NEW YORK, Nov. 2, 2020 /PRNewswire/ — W. P. Carey Inc. (NYSE:WPC), a leading net lease REIT specializing in corporate sale-leasebacks, build-to-suits and the acquisition of single-tenant net lease properties, today announced the completion of two investments in October 2020 totaling approximately $85 million and over 1.2 million square feet, bringing total year-to-date investment volume to approximately $600 million. The investments comprise four operationally-critical industrial properties triple-net leased to industry-leading tenants with a weighted average lease term of 20 years.
The investments include:
Zachary Pasanen, Executive Director, Investments, W. P. Carey said: “As companies continue to seek alternative sources of capital to support their strategic growth plans now and beyond COVID-19, sale-leasebacks remain a cost-effective, long-term solution for those that own their corporate real estate. In our latest investments, we were able to execute on a tight timeframe and provide certainty of close to meet the needs of both companies due to a combination of our longstanding presence in the sale-leaseback market, local market expertise and ample liquidity. We are delighted to welcome our newest tenants to our growing portfolio and look forward to deepening our partnership with them.”
W. P. Carey Inc.
W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $18 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,215 net lease properties covering approximately 142 million square feet as of September 30, 2020. For nearly five decades, the company has invested in high-quality single-tenant industrial, warehouse, office, retail and self-storage properties subject to long-term net leases with built-in rent escalators. Its portfolio is located primarily in the U.S. and Northern and Western Europe and is well-diversified by tenant, property type, geographic location and tenant industry.
This press release may contain forward-looking statements within the meaning of U.S. Federal securities laws. A number of factors could cause W. P. Carey’s actual results, performance or achievement to differ materially from those anticipated. Among those risks, trends and uncertainties are the general economic climate, including the continuing impact of the COVID-19 pandemic; the supply of and demand for commercial properties; interest rate levels; and other risks associated with the acquisition and ownership of properties, including risks that the tenants will not pay rent, or that costs may be greater than anticipated. For further information on factors that could impact W. P. Carey, reference is made to its filings with the U.S. Securities and Exchange Commission.
Institutional Investors:
Peter Sands
W. P. Carey Inc.
212-492-1110
institutionalir@wpcarey.com
Press Contact:
Guy Lawrence
Ross & Lawrence
212-308-3333
gblawrence@rosslawpr.com
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