INVL Baltic Real Estate

What INVL Baltic Real Estate does

INVL Baltic Real Estate is a closed-ended real estate investment company (SUTNTIB/UTIB) listed on NASDAQ Vilnius (ticker INVL1L / INR1L), headquartered at Gynėjų g. 14, Vilnius, Lithuania. It invests in and manages commercial real estate in the two largest Baltic capital markets — Vilnius and Riga — with a portfolio aggregating approximately 19,600 sq. m. of built-up commercial space plus a 52-hectare land bank in the Dommo Logistics and Industrial Park at Riga's A8/A5 intersection. The portfolio comprises office buildings in Vilnius's Old Town (Vilniaus g. 37, ~EUR 14.3 million, 91% occupancy) and North Town (Žygio verslo centras, 100% occupancy), the Palangos g. 4 building hosting the Talent Garden Vilnius co-working brand (90% occupancy), and the Dommo land bank. Total managed real estate value stood at EUR 48.3 million as of Q1 2026, up 12.2% year-on-year from EUR 42.6 million at end-2024.

The company's revenue model is conventional real estate income plus capital appreciation: rental income from owned commercial properties is the primary recurring stream (EUR 2.6 million in consolidated rental income for 2025, up 4.3% YoY), supplemented by revaluation gains from renovation and repositioning activity. Group revenue reached EUR 4.1 million in 2025 (+2.8% YoY) and EUR 1.03 million in Q1 2026 (+10.9% YoY); net profit hit EUR 3.67 million in 2025 (+34% YoY) and EUR 296,000 in Q1 2026 (+107% YoY). The UTIB regulatory framework is the structural cornerstone: it provides an operating licence valid until 2046 (extendable by another 20 years) supervised by the Bank of Lithuania, and obliges the company to distribute a meaningful dividend — EUR 0.09 per share for 2025 (EUR 0.714 million total), bringing cumulative per-share dividends since inception to EUR 2.38.

The company is externally managed by INVL Asset Management, the leading alternative asset manager in the Baltic states (part of Invalda INVL, operating for 30+ years with EUR 2.1 billion AUM). It targets retail investors seeking liquid, professionally-managed access to commercial Baltic real estate, distributing shares via NASDAQ Vilnius. The company itself runs a minimal 1–10 employee headcount; day-to-day property leasing and administration is executed by subsidiary entities (UAB Proprietas and UAB Rovelija) and INVL Asset Management, with capital renovation of the historic Pramogų bankas building (A. Stulginskio g. 8, Vilnius) currently underway to deliver a second Talent Garden Vilnius co-working location (3,500 sq. m., 48 private offices, 325 workstations) by end-2026, financed by an expanded EUR 23.1 million credit facility from AB Artea bank.

Name

INVL Baltic Real Estate

Legal name

SUTNTIB „INVL Baltic Real Estate"

Website

https://bre.invl.com

Company type

Public

Founded year

2014

Operating status

Operating

Headcount range

1–10 employees

Short description

INVL Baltic Real Estate is a publicly listed closed-ended real estate investment company (UTIB) on NASDAQ Vilnius managing approximately EUR 48 million of commercial real estate in Vilnius and Riga — including offices, the Talent Garden Vilnius co-working brand, and a 52-hectare Riga logistics land bank — for retail investors seeking Baltic property exposure.

Ownership category

akta.pro rank

Headquarters

HQ city

Vilnius

HQ country

Lithuania

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Rental income from commercial properties: The primary revenue stream consists of rental income from owned commercial real estate assets including office buildings, co-working spaces, and logistics/industrial land. Properties include office buildings in Vilnius Old Town and North Town, co-working space Talent Garden Vilnius at Palangos g. 4, renovated Vilniaus g. 37 property, and Dommo Logistics and Industrial Park land in Riga.
2. Real estate value appreciation: Income derived from increases in the market value of managed real estate assets. The company reported a 12.2% year-on-year increase in managed real estate assets value to EUR 47.8 million in 2025, driven by strategic milestones including construction permits and renovation projects.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

INVL Baltic Real Estate is a closed-ended real estate investment company (UTIB) listed on NASDAQ Vilnius that invests in commercial real estate in Vilnius and Riga to generate rental income growth and property value appreciation for retail investors. The company manages approximately 19,600 sq. m. of commercial properties including office buildings, co-working space, and logistics/industrial land, distributing annual dividends to shareholders.

Product overview

INVL Baltic Real Estate operates as a closed-ended real estate investment company (UTIB) — the core investment product — offering retail investors access to a diversified commercial real estate portfolio in Vilnius and Riga. The portfolio is composed of distinct property assets: the flagship Palangos g. 4 office building (housing the Talent Garden Vilnius co-working sub-brand), the reconstructed Vilniaus g. 37 office building, Žygio verslo centras, and the Dommo Logistics and Industrial Park land holdings. The company provides direct property leasing and management services to tenants. The portfolio of ~19,600 sq. m of commercial space is managed under a unified investment strategy aimed at generating stable rental income and capital appreciation.

Differentiator

Problem solved

Functional benefit

Brands

• Talent Garden Vilnius: Co-working space operator in Vilnius. First location opened in 2020 at Palangos g. 4. Second location (3,500 sq. m.) under development at former Pramogų bankas building, expected to open end of 2026 with 48 private offices and 325 workstations.

