Real estate investment company INVL Baltic Real Estate reported a consolidated net profit of EUR 1.11 million for the first nine months of 2026, dropping 66% from EUR 3.25 million during the same period last year as property revaluation gains slowed across its portfolio.
Consolidated revenue for the first three quarters stood at EUR 3 million, remaining virtually unchanged from the same period in 2025.
Occupancy Rates Drive Rental Income
By the end of September, the occupancy rate of the office building at Palangos Street 4 sat at 83%. The largest managed property—which houses the Talent Garden Vilnius co-working space—brought in net rental income of EUR 1.06 million, marking a 7.1% decrease compared to the corresponding timeframe last year over the nine-month stretch ending on 30 September 2026.
Vytautas Bakšinskas, real estate fund manager at INVL Asset Management, which manages INVL Baltic Real Estate, described the portfolio drivers. The results for the nine months of this year reflect the growing demand for our properties,
Bakšinskas expressed, noting specific pleasure regarding the Vilniaus Street 37 property, which saw rental earnings climb past 50 per cent, alongside the Žygio Business Centre achieving full capacity.
Talent Garden Vilnius Space Opens in January 2027
The company is wrapping up major renovation work at the former Pramogų bankas building in Vilnius, where the second Talent Garden Vilnius co-working space is scheduled to open in January 2027. The new location will occupy the building’s entire 3,500 square meters of space, with 43% of it already leased ahead of the official opening, bringing metres of prime space to the portfolio.
Occupancy ranged between 83 and 100 per cent across all properties in Vilnius and Riga—including Old Town office buildings, Šiaurės miestelis spaces, and 52 hectares of land at the Dommo Logistics and Industrial Park—with the total area of real estate managed by INVL Baltic Real Estate amounting to 19.6 thousand square metres. As of September 2026, the total value of real estate managed by the firm reached EUR 52.3 million, representing a 9.6% increase compared to the end of the previous year.
Consolidated Equity Reaches EUR 28.53 Million
Total annual growth per share, including distributed dividends, reached 5.5%. The company’s consolidated equity at the end of September 2026 amounted to EUR 28.53 million, translating to an exact net asset value of EUR 28,527,345 or EUR 3.5961 per share according to official filings on 30 September 2026.
Functioning as a closed-end investment entity directed by INVL Asset Management, the company retains the collective investment undertaking status secured on 22 December 2016. Under its current corporate structure, the entity is authorized to operate until 2046, with provisions allowing for a potential 20-year extension.