for investors
Skala Capital has maintained above 97% occupancy across its portfolio throughout a period of rising interest rates and subdued consumer sentiment, with rent revenues growing consistently year-on-year.
  • Portfolio
    One of the largest commercial property owners in Baltics. Portfolio size is in the same league with many well known real estate funds active in the Baltics.
  • Market
    Portfolio is concentrated on Estonian market, where our key management team is located. Our assets are in the market that we know best.
  • Team
    Seasoned management team with 20 years of experience in commercial real estate management and finance.
Key Investment Highlights
  • Diversified high-quality portfolio
    13 properties with well-known tenants in retail, stock office, industrial and office segments.
  • Strong cash generation
    Solid cash flow from high-yield properties featuring long lease terms, established anchor tenants, and high occupancy rates.
  • Low tenant risk
    Anchor tenants make up only ca. 31% of total rental revenue, as the Group aims to avoid concentration of large tenants for risk diversification purposes.
  • Healthy balance sheet
    Gradually declining leverage with a robust adjusted equity ratio of 40%. Since inception, each of the Group’s annual reports had clean audit verdicts.
In-depth knowledge and more than 20 years of experience in real estate management in the Baltics.
CEO is also holding a MRICS certification, which recognizes his solid competence on international level.
Financial reports
Audited consolidated financial statements of Skala Holding OÜ, prepared in accordance with Estonian GAAP.
Skala Holding OÜ — Annual Report 2025
Audited consolidated financial statements · PDF
Skala Holding OÜ — Annual Report 2025
Audited consolidated financial statements · BDOC