Vilnius, Lithuania, 2014-06-02 15:11 CEST (GLOBE NEWSWIRE) -- Real estate investment company INVL Baltic Real Estate, whose shares will be listed on the NASDAQ OMX Vilnius Stock Exchange since 4 June, presents its owned property and future plans.
Subsidiary companies of INVL Baltic Real Estate 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.
"The objects managed by Group companies are in good locations, generate regular cash flows. The main focus will be on increasing generated cash flow, and, under economic logic, new investments will be made for restructuring of objects, thus increasing their value, "- said Andrius Dauksas, Invalda LT investment manager supervising real estate projects.
The company's equity value would be LTL 49 million (EUR 14.2 million) at the end of March 2014, the value of real estate assets, managed by the Group companies – LTL 144 million (EUR 41.7 million).
INVL Baltic Real Estate, separated from Invalda LT, intends to seek for a closed-end investment company license and in its essence will become similar to investment fund. Management of INVL Baltic Real Estate later will be transferred to Invalda LT Investments, owned by Invalda LT.
INVL Baltic Real Estate has issued a total of 7,044,365 shares, book value of one share is LTL 6.96 (EUR 2.02).
Presentation of INVL Baltic Real Estate is attached.
The person authorized to provide additional information:
Phone +370 5 279 0601
INVL Baltic Real Estate
INVL Baltic Real Estate Logo