{"id":15615,"date":"2022-04-29T16:32:19","date_gmt":"2022-04-29T13:32:19","guid":{"rendered":"https:\/\/www.invaldainvl.com\/?p=15615"},"modified":"2022-04-29T16:32:22","modified_gmt":"2022-04-29T13:32:22","slug":"invl-baltic-real-estates-net-operating-income-in-the-first-quarter-was-eur-514-000","status":"publish","type":"post","link":"https:\/\/www.invaldainvl.com\/en\/group-company-press-releases\/invl-baltic-real-estates-net-operating-income-in-the-first-quarter-was-eur-514-000\/","title":{"rendered":"INVL Baltic Real Estate\u2019s net operating income in the first quarter was EUR 514\u00a0000"},"content":{"rendered":"\n
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The real estate investment company INVL Baltic Real Estate had a consolidated net profit of EUR 52\u00a0000 in the first quarter of this year, a decrease of 57% compared to the same period of 2021. The company\u2019s consolidated equity at the end of March was EUR 20.34 million. Equity per share was EUR 2.52 and grew 18% compared to the end of the first quarter last year (also taking into account dividends that were paid).<\/p>\n

INVL Baltic Real Estate\u2019s net operating income in this year\u2019s first quarter was EUR 514 000, or 62% more than in the same period last year. Consolidated revenue grew 31.4% from the first quarter last year to EUR\u00a0806\u00a0000. Of that amount, consolidated rent income from property holdings increased 11.2% to EUR\u00a0456 000.<\/p>\n

The largest property that INVL Baltic Real Estate owns is the office building at Palangos Street 4 in Vilnius, which contains the Talent Garden Vilnius coworking space that the company operates. That building\u2019s consolidated net operating income in the first quarter of the year was EUR 332 000, or 71% more than in the same period of 2021. The rent income of the \u017dygis Business Centre increased 52% over the same period to EUR 86\u00a0000.<\/p>\n

\u201cIn the first quarter of the year, INVL Baltic Real Estate\u2019s property holdings improved their results, mainly due to the very successful operations of Talent Garden Vilnius and new lease agreements signed last year at the \u017dygis Business Centre. The drop in the company\u2019s net profit is a result of the additional investment property acquired early in the year at Vilniaus Street 37, the market value of which will rise after design work on the property is completed,\u201d says Vytautas Bak\u0161inskas, the real estate fund manager at INVL Asset Management, which manages INVL Baltic Real Estate.<\/p>\n

He said the company remains focused on increasing the value of existing holdings and is looking for new investment projects. It is ready to invest in non-standard, creative solutions that can help earn a big return for investors and grow the property management business.<\/p>\n

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 \u0160iaur\u0117s Miestelis, and the Dommo Business Park manufacturing, warehouse and office complex beside the Riga bypass. At year-end the company\u2019s properties had occupancies of 98% to 100%.<\/em><\/p>\n

INVL Baltic Real Estate\u2019s current property holdings have a total area of 28\u00a0000 sq. m. and a value of EUR 29.7 million.<\/em><\/p>\n

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-end investment company. Management of the company was assumed by INVL Asset Management, one of Lithuania\u2019s leading asset management firms. The company will operate as a closed-end investment company until 2046, with extension possible for a further 20 years.<\/em><\/p>\n\t\t<\/div>\n\t<\/section>\n","protected":false},"excerpt":{"rendered":"

The real estate investment company INVL Baltic Real Estate had a consolidated net profit of EUR 52\u00a0000 in the first quarter of this year, a decrease of 57% compared to the same period of 2021. The company\u2019s consolidated equity at the end of March was EUR 20.34 million.<\/p>\n","protected":false},"author":2,"featured_media":15612,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[14],"tags":[],"class_list":["post-15615","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-group-company-press-releases"],"acf":[],"yoast_head":"\nINVL Baltic Real Estate\u2019s net operating income in the first quarter was EUR 514\u00a0000 - Invalda INVL<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.invaldainvl.com\/en\/group-company-press-releases\/invl-baltic-real-estates-net-operating-income-in-the-first-quarter-was-eur-514-000\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"INVL Baltic Real Estate\u2019s net operating income in the first quarter was EUR 514\u00a0000 - Invalda INVL\" \/>\n<meta property=\"og:description\" content=\"The real estate investment company INVL Baltic Real Estate had a consolidated net profit of EUR 52\u00a0000 in the first quarter of this year, a decrease of 57% compared to the same period of 2021. 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