PerkinElmer subsidiary Wallac Oy has agreed a 20-year bond-type net lease, with renewal options every five years, on the 282,609-sf facility which provides laboratory, office and production space. Turku is Finland's leading center for hi-tech industries.

This is the first time W P Carey has entered the Finnish market. The property will be held in its Corporate Property Associates 14 fund.

Edward V. LaPuma, Executive Director at W P Carey said: 'This transaction with PerkinElmer is a perfect example of how companies can use the sale-leaseback of their real estate as an effective tool for raising capital regardless of where the properties are located.'

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