Wednesday, August 01, 2007

Carter Holt Harvey Completes $277 Million Sale Leaseback of Property Portfolio in New Zealand & Australia

egoli - July 30, 2007

Valad Property Group (VPG) announced it would acquire a portfolio of privately held retail depots and packaging plants for $277.3 million. The company said that the sale and leaseback arrangement provides Valad with strategically-located assets and long term income from a blue chip tenant.

The portfolio is operated by Carter Holt Harvey, which is a private company owned by New Zealand businessman Graeme Hart. The portfolio consists of 15 Carters retail warehouse depots in New Zealand, 10 packaging plants including five in Australia, and an office property in Auckland. The company said that five development sites located on the North Island of New Zealand are also included in the transaction. Sphere: Related Content

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