“Capitalica Baltic Real Estate Fund I” Financial Data for the First Half of 2024
The consolidated assets managed by the investment company “Capitalica Asset Management’s” real estate (RE) fund “Capitalica Baltic Real Estate Fund I” grew by 7.6% to EUR 161 million in the first half of 2024.
The investment assets managed by “Capitalica Baltic Real Estate Fund I” increased by 5.7% to EUR 154 million in the first half of 2024. The most significant contributor to this growth was the investment in the development of the “Verde” office complex in Riga, the greenest business center in the city. The construction of the “Verde” business center was completed in late April 2024.
The consolidated sales of the SBA Group's investment management company “Capitalica Asset Management’s” Fund grew by 20% to EUR 4.9 million in the first half of 2024.
“Capitalica Baltic Real Estate Fund I” posted a consolidated net loss of EUR 0.9 million in the first half of 2024. It is expected that this loss will decrease by the end of the year due to declining interbank interest rates and an increasing number of tenants in the business centers managed by the Fund.
In the first half of 2024, the Fund successfully redeemed EUR 3 million in bonds and additionally issued another EUR 5 million in bonds, aimed at completing the construction of the “Verde” business center.
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