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)


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