{"id":39968,"date":"2023-12-26T05:59:06","date_gmt":"2023-12-26T05:59:06","guid":{"rendered":"https:\/\/news.pakistaninewspaperlist.com\/invl-baltic-real-estate-subsidiary-in-latvia-dommo-biznesa-parks-signed-a-loan-agreement\/"},"modified":"2023-12-26T05:59:06","modified_gmt":"2023-12-26T05:59:06","slug":"invl-baltic-real-estate-subsidiary-in-latvia-dommo-biznesa-parks-signed-a-loan-agreement","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/invl-baltic-real-estate-subsidiary-in-latvia-dommo-biznesa-parks-signed-a-loan-agreement\/","title":{"rendered":"INVL Baltic Real Estate subsidiary in Latvia Dommo Biznesa Parks signed a loan agreement"},"content":{"rendered":"
\n

As informed by INVL Baltic Real Estate (hereinafter \u2013 the Company), on 21 December 2023 subsidiary Dommo Biznesa Parks signed EUR 2.55 million loan agreement with OP Corporate Bank plc Latvia branch. The loan repayment term is 1 May 2026. To secure the loan, a plot of land in Latvia and a warehouse located on the plot of land both owned by the Company\u2018s subsidiaries are pledged. The loan is also secured by a pledge of claims arising from existing and future warehouse lease agreements. Additionally, the Company and it\u2018s subsidiary Dommo Grupa signs guarantees to secure the loan mentioned above. The Company’s guarantee will expire if the lease of the warehouse’s main tenant is extended for the agreed period.<\/p>\n

The loan will be used to cover short-term financial obligations and to develop the Company\u2018s real estate projects. The obtained bank financing will positively impact the Company’s net profit due to the lower interest rate than the available short-term financing.<\/p>\n

Additional information:<\/em><\/p>\n

The real estate investment company INVL Baltic Real Estate\u2019s Latvian subsidiary Dommo Biznesa Parks signed a EUR 2.55 million loan agreement with OP Corporate Bank plc Latvia branch.\u00a0<\/p>\n

The funds from the loan will be allocated for covering short-term financial obligations and for the development of the company’s real estate projects.\u00a0<\/p>\n

\u201cWe continue realising our long-term plans of investing in and increasing the value of our property holdings. We are replacing the previous short-term financing with a bank loan on more favourable terms,\u201d says Vytautas Bak\u0161inskas, the real estate fund manager at INVL Asset Management, the leading alternative asset manager in the Baltics, which manages INVL Baltic Real Estate.\u00a0<\/p>\n

INVL Baltic Real Estate owns 32,100 sq. m. of real estate, the value of which at the end of September this year was EUR 41.7 million.\u00a0<\/p>\n

About INVL Baltic Real Estate<\/strong><\/p>\n

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 \u0160iaur\u0117s Miestelis, the Pramog\u0173 bankas and the 55-ha Dommo Logistics and Industrial Park by the juncture of highway A8 and the A5 Riga bypass road. The company\u2019s properties had occupancies of 85% to 100% at the end of September 2023.\u00a0<\/em><\/p>\n

INVL Baltic Real Estate currently owns properties with a total area of 32,100 sq. m., the value of the real estate at the end of September this year was EUR 41.7 million.\u00a0\u00a0<\/em><\/p>\n

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. The fund operates as a closed-ended investment company which is managed by INVL Asset Management, the leading alternative asset manager in the Baltics. INVL Baltic Real Estate will operate as a closed-end investment company until 2046, with extension possible for a further 20 years.\u00a0<\/em><\/p>\n

The person authorized to provide additional information:
Real Estate Fund Manager of Management Company
Vytautas Bak\u0161inskas
E-mail\u00a0vytautas.baksinskas@invl.com<\/u><\/a> <\/p>\n

\n <\/div>\n","protected":false},"excerpt":{"rendered":"

As informed by INVL Baltic Real Estate (hereinafter \u2013 the Company), on 21 December 2023 subsidiary Dommo Biznesa Parks signed EUR 2.55 million loan agreement with OP Corporate Bank plc Latvia branch. The loan repayment term is 1 May 2026. To secure the loan, a plot of land in Latvia and a warehouse located on […]<\/p>\n","protected":false},"author":2,"featured_media":39969,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/ml-eu.globenewswire.com\/Resource\/Download\/3491a9da-7238-4f99-a302-cea3faee93ec","fifu_image_alt":"","footnotes":""},"categories":[208],"tags":[],"class_list":["post-39968","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-globenewswire"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t