{"id":21684,"date":"2024-11-29T18:44:22","date_gmt":"2024-11-29T16:44:22","guid":{"rendered":"https:\/\/www.invaldainvl.com\/?p=21684"},"modified":"2024-12-02T15:44:43","modified_gmt":"2024-12-02T13:44:43","slug":"invl-baltic-real-estate-group-completes-a-sale-of-property-in-latvia","status":"publish","type":"post","link":"https:\/\/www.invaldainvl.com\/en\/group-company-press-releases\/invl-baltic-real-estate-group-completes-a-sale-of-property-in-latvia\/","title":{"rendered":"INVL Baltic Real Estate group completes a sale of property in Latvia"},"content":{"rendered":"\n<section  class=\"invl-block invl-block-1-columns invl-columns\">\n\t\t\t\t\t<div class=\"column column-1-of-1 c-white padding-top-00 padding-left-40 padding-right-30\" >\n\t\t\t\t\t\t<p>The real estate investment group INVL Baltic Real Estate completed a transaction to sell a property holding in Latvia consisting of a building with 12,800 square metres of warehouse space and a 2.9 hectare plot of land.<\/p>\n<p>The real estate was sold for EUR 7.45 million to Bohnenkamp, one of Europe\u2019s largest suppliers of tyres and wheels for industrial and agricultural equipment and, prior the transaction, the main tenant of the sold building in Latvia.<\/p>\n<p>The 12,800-sq. m. warehouse near the Latvian capital was sold by Dommo Biznesa Parks, a company owned by INVL Baltic Real Estate, while the 2.9 ha plot of land was sold by Dommo Grupa.<\/p>\n<p>\u201cThis transaction not only has a significant positive impact on our financial results but also creates more opportunities to successfully implement the real estate investment projects that are already underway and increase the return to the company\u2019s shareholders,\u201d says Vytautas Bak\u0161inskas, the real estate fund manager at INVL Asset Management, which manages INVL Baltic Real Estate.<\/p>\n<p>As previously announced, the transaction will have a positive impact of EUR 1.6 million on INVL Baltic Real Estate\u2019s operating results and of EUR 0.20 on the company\u2019s net asset value per share.<\/p>\n<p>Following the sale, INVL Baltic Real Estate, via Dommo Grupa, holds 52 ha of land in Latvia at the Dommo Logistics and Industrial Park by the juncture of highway A8 and the A5 Riga bypass road. The land is intended for development or sale.<\/p>\n<p><strong>About INVL Baltic Real Estate<\/strong><\/p>\n<p>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, the Pramog\u0173 bankas in the centre of Vilnius, and the 52-ha Dommo Logistics and Industrial Park by the juncture of highway A8 and the A5 Riga bypass road. The company\u2019s properties had occupancies of 85 % to 100 % at the end of September 2024.<\/p>\n<p>INVL Baltic Real Estate currently owns properties with a total area of 19,300 sq. m., the value of the real estate at the end of September 2024 was EUR 45.59 million.<\/p>\n<p>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 INVL Baltic Real Estate\u00a0operates 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.<\/p>\n<p><strong>About INVL Asset Management<\/strong><\/p>\n<p>INVL Asset Management is the leading Baltic alternative asset manager. We strive to deliver superior risk-adjusted returns to our investors while positively impacting our region&#8217;s economic development.<\/p>\n<p>We are part of the Invalda INVL group with a track record spanning over 30 years. Our group manages or have under supervision more than EUR 1.6 billion of assets across multiple asset classes including private equity, forests and agricultural land, renewable energy, real estate as well as private debt. Our scope of activities also includes family office services in Lithuania, Latvia and Estonia, management of pension funds in Latvia, and investments in global third-party funds. Further information www.invl.com\/en\/.<\/p>\n<p><strong>Important information<\/strong><\/p>\n<p>This is a marketing communication of an information nature, which is not and shall not be construed as an offer to purchase investment shares of a collective investment undertaking, an investment recommendation, or investment research, as it is not designed to take into account the investment objectives, financial situation, or needs any individual investor.<\/p>\n<p>When investing, the investors assume the risk associated with the investment. The value of investments can both rise and fall, and an investor may recover less than he\/she\/it has invested. Past investment results do not guarantee the same results or profitability in the future. Past performance is not a reliable indicator of future performance. Before making a decision to invest, potential investors should, on their own or with the help of investment advisers, assess the suitability of the investment for them along with the taxes and fees related to the investment, consider all the risks related to the investment, and carefully read the articles of association, prospectus and other documents of the respective collective investment undertaking.<\/p>\n\t\t<\/div>\n\t<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":19,"featured_media":21592,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[14],"tags":[],"class_list":["post-21684","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-group-company-press-releases"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>INVL Baltic Real Estate group completes a sale of property in Latvia - 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