NEW YORK CITY— W.P. Carey Inc., a real estate investment trust specializing in corporate sale-leasebacks, build-to-suits, and the acquisition of single-tenant net lease properties, has completed three investments totaling an estimated $124 million. Each property is triple net-leased for an average weighted lease term of 22 years.
The cross border investment opportunities are industrial properties spread out in the US, Mexico and Germany. Acquiring the properties in an aggregate fashion was in line with the REIT's growth initiative to scale up its portfolio with high-quality industrial assets.
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Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
