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WP Carey Completes $45 Million in Sale-Leaseback Deals

NEW YORK-Sale-leaseback specialist WP Carey has completed three more transactions totalling $45 million, including its first German acquisition. The sale-leaseback transactions involved more than 515,000 sf.

By Graham Parker | Updated on January 05, 2004

NEW YORK-Sale-leaseback specialist WP Carey & Co has added to its $6bn portfolio with three deals involving 515,000 sf of space. And it has moved into the German market for the first time.

In Eagleview, PA, WP Carey has agreed a $18.6 million build-to-suit financing of a 160,000 sf office facility for a leading provider of post-secondary adult technical training. Once completed, the facility will be leased back under a 20-year triple net lease and in Englewood, Colorado, the company is buying a 49,000 sf sports and fitness center from one of the country’s leading health club chains for $9.8 million. The facility will be leased under a 19-year triple net lease and includes two five-year renewal options.

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