INVL Baltic Real Estate, the company investing into real estate, consolidated equity was equal to LTL 49.774 million or LTL 7.07 (EUR 2.05) per share at the end of the nine months of 2014.
INVL Baltic Real Estate has started its activity in the end of April 2014 after a separation from Invalda LT, one of the major companies in Lithuania investing in other businesses and managing assets. Due to this fact, income and profit announced represent only five months of activity. The rental income amounts to LTL 6.068 million and the net profit is LTL 476 thousand.
The largest subsidiary company of INVL Baltic Real Estate, Invaldos Nekilnojamojo Turto Fondas, AB signed a loan agreement with Siauliu Bankas regarding LTL 53 million loan at the end of the third quarter of 2014.
The term of the agreement is 5 years. Invaldos Nekilnojamojo Turto Fondas will refinance a loan of another financial institution.
"Having a long term bank financing, will enable us to concentrate on a long term goals to increase value and maximise returns to investors," – Darius Sulnis, a director of INVL Baltic Real Estate, said.
Group companies of INVL Baltic Real Estate have about 51 700 sq. m of the real estate space in Vilnius and Riga.
