NEW YORK CITY-TruServ Corp., a major wholesale hardware co-op headquartered in Chicago, has secured $125 million in financing provided by W.P. Carey after completing a sale-leaseback deal with Carey on seven of its distribution centers.

All of the properties will be leased under 20-year bond-type net leases with two, 10-year renewal options. TruServ was advised by Chicago-based real estate bank Patriot Capital Advisors LLC.

The facilities, totaling more than 3.6 million square feet, are located in Corsicana, TX, Fogelsville, PA, Jonesboro, GA, Kansas City, MO, Kingman, AZ, Springfield, OR and Woodland, CA. W.P. Carey purchased the assets on behalf of Corporate Property Associates 15 Inc., the company’s newest publicly held non-traded REIT, and affiliate funds CPA: 12 and CPA: 14. The properties will be co-owned by the three entities with CPA: 15 retaining a 50% stake, CPA: 14 keeping 35% and the remaining 15% going to CPA: 12.

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