{"id":1004107418,"date":"2014-11-13T08:15:15","date_gmt":"2014-11-13T16:15:15","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004107418"},"modified":"2022-12-07T19:54:56","modified_gmt":"2022-12-08T03:54:56","slug":"international-w-p-carey-buys-31-australian-industrial-properties-for-138m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/international-w-p-carey-buys-31-australian-industrial-properties-for-138m\/","title":{"rendered":"INTERNATIONAL: W. P. Carey Buys 31 Australian Industrial Properties for $138M"},"content":{"rendered":"<p><i>By Alex Girda, Associate Editor<a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/11\/Inghams-Australia.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004107439\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/international-w-p-carey-buys-31-australian-industrial-properties-for-138m\/inghams-australia\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/11\/Inghams-Australia.jpg\" data-orig-size=\"500,378\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Inghams-Australia\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/11\/Inghams-Australia.jpg?w=500\" class=\"alignright size-thumbnail wp-image-1004107439\" alt=\"Inghams-Australia\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/11\/Inghams-Australia.jpg\" width=\"150\" height=\"150\" \/><\/a><\/i><\/p>\n<p>Global net-lease real estate investment trust W.P. Carey has completed yet another international acquisition, closing a 20-year sale-leaseback deal with Inghams Enterprises Pty. Ltd., for a portfolio of 31 properties in the Australian market.<\/p>\n<p>The industrial and agricultural properties were acquired for $138 million, 157 million in AUD.<\/p>\n<p>Inghams is the largest poultry producer in the country of Australia, and is one of the best-known food brands in the area. For the fiscal year ending in March 31, 2014, the company saw a revenue level of approximately $2.1 billion, and a market share estimated at 35 percent. The company has been also doing well as a result of its long-term contracts with fast-food chains such as McDonald\u2019s and KFC, as well as its status as supplier to the country\u2019s largest supermarket chain. The company is currently under the ownership and management of global private investment firm TPG, whicj acquired Inghams in the summer of 2013. The real estate properties involved in the transaction are now all part of 20-year triple net-lease agreements.<\/p>\n<p>According to Managing Director of W.P. Carey Asia, Grace Shui, the sale-leaseback deal perfected with Inghams \u201crepresents W.P. Carey\u2019s first investment in Australia and reflects our established position as a source of financing for creditworthy private equity-sponsored and privately held companies, as well as our strategy of owning and expanding a well-diversified real estate portfolio.\u201d The CEO of Inghams, Kevin McBain, noted that the transaction will allow the seller to \u201cstrengthen our balance sheet and accelerate our strategic growth plans.\u201d<\/p>\n<p>The transaction was made for a number of crucial real estate assets for the company\u2019s business in Australia. The buildings comprise a very large chunk of the company\u2019s long-term supply chain infrastructure for raw materials, and are strategically located within the company\u2019s state-of-the-art logistics system. All of the assets allow for future expansion and are constructed to provide the means for increased production.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>W.P. Carey has completed yet another international acquisition, closing a 20-year sale-leaseback deal with Inghams Enterprises Pty. Ltd., for a portfolio of 31 properties in the Australian market. <\/p>\n","protected":false},"author":952,"featured_media":1004107439,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,16,21783,21742],"tags":[],"class_list":["post-1004107418","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-international","category-investment","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>INTERNATIONAL: W. P. Carey Buys 31 Australian Industrial Properties for $138M - Commercial Property Executive<\/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:\/\/www.commercialsearch.com\/news\/international-w-p-carey-buys-31-australian-industrial-properties-for-138m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"INTERNATIONAL: W. P. Carey Buys 31 Australian Industrial Properties for $138M\" \/>\n<meta property=\"og:description\" content=\"W.P. Carey has completed yet another international acquisition, closing a 20-year sale-leaseback deal with Inghams Enterprises Pty. 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