Products and services

• INVL Baltic Real Estate investment fund (UTIB) Closed-ended real estate investment company (UTIB) that invests in commercial real estate in Vilnius and Riga to generate rental income growth and capital appreciation for retail investors. Shares are publicly traded on NASDAQ Vilnius, allowing investors to access a diversified commercial real estate portfolio (approximately 19,600 sq. m.) including office buildings, co-working space, and logistics/industrial land, with annual dividends and NAV growth.
• Talent Garden Vilnius co-working space Premium co-working space service operating within INVL Baltic Real Estate's Palangos g. 4 building in Vilnius. The first location serves flexible workspace customers including enterprises, mid-market businesses, and startups seeking co-working workstations and private offices. The space operator manages daily co-working operations on behalf of the property owner.
• Commercial property leasing services Commercial real estate leasing and property management services offered to commercial tenants occupying INVL Baltic Real Estate-managed buildings. Tenants include office tenants (e.g., Market Pay Denmark Aps, Aggressive Capital), food and beverage operators (e.g., Saint-Malo restaurant, Drops bar, Habits café), and co-working operators (e.g., Talent Garden Vilnius). Properties managed include office buildings in Vilnius Old Town and North Town, with occupancy rates ranging from 90% to 100% as of March 2026.

Quantifiable outcome

• 34% increase in net profit in 2025 to EUR 3.67 million, compared to EUR 2.74 million in 2024
• +3 more outcomes

Named customers6 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core and minor.

• Talent Garden VilniuscoreStrategic or Co-development PartnerTalent Garden Vilnius is the co-working space operator partner occupying INVL Baltic Real Estate's Palangos g. 4 building. A second Talent Garden Vilnius location is under development at the former Pramogų bankas building, scheduled to open end of 2026. The second location will span 3,500 sq. m. with 325 workstations and 48 premium private offices.
• UAB Senojo miesto architektaiminorImplementation/ SI/ Consulting PartnerArchitecture firm responsible for the capital renovation and heritage conservation design of the former Pramogų bankas building (formerly Pergalės cinema) in Vilnius. The renovation project involves facade improvements, panoramic skylights, and copper sheet roofing.
• Plazma architecture studiominorImplementation/ SI/ Consulting PartnerArchitecture studio responsible for the interior design and space layout vision of the second Talent Garden Vilnius location being developed at the former Pramogų bankas building.
• UAB Sivysta, UAB Sumani inžinerija, UAB Elneda, UAB Elteros projektai, UAB AZCMminorImplementation/ SI/ Consulting PartnerConstruction and project management firms engaged for the capital renovation of the former Pramogų bankas building. UAB AZCM handles project management. The renovation includes structural work, facade restoration, engineering systems installation, and interior fit-out.

Scale indicators10 records

Recent moves9 records

Expansion highlights5 records

Others

• AB Invalda INVL: Lithuanian investment holding company and parent group of INVL Asset Management (which manages INVL Baltic Real Estate). Comparable through its role as the parent entity of the broader Invalda INVL group and its involvement in Baltic real estate and asset management, though its primary business is broader investment holding rather than real estate.

Broad incumbents

• Citycon Oyj: Nordic retail and mixed-use real estate company listed on NASDAQ Helsinki. Comparable as a publicly listed Nordic/Baltic-region commercial real estate vehicle, with similar investment-vehicle structure and retail-investor distribution model, though focused on retail rather than office properties.
• Catena AB: Swedish listed logistics real estate company. Comparable to INVL Baltic Real Estate through its logistics property focus, relevant given INVL's 52-hectare Dommo Logistics and Industrial Park in Riga. Provides a public benchmark for logistics real estate valuation and performance.
• Castellum AB: One of the largest Nordic commercial real estate companies listed on NASDAQ Stockholm. Comparable to INVL Baltic Real Estate through its commercial real estate (office, logistics, mixed-use) investment focus, providing a relevant public-market benchmark for office and commercial portfolio performance.
• Technopolis Oyj: Nordic operator of shared office and coworking spaces listed on NASDAQ Helsinki. Comparable through its flexible workspace operations (relevant to INVL's Talent Garden Vilnius co-working strategy) and broader office real estate exposure, though at significantly larger scale across the Nordics.
• Kojamo Oyj: Finland's largest private residential REIT listed on NASDAQ Helsinki. Comparable to INVL Baltic Real Estate through its publicly listed REIT-equivalent structure serving retail investors with stable rental-yield exposure, though Kojamo focuses on residential rather than commercial properties.

Direct peers

• Hepsor AS: Baltic real estate development company listed on NASDAQ Tallinn, focused on residential and commercial development in Estonia, Latvia, and Lithuania. Comparable to INVL Baltic Real Estate in its Baltic geographic footprint and commercial real estate focus, though Hepsor is more development-led rather than fund-led.
• EfTEN Real Estate Fund: Estonian closed-ended real estate fund listed on NASDAQ Tallinn investing in commercial real estate across the Baltic states. Highly comparable business model and asset profile to INVL Baltic Real Estate, with similar focus on office, retail, and logistics properties generating rental income for public shareholders.
• Baltic Horizon Fund: Closed-ended real estate fund listed on NASDAQ Tallinn with a Baltic-focused commercial property portfolio across Lithuania, Latvia, and Estonia. Directly comparable to INVL Baltic Real Estate in structure (publicly listed Baltic real estate fund), investment strategy (commercial real estate for rental income and value appreciation), and target investor base (retail investors seeking Baltic real estate exposure).

Regional players

• Triglav Skladi (Triglav Funds): Slovenian asset manager operating real estate investment funds. Comparable as a regional CEE closed-ended real estate investment vehicle targeting retail investors with stable rental income exposure, though operating in a different geographic market than INVL Baltic Real Estate.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/rvalentonisinvl
• Facebookfacebook.com/invlassetmanagement
• LinkedInlinkedin.com/company/invl

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about INVL Baltic Real Estate