NEW YORK, Sept. 13, 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 the recent
completion of investments totaling approximately $200 million, primarily comprising Class-A
warehouse facilities on long-term net leases.
The investments advance the company's externally driven growth
strategy focused on high-quality industrial and warehouse assets,
which comprise 70% of the approximately $1.2
billion of investments it has completed year to date.
Included in the recent investments were three Class-A warehouse
assets totaling $166 million, the
largest of which was the $114 million
acquisition of a 1.5 million-square-foot warehouse and distribution
facility in Indiana, net leased to
an investment-grade leader in the North American consumer packaged
food market. It also includes the $27
million sale-leaseback of a 187,000-square-foot
temperature-controlled and refrigerated warehouse facility in the
largest distribution market within the Minneapolis MSA, net leased
to a wholesale distributor of brand-name alcoholic beverages, and
the completion of a $25 million
505,000-square-foot warehouse and logistics redevelopment, which is
fully leased and expected to receive LEED certification, located in
Lehigh Valley, Pennsylvania.
W. P. Carey Inc.
W. P. Carey ranks among the largest net lease REITs with an
enterprise value of approximately $21
billion and a diversified portfolio of
operationally-critical commercial real estate that includes 1,266
net lease properties covering approximately 150 million square feet
as of June 30, 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 contains forward-looking statements within
the meaning of U.S. Federal securities laws. 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
W. P. Carey Inc.
212-492-1166
amcgrath@wpcarey.com
Institutional Investors:
Peter
Sands
W. P. Carey Inc.
212-492-1110
institutionalir@wpcarey.com
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SOURCE W. P. Carey Inc.