W. P. Carey has closed on the purchase of three industrial properties for a combined $124m. Totaling 1.351 million sq ft, the assets are triple-net leased to industry-leading tenants with a weighted-average lease term of approximately 22 years. The facilities are located in the US, Mexico and the Netherlands along with a build-to-suit commitment for an industrial R&D facility in Germany.
“Today’s announcement is a great example of how our geographic diversity and recognized expertise in North America and Europe provide us with a range of opportunities to acquire high-quality, operationally-critical real estate leased to creditworthy tenants. We’re confident that our diversified investment approach and established reputation will continue to enable us to source attractive opportunities that meet our investment criteria,” said Gino Sabatini, head of investments at W. P. Carey.
