Made on behalf of investors that include two pension funds, the deal is understood to be worth in the hundreds of millions.
Tag Archives | Australia
Known as the country’s ‘food bowl’, the region’s capacity for year-round crop production as well as permanent plantings is a major draw for institutional investors – both domestic and foreign.
The acquisition of Australia’s Palgrove Stud brings the sovereign fund’s land portfolio to 33 farms worth $215m.
The Australia-focused investment and farm management company’s decision to sell brings one of the country’s largest irrigated properties to market.
CBRE, which is managing the sale on behalf of AgCap-managed SAF, says it will ‘soon’ make further announcements regarding the remainder of the fund’s holdings.
One of Australia’s largest irrigated and dryland cropping operations has attracted interest from domestic and international investors.
Below average rainfall and frost have led to dramatic cuts to wheat, barley, canola and chickpea production forecasts.
The A$120m deal by Archstone Investment, an agri investment firm owned by the Hui family, comes less than a year after the failed sale to another Chinese investor.
Livestock producers were among those who benefitted from the uplift, with cattle prices rising nearly 40% in the year to March.
Pair chosen to operate South Australia’s services for the next 40 years – the second such deal in the country, after a Hastings-led team won a New South Wales bid in March.