PR Newswire
NEW YORK, Oct. 7, 2019
NEW YORK, Oct. 7, 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 investments totaling approximately $124 million (€113 million). The investments comprise industrial facilities in the U.S., Mexico and the Netherlands and a build-to-suit commitment for an industrial R&D facility in Germany. The properties are triple-net leased to industry-leading tenants with a weighted-average lease term of approximately 22 years.
The transactions include:
Gino Sabatini, Head of Investments, W. P. Carey, said: "Today's announcement is a great example of how our geographic diversity and recognized expertise in North America and Europe provide us with a range of opportunities to acquire high-quality, operationally-critical real estate leased to creditworthy tenants. We're confident that our diversified investment approach and established reputation will continue to enable us to source attractive opportunities that meet our investment criteria."
Joseph Mastrocola, Director of Investments, W. P. Carey, commenting on the U.S. transaction, said: "W. P. Carey's ability to quickly and efficiently close complex, cross-border transactions continues to differentiate us from our competitors and position us as the preferred capital source for industry-leading tenants. We are pleased to complete this accretive transaction and look forward to supporting our newest tenant's future growth objectives."
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.
www.wpcarey.com
W. P. Carey Inc. Contacts:
U.S.
Press 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]
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SOURCE W. P. Carey Inc.
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