The purchase is the first in Croatia for WP Carey, which is based in New York City. Jeffrey Lefleur, executive director of the company, said the purchase was one of the largest real estate transactions in Eastern Europe in the past three years. Given Agrokor's dominance of the agribusiness industry and history of successful acquisitions and growth, this was an ideal situation for us to enter the Croatian market," he said in a statement.
Agrokor, founded in 1976, is the largest private company in Croatia. The vertically-integrated firm has nearly 40,000 employees and almost $5.2 billion in revenues.
King Sturge was the real estate advisor to the transaction. In the past few months, WP Carey has completed about $349 million in sale-leaseback transactions in Europe, including the $22 million sale-leaseback with TDG Limited for a portfolio of eight cold storage facilities.
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