Sale-and-leaseback specialist WP Carey has acquired the European Innovation Centre of dairy company Royal Friesland Campina in the Netherlands.
Sale-and-leaseback specialist WP Carey has acquired the European Innovation Centre of dairy company Royal Friesland Campina in the Netherlands.
The total acquisition cost was €31 mln.
Royal FrieslandCampina is the fourth largest dairy company in Europe and the fifth largest in the world. The company employs approximately 20,000 personnel across 28 countriesand generated €10.3 bn in revenue in 2012.
Construction of the new facility was completed in July 2013 by Dutch development and construction company Hurks. Situated on the campus of the Wageningen University and Research Centre, the facility is located within a region known as the Dutch 'Food Valley', where many international food companies, as well as life science, bio-science, and agribusiness R&D centres are concentrated.
The premises comprises 7,100 m2 of office space, 4,600 m2 of laboritories, and 6,300 m2 of other facilities for a total of 400 staff.
Jeffrey Lefleur, managing director of WP Carey, said: 'The transaction marks our second deal in the Netherlands this year overall and supports our business model of acquiring critical operating assets on long-term, single-tenant net-leases.'
