- Long term triple-net lease with strong tenant: Agrokor is Croatia's largest private company with approximately 40,000 employees. It is the country's largest food retailer, producer, processor, and distributor. In 2012, Agrokor generated approximately €4 billion in total revenues and €363 million in EBITDA. The five stores are leased to Konzum—the largest food retailer in Croatia and Agrokor's principal subsidiary—on a 20-year triple-net basis. Konzum controls 30% of the national food retailing market and 40% of the market in the capital city Zagreb.
- Modern retail facilities: With a weighted-average age of approximately seven years, the portfolio consists of modern, class-A food retailing assets built to Western standards. Three assets are located in Zagreb with the two remaining stores located in the major coastal tourist destinations of Split and Zadar.
- Acquisition cost: Approximately $92 million (€67 million) gross acquisition cost divided between CPA ®:17 – Global and CPA ®:18 – Global (20% and 80%, respectively), closed on an all-equity basis.
W. P. Carey Provides $92 Million In Sale-leaseback Financing To Agrokor Through Retail Portfolio Acquisition
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