INVL Baltic Real Estate agrees additional EUR 8 million financing with Artea bank
INVL Baltic Real Estate, a real estate investment company, has agreed an additional EUR 8 million credit with Artea bank. The main part of these funds will be directed towards the capital refurbishment and conversion of the company-owned building in the centre of Vilnius, formerly known as Pramogų bankas, into a co-working space.
“The majority of the additional financing has been allocated to ensure smooth implementation of one of the company’s most important projects in this phase – the refurbishment of the former Pramogų bankas building. We seek to create a distinctive space that meets modern business needs while preserving the building’s historical value,” says Vytautas Bakšinskas, real estate fund manager at INVL Asset Management, which manages INVL Baltic Real Estate.
After refurbishment, the historic building will host the second Talent Garden Vilnius co-working space.
During the capital refurbishment, both the interior and exterior of the building will be fundamentally renewed. Additional windows are planned for the side façades, while standard skylights in the attic will be replaced with panoramic ones. The tiled roof will be replaced with copper sheet covering, and the façades and all engineering systems will be modernised.
Following the refurbishment, Talent Garden Vilnius will occupy the entire building, with a usable area of 3,500 sq. m after conversion. The premises will offer 325 workstations, most of which will be located in 48 premium private offices designed for 4–8 persons.
The new space will feature rich infrastructure: 20 meeting rooms, an impressive 300 sq. m kitchen, numerous dedicated call areas, relaxation and games rooms, a reading lounge, and other spaces designed for collaboration and work.
About INVL Baltic Real Estate
INVL Baltic Real Estate owns real estate in Vilnius and Riga: office buildings in the Old Town of the Lithuanian capital on Vilniaus Street and in Šiaurės Miestelis, the Pramogų bankas in the centre of Vilnius, and the 52-ha of land in Dommo Logistics and Industrial Park by the juncture of highway A8 and the A5 Riga bypass road. The company’s properties had occupancies of 82% to 98% at the end of September 2025.
INVL Baltic Real Estate currently owns properties with a total area of 19,600 sq. m., the value of the real estate at the end of September 2025 was EUR 47.4 million.
Since its launch as a collective investment undertaking (on 22 December 2016), INVL Baltic Real Estate has been one of the Baltic real estate funds open to retail investors with the highest stable returns. Since 2016, the INVL Baltic Real Estate has paid a total of EUR 2.38 in dividends per share to investors.
INVL Baltic Real Estate is a closed-ended investment company managed by INVL Asset Management, the leading alternative asset manager in the Baltics. It will operate as a closed-ended investment company until 2046, with the possibility of a 20-year extension.
About INVL Asset Management
INVL Asset Management is the leading Baltic alternative asset manager. We strive to deliver superior risk-adjusted returns to our investors while positively impacting our region’s economic development.
We are part of the Invalda INVL group with a track record spanning over 30 years. Our group manages or has under supervision EUR 2 billion of assets across multiple asset classes, including private equity, forests and agricultural land, renewable energy, real estate as well as private debt. Our scope of activities also includes family office services in Lithuania, Latvia, and Estonia, managing pension funds in Latvia, and investing in global third-party funds. For further information, visit www.invl.com/en/.
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