INVL Baltic Real Estate continued to grow its core business in the first half of the year; profit impacted by lower property revaluation gains

The real estate investment company INVL Baltic Real Estate earned a consolidated net profit of EUR 0.96 million in the first half of this year – 67.6% less than the EUR 2.96 million net profit for the same period last year. The profit was impacted by a smaller gain on the revaluation of investment property.

“Occupancy rates remain high, and the results achieved show the stable development of the portfolio. From next January, the rental portfolio will be expanded by the second Talent Garden co-working space, which will contribute to the further growth of the portfolio,” says Vytautas Bakšinskas, real estate fund manager at INVL Asset Management, which manages INVL Baltic Real Estate.

In the first half of the year, the company’s consolidated revenue amounted to EUR 2 million, an increase of 4% compared to the same period last year (EUR 1.94 million). INVL Baltic Real Estate’s consolidated net operating income (NOI) from its properties grew by almost 8% to EUR 1.25 million.

Stable rental income streams continued to be ensured by the company’s key properties. The net rental income from the company’s largest property – the office building at Palangos g. 4, which houses the Talent Garden Vilnius co-working space – amounted to EUR 0.7 million in the first half of the year, 5.4% less than in the same period last year. At the end of June, the property’s occupancy rate was 91%.

The rental income from the building at Vilniaus g. 37 during the same period was EUR 0.46 million, an increase of 89.6% compared to the corresponding period in 2025. At the end of June, its occupancy rate was 100%.

Rental income from the Žygis Business Centre amounted to EUR 0.21 million, 11.6% more than in the same period of 2025.

At the beginning of the year, the company began major renovation works on the former “Pramogų bankas” building in Vilnius. In January 2027, the second Talent Garden Vilnius co-working space will open here, occupying the entire 3,500 sq. m. area of the building.

The value of the real estate managed by INVL Baltic Real Estate was EUR 50.1 million at the end of June 2026, which is 4.9% higher than at the end of last year.

The company’s consolidated equity at the end of June 2026 was EUR 28.4 million. This amounted to EUR 3.58 per share, representing an increase of 6.1% for the year, including dividends.

About INVL Baltic Real Estate 

INVL Baltic Real Estate manages real estate in Vilnius and Riga, including office buildings in the Old Town of Lithuania’s capital and in Šiaurės miestelis, as well as 52 hectares of land in the Dommo Logistics and Industrial Park, situated near the intersection of the A8 motorway and Riga’s A5 bypass. As of the end of June 2026, the occupancy rate of the company’s properties ranged from 91 to 100%.

At present, the total area of real estate managed by INVL Baltic Real Estate amounts to 19.6 thousand square metres, and the value of the properties reached EUR 50.1 million at the end of June 2026.

Since beginning operations as a collective investment undertaking on 22 December 2016, INVL Baltic Real Estate has been one of the real estate funds in the Baltic region delivering stable returns and accessible to retail investors. Since 2016, the company has paid its investors a total of EUR 2.47 per share in dividends.

INVL Baltic Real Estate operates as a closed-ended investment company (UTIB) managed by INVL Asset Management, the leading alternative asset manager in the Baltic States. Under its status as a UTIB, the company will continue operating until 2046, with an option to extend its term by a further 20 years.

About INVL Asset Management

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’s economic development.

We are part of the Invalda INVL group with a track record spanning over 30 years. Our group manages or has under supervision EUR 2.1 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, managing pension funds in Latvia, and investing in global third-party funds. For further information, visit www.invl.com/en/.

Important information

This is a marketing communication, 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.

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.