NEW SOUTH WALES, Australia—W.P. Carey Inc. has completed a 20-year net-lease transaction with Inghams Enterprises Pty. Ltd. in relation to a portfolio of 31 Australian industrial and agricultural properties for approximately $138 million. Inghams is owned and managed by global private investment firm TPG.
"The transaction with Inghams represents W. P. Carey's 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,” said Grace Shui, managing director of W. P. Carey Asia. “Inghams is a market leader in the Australian food industry with a reputation as a high-quality brand that we are delighted to be partnering with."
Kevin McBain, CEO of Inghams added:
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
