Search
 

WP Carey Completes $63M Industrial Sale-Leaseback

NEW YORK CITY-WP Carey & Co. completes the transaction with International Aluminum Corp. for nine industrial facilities.

By Natalie Dolce | Updated on August 15, 2007

(Read more on the debt and equity markets and the industrial market.)

NEW YORK CITY-Investment firm WP Carey & Co. LLC has completed a $63-million sale-leaseback transaction with International Aluminum Corp., a portfolio company of San Francisco-based private equity firm, Genstar Capital LLC. WP Carey’s affiliated income generating real estate fund, CPA:16–Global, acquired nine industrial facilities from International Aluminum throughout the US and Canada, including properties in Los Angeles, Chicago, San Francisco, Phoenix, Houston, and Vancouver and has leased them back to the company under long-term lease agreements.

Monterey Park, CA-based International Aluminum is a manufacturer of aluminum and vinyl building products used for both commercial and residential applications such as store fronts, decorative entrance doors, and aluminum windows and doors. “W. P. Carey’s investment in the IAL [International Aluminum's] properties is consistent with our approach of identifying and providing financing for creditworthy companies,” says Jason Fox, executive director at WP Carey. “In this case, the sale-leaseback was an integral component of IAL’s capital structure.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.