Arvi A. I. Luoma, head of European Investments for W.P. Carey in London, says, “Logistics remains a sought-after asset class across Europe, which has demonstrated attractive liquidity and growth trends. Our acquisition of a mission-critical facility in a prime logistics location in Portugal was a rare and attractive opportunity in a market with relative undersupply. The investment further diversifies our portfolio with a strong market-leading tenant in a highly defensive industry largely insulated from e-commerce disruption.”

The property has built-in annual rent escalations tied to Euro Area CPI and a remaining term of more than 10 years and is situated on a large parcel of land with substantial building rights, providing potential future expansion opportunities, company officials note.

W.P. Carey has an enterprise value of more than $11 billion and a global portfolio of operationally-critical commercial real estate totaling 878 properties covering approximately 87 million square feet.