POZNAN, POLAND-W. P. Carey Inc., through CPA: 17 - Global, one of its publicly held non-traded REIT affiliates, has acquired a logistics center of H&M Hennes & Mauritz AB in Poznan, Poland from a fund managed by Invesco Real Estate.
The total acquisition cost for the 896,911 sq ft (83,325 sq m) facility was approximately $85 million (€64 M).
“The acquisition marks our fourth European transaction this year overall, bringing total year-to-date investment in Europe to approximately $217 million (€166 M),” said Jeffrey Lefleur, managing director of W. P. Carey. “We were attracted to the long-term income provided by the lease, the strong guarantee of H&M and the high quality of the property.”
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
