First up was the $18.6-million build-to-suit financing of a 160,000-sf office facility in Eagleview, PA for a provider of post-secondary adult technical training. Once completed, the facility will be leased back under a 20-year triple net lease. Next there was the $16.8-million acquisition of a 305,700-sf office/manufacturing/distribution facility from a global manufacturer and marketer of industrial products and systems. The facility, which is located in Kahl am Main, Germany, serves as the company's European headquarters. The facility will be leased on an 18-year triple-net basis, with two five-year renewal options. The $9.8-million acquisition of a 49,000-sf sports and fitness center from a health club chain was the final deal. The facility, located in Englewood, CO, will be leased under a 19-year triple net lease and includes two five-year renewal options.

Gordon F. DuGan, president and co-CEO of WP Carey notes that the firm provides an alternative form of financing as companies seek to grow and expand their businesses. "This past year we provided creative financing solutions to 28 different high-quality companies around the world representing 24 different industries," he explains, adding that the firm provided more than $700 million in financing in 2003. All told, WP Carey owns and/or manages more than 75 million sf at 550 commercial and industrial properties throughout the US and Europe.