WP Carey has completed a €88m cross-border sale and leaseback deal on a portfolio of food production facilities from Valeo Foods Group.
Three of the facilities are located in the UK, two are in the Czech Republic and one is in Slovakia. The portfolio, which spans approximately 1.3m sq ft, is on 25-year, triple-net countrywide master leases, which are subject to annual CPI-based rent increases.
Jolette Persson, senior vice president, European investments, at WP Carey, said: “This transaction reflects our continued conviction in high quality, mission-critical assets leased to market-leading tenants that operate in resilient industries. Valeo Foods’ international footprint, strong brand portfolio and growth trajectory make this an excellent addition to our portfolio. The structure and scale of the deal demonstrate our ability to deliver tailored capital solutions for corporates across multiple jurisdictions.”
Chelsea Mandel, founder and managing director of Ascension Advisory, added: “This was an exciting deal to lead and we generated a great outcome for all parties. Working with WP Carey was a wonderful experience. Their professionalism, responsiveness and ability to execute complex, cross-border deals set them apart in today’s market.”
