Asset description

The largest developer and manager of industrial parks in Latvia with 8 industrial parks and total area of 150 hectares

More than 412,000 square meters of commercial real estate and land plots, with approximately 120,000 square meters leased

Aggregate EBITDA €6 million

Icora's role

Applied varied and thorough valuation methodologies to determine appropriate market value for the property assets

Extensive site visits and management meetings and consultations with experts incorporated into valuation

Devised restructuring solution accommodative to existing operating challenges as well as differences between cash generative (Industrial Park) and non-cash generative assets (Land plots)

Met the objectives of both the bank (debt recovery) and key management (share in future upside)

Sector:
Real Estate
Location:
Baltic countries

Prior projects under the name Icora Partners from 2010 to 2017