The 89,000 sq m facility is located in the heart of Seeds Valley, a world-leading cluster of research and development facilities focused on developing and producing plant and seed varieties. Seeds Valley is home to over 40 companies operating in the agribusiness sector and the Netherlands is world’s leading centre of agri-science.
Syngenta is a leading, investment grade, global agrochemical and seeds business headquartered in Basel, Switzerland. Research and Development is a core part of Syngenta’s business, with circa 10% of annual sales re-invested in R&D, with the Enkhuizen facility a core part of Syngenta’s seeds business R&D platform. Syngenta has made significant investments into the Enkhuizen facility in recent years and plans to extend the facility further over the coming years.
Chris Nichols, Head of Sale & Leaseback at ICG said:
This is an important deal for ICG, taking the Sale & Leaseback fund to 1bn Eur of GAV, with an asset which presents excellent mission criticality to Syngenta. The life sciences conducted at this facility are truly exciting and we’re proud to add this investment to our portfolio. We look forward to partnering with Syngenta and supporting them in their expansion of this core R&D facility.
This transaction again showcases ICG’s ability to underwrite and execute transactions working directly with occupiers. We continue to actively seek opportunities and are targeting mission critical assets across continental Europe and the UK. We have circa 1bn Eur to invest and will look at all sectors and opportunities, where the importance of the asset to the tenant is evident.
Syngenta’s Site Head, Peter Acda, said:
“This sale and lease back allows us to re-invest cash into the Enkhuizen site and to focus on delivering pioneering science.”
CBRE brokered the transaction and advised Syngenta. CBRE Capital Advisors Netherlands supported ICG in securing financing for the transaction.
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Intermediate Capital Group’s (ICG) real estate division has over 1€4.9bn of private debt and private equity assets under management in its core strategies of Senior Debt, Partnership Capital (providing whole loans, mezzanine and preferred equity), Residential Development Finance and Sale and Leaseback. To date it has made 196 investments, providing circa 2€7.1bn of capital across its core strategies.
ICG is a specialist asset manager with over 30 years’ history in private debt, credit, and equity with 3€47.2bn assets under management on behalf of third-party investors and ICG plc balance sheet.
ICG is listed on the London Stock Exchange (ticker symbol: ICP).
1,2,3 As at 31 December 2020