On NASDAQ OMX Vilnius stock exchange listed real estate investment company INVL Baltic Real Estate completed acquisition process and increased share in nearby Riga located logistics complex Dommo from 50 to 100 per cent for EUR 3.1 million.
Latvian companies Dommo grupa and Dommo biznesa parks, which 100 per cent is now owned by INVL Baltic Real Estate, owns 12,800 square meters logistics center and 58 hectares of land. Annual revenues of Dommo complex amounts to about EUR 0.6 million.
“Dommo territory is now ready for construction and development of new logistic objects – in the near future we will decide what alternative will create the most value for our shareholders” – says Andrius Daukšas, Director of INVL Baltic Real Estate
INVL Baltic Real Estate group currently invested into real estate objects in Vilnius and Riga. Company was established in April 2014 as a spin off from Invalda LT (currently operating as Invalda INVL). At the end of first quarter of 2015 financial year equity attributable to shareholders of the company was EUR 14.8 million, or EUR 2.10 per share.