W. P. Carey Obtains Innovation Center for €31 million

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Corporate financing firm W. P. Carey Inc. has obtained the new European Innovation Center of Royal FrieslandCampina in the Netherlands for €31 million.

Wageningen University and Research Center
Kemal Y./flickr

Royal FrieslandCampina is the fourth largest dairy company in Europe and the fifth largest worldwide. Around 20,000 employees in 28 countries work for Royal FrieslandCampina. Last year, it produced an income of €10.3 billion.

This month, the building of the latest center was recently finished by construction company Hurks. It is located in Wageningen University and Research Center campus.  The facility is found in an area called the Dutch "Food Valley," where global food corporations are located. Likewise, life science, bio-science, and agribusiness R&D are also in the campus.

"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," W. P. Carey Managing Director Jeffrey Lefleur said.

W. P. Carey Inc. is a real estate investment trust (REIT) that offers and provides long-term sale-leaseback financing and build-to-suit construction financing for companies around the world. It has an investment portfolio of about $15.2 billion.

Source: W. P. Carey Inc.