Regarding possible sale of part of INVL Baltic Real Estate’s

We give notification that negotiations are underway regarding the sale of the IBC Business Centre on A. Juozapavičiaus and Šeimyniškių streets in Vilnius which is owned by the closed-end investment company INVL Baltic Real Estate (hereinafter may be referred to as the Company).

At present the potential investor, closed-end investment fund for informed investors LORDS LB BALTIC GREEN FUND (V), managed by LORDS LB ASSET MANAGEMENT UAB, has applied to the Competition Council for permission to carry out the transaction. The outcome of the transaction will be announced after the Competition Council’s conclusions. A decision is expected early next year.

The Company’s net asset value per share at the end of September 2019 was EUR 2.7185. If the property referred to above had been sold at the end of September 2019 for the transaction price, the net asset value per share would be approximately EUR 3.29.

The IBC Business Centre has a gross floor area of approximately 22,700 sq. m. and a leasable area of 17,600 sq. m. Its occupancy level was 98 percent at the end of the third quarter of 2019. On completion of the transaction, leasing agreements with tenants would remain in effect and be continued according to the effective terms and conditions of the agreements. 

The possible transaction involving 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 person authorized to provide additional information:

Real Estate Fund Manager of Management Company

Vytautas Bakšinskas

E-mail