W.P. Carey Buys US, Dutch Assets Totaling 467,000 SF

NEW YORK CITY-Investment banking firm W.P. Carey & Co. LLC, based here, has completed a sale/leaseback deal involving two US properties and one in the Netherlands that brings its Q2 total acquisitions to a record $168 million.

The facilities were purchased from Minneapolis-based office equipment supplier Katun Corp. for roughly $35.6 million. The sale was completed in conjunction with the leveraged buyout of Katun by Banc of America Capital Investors and Chicago-based private equity firm Svoboda, Collins LLC.

Under the terms of the deal, the assets will be leased under two 20-year bond-type net leases. The properties, which total roughly 467,000 sf, include Katun’s Bloomington, MN corporate headquarters as well as the company’s main distribution facilities located in Davenport, IA and Gorinchem, the Netherlands. W.P. Carey’s Corporate Property Associates 14 Inc. made the acquisition.