{"id":2796,"date":"2021-09-30T07:56:31","date_gmt":"2021-09-30T07:56:31","guid":{"rendered":"https:\/\/cifras.lt\/capitalica\/web\/capitalica-baltic-real-estate-fund-iconsolidated-assets-grew-by-6-6-in-first-half-of-2021\/"},"modified":"2021-09-30T07:56:31","modified_gmt":"2021-09-30T07:56:31","slug":"capitalica-baltic-real-estate-fund-iconsolidated-assets-grew-by-6-6-in-first-half-of-2021","status":"publish","type":"post","link":"https:\/\/capitalica.lt\/en\/capitalica-baltic-real-estate-fund-iconsolidated-assets-grew-by-6-6-in-first-half-of-2021\/","title":{"rendered":"\u201eCapitalica Baltic Real Estate Fund I\u201cconsolidated assets grew by 6.6% in first half of 2021"},"content":{"rendered":"<p><strong>The consolidated assets of Capitalica Baltic Real Estate Fund I, managed by Capitalica Asset Management, an SBA Group company, increased by 6.6 per cent to 73.3 million euros in the first half of this year compared to 31 December 2020. As a result, net profit for the first half of 2021 grew by 3.5 per cent to 997 thousand euros, with 963 thousand euros in the same period last year.<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p>\u201cWe continue to increase our asset value and profits, and our developed, fully rented-out high-demand buildings are generating a stable cash flow for us. In the near future, the fund\u2019s value and profitability growth will be catalysed by the Verde office complex in Riga, and its construction work has already gained momentum &#8211; 7 of 10 of its storeys have been built. Despite the tense situation in the construction and commodities markets, we are managing the risks \u2013 work is continuing at the construction site at full pace, and it is planned for completion according to schedule,\u201d says the head of Capitalica Asset Management Andrius Bar\u0161tys.<\/p>\n<p>&nbsp;<\/p>\n<p>Verde project\u2019s, which is valued at 65 million euros, first stage is expected to be completed in the second half of 2022. Negotiations are currently underway with potential tenants regarding office premises in the 45-thousand square-metre complex, and the project completion date is planned in 2023. The construction process for Verde is managed by the SBA company Notus Developers, with the Latvian company Velve acting as a contractor.<\/p>\n<p>&nbsp;<\/p>\n<p>The European Investment Bank (EIB) allocated a loan of 22 million euros to construct the office complex Verde, approving financing from the investment package aimed at combatting climate change as the business centre is planned to be a nearly zero-energy building.<\/p>\n<p>&nbsp;<\/p>\n<p>Capitalica Asset Management, which manages the Capitalica Baltic Real Estate Fund I, is engaged in the management of commercial real estate in the Baltic States. The investment management company was established in 2016. Its controlling stake (70%) belongs to one of the largest Lithuanian capital business groups, SBA, while the remaining 30% of the shares belong to the A. Bar\u0161tys company Fox Holdings.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><strong>For more information:<\/strong><\/p>\n<p>Andrius Bar\u0161tys,<\/p>\n<p>CEO of Capitalica Asset Management<\/p>\n<p><a href=\"mailto:Andrius.Barstys@capitalica.lt\">Andrius.Barstys@capitalica.lt<\/a><\/p>\n<p>+370 612 30260<\/p>\n<p>Up\u0117s g. 21-1,\u00a0 LT-08128 Vilnius, Lietuva<\/p>\n<p>www.capitalica.lt<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Annex: <\/strong><a href=\"https:\/\/attachment.news.eu.nasdaq.com\/a7d13182bfe4014ccbbb46f7c9f7b1537\">consolidated report of the CBREFI Fund for the first half of 2021<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The consolidated assets of Capitalica Baltic Real Estate Fund I, managed by Capitalica Asset Management, an SBA Group company, increased by 6.6 per cent to 73.3 million euros in the first half of this year compared to 31 December 2020. As a result, net profit for the first half of 2021 grew by 3.5 per [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1936,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-2796","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>\u201eCapitalica Baltic Real Estate Fund I\u201cconsolidated assets grew by 6.6% in first half of 2021 - Capitalica<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/capitalica.lt\/en\/capitalica-baltic-real-estate-fund-iconsolidated-assets-grew-by-6-6-in-first-half-of-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u201eCapitalica Baltic Real Estate Fund I\u201cconsolidated assets grew by 6.6% in first half of 2021 - Capitalica\" \/>\n<meta property=\"og:description\" content=\"The consolidated assets of Capitalica Baltic Real Estate Fund I, managed by Capitalica Asset Management, an SBA Group company, increased by 6.6 per cent to 73.3 million euros in the first half of this year compared to 31 December 2020. 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