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WP Carey Buys Two Meat Facilities for $18M

NEW YORK CITY-The investment firms acquires Mountain City Meat Co.'s Denver facility and O'Charley's Inc.'s Nashville factory, which total 250,000 sf.

By Natalie Dolce | Updated on July 31, 2007

NEW YORK CITY-Investment firm WP Carey & Co. LLC acquired Mountain City Meat Co.’s Denver facility and O’Charley’s Inc.’s Nashville facility, on behalf of its publicly held, non-traded REIT-Global. WP Carey purchased the two meat processing facilities, which total approximately 250,000 sf, for approximately $9 million each and will lease them to Mountain City Meat.

A source close to the deal tells Globest.com that this deal has been in the works for approximately four months. They also note that the transaction is consistent with WP Carey’s strategy of investing in assets that are critical to ongoing operations of credit worthy companies.

Headquartered in Denver, Mountain City Meat Co. is a beef processor, supplying a broad range of custom cuts of steak and ground beef to restaurant, foodservice and retail customers. O’Charley’s, a Nashville-based multi-concept restaurant company, has historically produced its own beef and other food products for use by its restaurants but decided to exit the production business and sell its plant, according to a release.

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