Capitalica Baltic Real Estate Fund I Posts 1.1 Million Euros Net Consolidated Profit in the First Half of 2023
“Capitalica Baltic Real Estate Fund I,” a leading real estate fund managed by “Capitalica Asset Management,” a subsidiary of the ”SBA Group,” ended the first half of 2023 with 3,2% increase in consolidated assets and more than 2% increase in equity. During the first six months of 2023, the Fund achieved a consolidated net profit of around 1,1 million euros. Sales during the period amounted to more than 1.2 million euros. The development and effective management of the assets in commercial real estate were the main drivers of the growth.
Vilnius, Lithuania, 2023-09-29 15:02 CEST --
“Capitalica Baltic Real Estate Fund I,” a leading real estate fund managed by “Capitalica Asset Management,” a subsidiary of the ”SBA Group,” reports financial results for the first half of 2023.
“Capitalica Baltic Real Estate Fund I” has shown considerable financial growth as per the unaudited first-half report for 2023. Consolidated assets have increased to 138.9 million euros, a 3,2% growth from the end of 2022 (134,5 million euros). A total of 133.7 million euros was added by the 3% growth in the value of investment assets. Meanwhile equity capital has increased by a significant 2.2% from the end of 2022 to 48.6 million euros.
CEO of “Capitalica Asset Management” Mindaugas Liaudanskas stated, "Our commitment to enhancing and expanding services in the Baltic office sector has produced stable growth for our investors. While focused on investing in sustainable, green objects, we have achieved remarkable results reflected in the semi-annual numbers. The fact that our open office buildings are almost 100% occupied is an evidence of our dedication to quality and forward-looking investment strategies.”
The proactive efforts of the fund to grow and improve services within the Baltic commercial real estate market have produced significant results under the strategic guidance of “Capitalica Asset Management.” Notably, the already open fund-managed office buildings have attained a 100% occupancy rate, including "Žalgirio 135" in Vilnius, "Žaliakalnio Parkas" in Kaunas, and the "Luize" shopping centre in Klaipėda, Lithuania. The occupancy of the first A-class business center "Verde" being developed in Riga is also approaching 100%.
"Our profitability is underpinned by sustainability principles, which we implement across all of our facilities," Liaudanskas emphasised. “Even though our A-class office buildings are energy efficient, growing energy costs push us to reduce operating expenses significantly. We are constantly improving the control of heating, ventilation, and lighting systems through the latest technological advancements, which lowers energy usage and tenant expenses.”
“Capitalica Baltic Real Estate Fund I” focuses on strategic investments in the Baltic real estate market, primarily within the commercial real estate sector. The fund has successfully completed its active investment and acquisition phase, with no further investments expected following the implementation of the "Verde" project in Riga, Latvia. Future real estate acquisitions and developments are planned in newly established funds.
ABOUT CAPITALICA ASSET MANAGEMENT
Capitalica Asset Management is an investment management company focused on commercial real estate properties and projects. Using its experience in the fields of capital markets, real estate and investment funds, the company provides the opportunity to participate in carefully selected commercial real estate strategies. CAM funds are licensed and supervised by the Bank of Lithuania, and the bonds are listed on the Nasdaq stock exchange.
Mindaugas Liaudanskas
CEO of Capitalica Asset Management
mindaugas.liaudanskas@capitalica.lt
+370 612 30412
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