INVL Baltic Real Estate first quarter profit reached EUR 296,000
The real estate investment company INVL Baltic Real Estate generated a consolidated net profit of EUR 296 thousand during the first three months of this year – 107% more than in the same period last year, when net profit amounted to EUR 143 thousand.
"First-quarter results were primarily driven by increased rental income. We are particularly pleased with the performance of the Vilniaus g. 37 property – rental income in this building grew almost 2.5 times year-on-year, and we achieved 100% occupancy by the end of the quarter. Simultaneously, we are continuing the redevelopment of the former Pramogų bankas building – this project will enable us to offer high-quality flexible workspaces to the market, meeting the demands of modern businesses," says Vytautas Bakšinskas, real estate fund manager at INVL Asset Management, which manages INVL Baltic Real Estate.
The company's consolidated revenue for January–March 2026 reached EUR 1.03 million, and was 10.9% higher than in the same period in 2025. Of this, consolidated rental income from owned properties increased by 7% to EUR 594 thousand. INVL Baltic Real Estate's consolidated net operating income (NOI) from owned properties for the first quarter amounted to EUR 587 thousand, or 18.6% more than in the corresponding period last year.
Rental income from the Vilniaus g. 37 building amounted to EUR 228 thousand in the first quarter of 2026 – 148% more than in the corresponding period of 2025. By the end of March, the property's occupancy reached 100%, and its value stood at EUR 14.3 million.
Rental income for the Žygio Business Centre was EUR 106 thousand, or 18.6% more than in the corresponding period of 2025. Occupancy of the property reached 100% by the end of the quarter.
Net rental income from INVL Baltic Real Estate's largest managed property – the Palangos g. 4 office building, home to the co-working space Talent Garden Vilnius – amounted to EUR 317 thousand in the first quarter of 2026, or 7.1% less than in the corresponding period last year. By the end of the quarter, the property's occupancy was 90%.
At the start of the year, the company commenced redevelopment work on the former Pramogų bankas building. By the end of 2026, the building will house the second Talent Garden Vilnius co-working space, which will occupy the entire building, with a usable area of 3,500 sq. m. post-redevelopment.
The value of real estate managed by INVL Baltic Real Estate totalled EUR 48.3 million at the end of March 2026, and was 1.1% higher than at the end of the previous year.
The company's consolidated equity reached EUR 28.43 million at the end of March 2026. This figure amounted to EUR 3.58 per share, representing a 12.2% increase year-on-year.
About INVL Baltic Real Estate
INVL Baltic Real Estate manages real estate in Vilnius and Riga, including office buildings in the Old Town of Lithuania’s capital and in Šiaurės miestelis, as well as 52 hectares of land in the Dommo Logistics and Industrial Park, situated near the intersection of the A8 motorway and Riga’s A5 bypass. As of the end of March 2026, the occupancy rate of the company’s properties ranged from 90 to 100%.
At present, the total area of real estate managed by INVL Baltic Real Estate amounts to 19.6 thousand square metres, and the value of the properties reached EUR 48.3 million at the end of March 2026.
Since beginning operations as a collective investment undertaking on 22 December 2016, INVL Baltic Real Estate has been one of the real estate funds in the Baltic region delivering stable returns and accessible to retail investors. Since 2016, the company has paid its investors a total of EUR 2.38 per share in dividends.
INVL Baltic Real Estate operates as a closed-ended investment company (UTIB) managed by INVL Asset Management, the leading alternative asset manager in the Baltic States. Under its status as a UTIB, the company will continue operating until 2046, with an option to extend its term by a further 20 years.
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 2.1 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/.
Important information
This is a marketing communication, which is not and shall not be construed as an offer to purchase investment shares of a collective investment undertaking, an investment recommendation, or investment research, as it is not designed to take into account the investment objectives, financial situation, or needs any individual investor.
When investing, the investors assume the risk associated with the investment. The value of investments can both rise and fall, and an investor may recover less than he/she/it has invested. Past investment results do not guarantee the same results or profitability in the future. Past performance is not a reliable indicator of future performance. Before making a decision to invest, potential investors should, on their own or with the help of investment advisers, assess the suitability of the investment for them along with the taxes and fees related to the investment, consider all the risks related to the investment, and carefully read the articles of association, prospectus and other documents of the respective collective investment undertaking.
