INVL Baltic Real Estate announced its results for the first half of 2014

INVL Baltic Real Estate, the company investing into real estate, consolidated equity was equal to LTL 49.443 million or LTL 7.02 (2.03 EUR) per share at the end of the first half of 2014.

INVL Baltic Real Estate manages real estate objects in Vilnius and Riga. The company has started its activity in the end of April, 2014 after a separation from asset management company Invalda LT. Due to this fact, income and profit announced represent only two months of activity. The income amounts to  LTL 2.9 million and the net profit is LTL 145 thousand.

Consolidated asset of INVL Baltic Real Estate amounts to LTL 135.7 million.

Subsidiary companies of INVL Baltic Real Estate, Invaldos Nekilnojamojo Turto Fondas, AB is the biggest among them, have invested in real estate in Vilnius and Riga and manage about 52 thousand sq. m. of the real estate space. IBC Business Center on Seimyniskiu street, business centers on Vilnius/Palanga and Zygio streets, office and warehouse buildings on Kirtimu street are among the objects managed in Vilnius. The company, together with partners, has invested in logistics buildings near Riga (Latvia), 58 hectares of the area has further development opportunities.

INVL Baltic Real Estate shares are listed on NASDAQ OMX Vilnius stock exchange from the 4 June 2014.

INVL Baltic Real Estate intends to apply for a closed-end investment company licence and in its essence will become similar to fund.