W. P. Carey Inc., a leading provider of corporate sale-leaseback financing, announced that it has acquired the research and development and class-A office facilities of Cargotec Corporation in Tampere, Finland, which are subject to a 20-year triple-net lease with the company. The total acquisition cost of the 183,569 sqm facility was approximately $52m (€40m).
Cargotec is a Finnish public company that develops and manufactures cargo-handling
machinery for ships, ports, terminals and local distribution. Cargotec’s products are used in every major port around the globe and on half of the world’s oceangoing fleet. It operates in 120 countries, employs approximately 10,000 personnel globally and generated more than $4.3bn (€3.3bn) in revenues in 2012.
The facility was completed in December 2012 as a “Technology and Competence Center” dedicated to research and development of energy-efficient, safe and intelligent machinery and automation solutions.
