PR Newswire
NEW YORK, Sept. 16, 2019
NEW YORK, Sept. 16, 2019 /PRNewswire/ -- W. P. Carey Inc. (NYSE:WPC), a leading net lease REIT specializing in corporate sale-leasebacks, build-to-suits and the acquisition of single-tenant net lease properties, today announced three recent industrial investments totaling approximately $111 million. The investments comprise operationally-critical properties triple-net leased to industry-leading tenants with a weighted-average lease term of approximately 22 years.
The transactions include:
Andrés Dallal, Executive Director of Investments, W. P. Carey, said: "Industrial continues to be one of the most sought-after sectors where we continue to successfully source deals that meet our investment criteria. Our established reputation and ability to quickly structure and close deals with multiple parties continues to position us as the preferred long-term partner for companies looking to unlock the value of their real estate. We look forward to continuing to grow our portfolio and generating shareholder value through accretive acquisitions with strong tenants and high-quality real estate."
About W. P. Carey Inc.
W. P. Carey Inc. ranks among the largest net lease REITs with an enterprise value of approximately $20 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,198 net lease properties covering approximately 137 million square feet. 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.
Media Contacts:
Guy Lawrence
Ross & Lawrence
+1 212-308-3333
[email protected]
Anna McGrath
W. P. Carey Inc.
+1 212-492-1166
[email protected]
Institutional Investors:
Peter Sands
+1 212-492-1110
[email protected]
This press release contains forward-looking statements within the meaning of U.S. Federal securities laws. The comments of Mr. Dallal are examples of forward-looking statements. A number of factors could cause W. P. Carey's actual results, performance or achievement to differ materially from those anticipated. Among those risks, trends and uncertainties are the general economic climate; the supply of and demand for commercial properties; interest rate levels; and other risks associated with the acquisition and ownership of properties, including risks that the tenants will not pay rent, or that costs may be greater than anticipated. For further information on factors that could impact W. P. Carey, reference is made to its filings with the U.S. Securities and Exchange Commission.
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SOURCE W. P. Carey Inc.
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