Warakirri Asset Management Australia has broadened its Warakirri Diversified Agriculture Fund, surpassing a $150 million portfolio value.

This development includes an acquisition in the Riverina's Murrumbidgee Irrigation Area, integrating two holdings. The 160-hectare citrus planting marks the portfolio's first New South Wales investment.

The off-market $15 million deal introduces a new Tenant Partner, Eureka Farms Australia, under Southern Cross Farms (SCF), with support from Mildura Fruit Company (MFC). SCF, with over 30 years in horticulture and viticulture, will manage the citrus aggregation. MFC, a major citrus packer and exporter, will facilitate the supply to its Pacific Fresh facility in Leeton.

Steve Jarrott, Portfolio Manager, stated: "We're delighted to add another prime horticulture asset in a great region and a sector we believe to be one of the most attractive in the high-value space. The Riverina is one of the most productive and agriculturally diverse regions in Australia, and the citrus orchards of the Leeton and Griffith area are renowned for both high-quality fruit and productivity."

The new asset increases the Fund's citrus exposure to approximately 13% of the portfolio, enhancing geographic spread and diversifying climate, water, and counterparty exposures. The Warakirri Diversified Agriculture Fund also includes investments in berry, almond, soft leaf vegetable, agri-infrastructure, and wine sectors, with eight Tenant Partners across five states.

Source - https://www.freshplaza.com