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Sep 29, 2020 12:43 PM ET

W. P. Carey Announces $44 Million Industrial Property Investment

W. P. Carey Announce

iCrowd Newswire - Sep 29, 2020

 W. P. Carey Inc., a leading net lease REIT specializing in corporate sale-leasebacks, build-to-suits and the acquisition of single-tenant net lease properties, today announced a $44 million sale-leaseback of two state-of-the-art food manufacturing facilities located in the Midwest totaling in excess of 350,000 square feet. The facilities are master leased on a triple-net basis for a period of 25 years to a leading food manufacturer.

Key Facts:

Andrés Dallal, Executive Director of Investments, W. P. Carey said: “In today’s challenging economic environment, sale-leasebacks provide growing companies with a highly efficient capital solution. By selling these properties to W. P. Carey, our newest tenant was able to secure additional capital for reinvestment into its core business. Our experience and ample liquidity enabled us to structure a deal that met the needs of all parties. We look forward to building on this relationship and continuing our partnership over the long-term.”

Andrew Sandquist, Vice Chairman, Newmark Knight Frank said: “W. P. Carey has consistently been a reliable partner for us, so when this sale-leaseback opportunity emerged with a high-quality tenant, we immediately knew they would be the ideal investor. They had the capital and experience needed to get this deal done quickly and efficiently while meeting the needs of my client.”

W. P. Carey Inc.

W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $18 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,216 net lease properties covering approximately 142 million square feet as of June 30, 2020. For over four decades, the company has invested in high-quality single-tenant industrial, warehouse, office, retail and self-storage properties subject to long-term net leases with built-in rent escalators. Its portfolio is located primarily in the U.S. and Northern and Western Europe and is well-diversified by tenant, property type, geographic location and tenant industry.

Institutional Investors:
Peter Sands
W. P. Carey Inc.

Press Contact:
Guy Lawrence
Ross & Lawrence

Contact Information:

Peter Sands
W. P. Carey Inc.

Tags:    Wire Real Estate, Wire, United States, English