Intermediate Capital Group (ICG) has acquired Syngenta’s seeds research & development and production facility in Enkhuizen, Netherlands, by way of a 20 year triple-net sale & leaseback. Financial details were kept confidential
The 89,000 m2 facility is located in the heart of Seeds Valley, a cluster of research and development facilities focused on developing and producing plant and seed varieties. Seeds Valley is home to over 40 companies operating in the agribusiness sector and the Netherlands is world’s leading centre of agri-science.
Syngenta has made significant investments into the Enkhuizen facility in recent years and plans to extend the facility further over the coming years.
Chris Nichols, head of sale & leaseback at ICG said, ‘This is an important deal for ICG, taking the sale & leaseback fund to €1 bn of GAV, with an asset which presents excellent mission criticality to Syngenta. The life sciences conducted at this facility are truly exciting and we’re proud to add this investment to our portfolio.’
ICG continues ‘to actively seek opportunities and are targeting mission critical assets across continental Europe and the UK’, he added. ‘We have circa €1 bn to invest and will look at all sectors and opportunities, where the importance of the asset to the tenant is evident.’
CBRE brokered the transaction and advised Syngenta. CBRE Capital Advisors Netherlands supported ICG in securing financing for the transaction.
