Bon-Ton, founded in 1898, is a publicly held operator of 73 stores that sells fashion apparel for men, women and children as well as accessories, cosmetics and home furnishings in secondary markets.
Edward V. LaPuma, executive director of W.P. Carey, notes that, "Despite the current softening of the retail sector, our underwriting expertise provided the necessary confidence to complete our second sale-leaseback transaction with Bon-Ton. . . In this case, we were able to provide single-source financing for two separate facilities under one lease."
W.P. Carey, based here, specializes in the ownership and net leasing of corporate properties. It owns and manages more than 4 million sf of real estate in the US and Europe.
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