INVL Baltic Real Estate plans to merge with the owner of the purchased premises by way of reorganisation

INVL Baltic Real Estate, a real estate investment company, plans by way of reorganisation to merge with its subsidiary RE 1 which owns part of the premises in the Old Town of the capital city at Vilniaus Str. 37.

On Monday the Board of INVL Asset Management, the management company of INVL Baltic Real Estate, approved the planned reorganisation. The extraordinary general meeting of the real estate investment company regarding INVL Baltic Real Estate’s participation in the reorganisation and the drafting of the terms and conditions of reorganisation will take place on 23 August.

“The planned reorganisation process is a technical action, during which INVL Baltic Real Estate would merge with RE 1 which was acquired in a transaction at the beginning of this summer, and which manages part of the premises at Vilniaus Str. 37 in the capital city. As we are planning to develop this real estate object where all the remaining premises are managed directly by INVL Baltic Real Estate, the aim is that the premises managed by RE 1 will be owned directly by us as well,” says Vytautas Bakšinskas, the real estate fund manager of INVL Asset Management, the company managing INVL Baltic Real Estate.

In June 2022, INVL Baltic Real Estate acquired 100 per cent of the shares in RE 1 which owns a non-residential space-café of 257 sq. m at Vilniaus Str. 37 in the capital city. After this transaction INVL Baltic Real Estate has become the sole manager of this exclusive building in Vilnius Old Town, and the total floor area of the managed premises at Vilniaus Str. 37, Vilnius, has increased to 1,990 sq. m.

It is planned that after the reconstruction of the building at Vilniaus Str. 37 the company will offer to the market approximately 2,200 sq. m of leasable area on the second and third floors of the high-end office building and commercial premises on the ground floor.

About INVL Baltic Real Estate

INVL Baltic Real Estate manages real estate in Vilnius and Riga: office buildings in the Old Town on Vilniaus Street, in Šiaurės Miestelis, as well as the 55-hectare logistics and industrial park Dommo Logistics and Industrial Park near the intersection of the A8 motorway and the A5 Riga bypass. The occupancy of the company’s facilities at the end of 2021 ranged from 98 to 100 per cent.

The area of assets currently managed by INVL Baltic Real Estate is 28,000 sq. m., with the value of 29.7 million euros.

Since the company’s inception as a collective investment undertaking (22 December 2016), INVL Baltic Real Estate has been one of the highest stable return real estate funds in the Baltics, available to retail investors. The fund operates as a closed-end investment company (CEIC). The leading investment management and life insurance group INVL has taken over the management of the company in the Baltics. As a CEIC, the company will operate until 2046 with the option to extend this term for another 20 years.