W. P. Carey Inc., a real estate investment trust, announced that CPA®:17 – Global has acquired a 272,000 sqm manufacturing and office facility in Portage, Wisconsin. The property will be leased to Penda Corporation under a 20 year net lease. The purchase price was approximately $10m.
Headquartered in Portage, Penda Corporation is a leading designer, manufacturer and marketer of heavy gauge thermoformed products. Over Penda’s 37-year history, the company is best known for being a market leading supplier of drop-in bedliners to General Motors, Ford, Chrysler, Nissan, and Toyota.
Penda is owned by Resilience Capital Partners, a Cleveland, Ohio based private equity firm, and Littlejohn & Company, LLC, a private equity firm based in Greenwich, Connecticut.
In addition, W. P. Carey announced that CPA®:17 – Global has acquired a 62,000 sqm House of Blues entertainment venue and restaurant facility in Dallas, Texas. The property is leased to a subsidiary of Live Nation Entertainment, Inc., which also guarantees the lease. The purchase price was approximately $16m.
