PR Newswire
NEW YORK, June 17, 2021
NEW YORK, June 17, 2021 /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 industrial investments totaling $137 million and covering approximately two million square feet. The investments comprise five operationally-critical properties net leased to industry-leading tenants, bringing investment volume year-to-date to approximately $900 million with a weighted-average lease term of approximately 22 years.
The investments include:
Gino Sabatini, Head of Investments, W. P. Carey said: "These industrial investments demonstrate our ability to differentiate ourselves in the market as a trusted and reliable capital partner with the experience needed to efficiently execute on high-quality deals. We are excited to have worked with both new and existing tenants on these sale-leasebacks, enabling them to convert their real estate into working capital to help them achieve their business objectives."
W. P. Carey Inc.
W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $19 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,261 net lease properties covering approximately 146 million square feet as of March 31, 2021. For nearly five 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.
www.wpcarey.com
This press release may contain forward-looking statements within the meaning of U.S. Federal securities laws, including the comments of Mr. Sabatini. 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, including the continuing impact of the COVID-19 pandemic; 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.
W. P. Carey Inc. Contacts:
Press Contact:
Anna McGrath
+1 212-492-1166
[email protected]
Institutional Investors:
Peter Sands
+1 212-492-1110
[email protected]
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SOURCE W. P. Carey Inc.
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