUR 2.55 million loan agreement with OP Corporate Bank plc Latvia branch. 

The funds from the loan will be allocated for covering short-term financial obligations and for the development of the company's real estate projects. 

“We continue realising our long-term plans of investing in and increasing the value of our property holdings. We are replacing the previous short-term financing with a bank loan on more favourable terms,” says Vytautas Bakšinskas, the real estate fund manager at INVL Asset Management, the leading alternative asset manager in the Baltics, which manages INVL Baltic Real Estate. 

INVL Baltic Real Estate owns 32,100 sq. m. of real estate, the value of which at the end of September this year was EUR 41.7 million. 

About INVL Baltic Real Estate

INVL Baltic Real Estate owns real estate in Vilnius and Riga: office buildings in the Old Town of the Lithuanian capital on Vilniaus Street and in Šiaurės Miestelis, the Pramogų bankas and the 55-ha Dommo Logistics and Industrial Park by the juncture of highway A8 and the A5 Riga bypass road. The company’s properties had occupancies of 85% to 100% at the end of September 2023. 

INVL Baltic Real Estate currently owns properties with a total area of 32,100 sq. m., the value of the real estate at the end of September this year was EUR 41.7 million.  

Since its launch as a collective investment undertaking (on 22 December 2016), INVL Baltic Real Estate has been one of the Baltic real estate funds open to retail investors with the highest stable returns. The fund operates as a closed-ended investment company which is managed by INVL Asset Management, the leading alternative asset manager in the Baltics. INVL Baltic Real Estate will operate as a closed-end investment company until 2046, with extension possible for a further 20 years. 

The person authorized to provide additional information: Real Estate Fund Manager of Management Company Vytautas Bakšinskas E-mail vytautas.baksinskas@invl.com

Invl Baltic Real Estate Ab (LSE:0RAS)
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Invl Baltic Real Estate Ab (LSE:0RAS)
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De Abr 2023 a Abr 2024