INVL Baltic Real Estate
Notification on material event
Agreement on the sale of the part of the Business Centre Vilniaus Vartai owned by INVL Baltic Real Estate has been concluded
The special closed-ended type real estate investment company INVL Baltic Real (hereinafter – “the Company”) gives notification that on 28 September 2020 a real property sale and purchase agreement was concluded with UAB Tvarus projektas, legal entity code 305611411, a company owned by UAB Eastnine Lithuania, regarding the sale of the part of the Business Centre Vilniaus Vartai on Gyneju str. 14, A. Tumeno str. 4 and A. Tumeno str. 6 in Vilnius, that is owned by the Company and its subsidiary UAB Proprietas.
The value of the transaction is EUR 20 million. It is assessed that its impact on INVL Baltic Real Estate’s 2020 profit will be EUR 4,4 million and its impact on the Company’s net asset value (NAV) per share will be EUR 0,33. At the end of June 2020, Company’s NAV per share was EUR 1,8678. It is planned to complete the transaction until the end of September.
The transaction for the sale of part of the Company’s real estate portfolio has no impact on the rights and/or duties of the shareholders of the Company or on the Company’s operations.
The Vilnius Gates business centre on Gyneju str. in the Lithuanian capital has a leasable area of 7 200 square metres. It’s occupancy level as of mid-2020 was 95%.
Since its inception (on 22 December 2016), INVL Baltic Real Estate is the Baltic real estate fund open to retail investors with the highest stable return. The fund operates as a closed-end investment company. Management of the Company was assumed by INVL Asset Management, one of Lithuania’s leading asset management firms. The Company will operate as a closed-end investment company until 2046, with extension possible for a further 20 years.
The person authorized to provide additional information:
Real Estate Fund Manager of Management Company