In a €32m sale and leaseback deal, the U.S.-based W.P. Carey, through its non-traded REIT CPA:17, took over a cold-storage facility from Greenyard (formerly Greenyard Foods).The 309,759-square-foot facility is located near Warsaw and is a subject to a 20-year, triple-net lease with annual inflation-adjusted rent increases. The proceeds will be used to pay down debt associated with the facility.
The facility is Greenyard’s largest cold-storage property in Poland and is strategically located in “Zone II” of Warsaw’s logistics market in the town of Zabia Wola, approximately 30 minutes from Warsaw’s city center. The facility is critical to the company’s customer supply chain, offering direct delivery to stores and 24/7 operations with more than 100 trucks dispatched each night. CPA:17 is advised and managed by WP Carey.
