W. P. Carey Inc., a leading provider of corporate sale-leaseback financing, announced that CPA®:17 – Global, one of its publicly held non-traded REIT affiliates, has acquired a Toyota automotive dealership facility in Lewisville, Texas for approximately $15m. The facility will be leased back to RML Automotive on a triple-net basis for a term of 16 years.
The sale-leaseback provided financing for RML’s acquisition of the dealership business. The transaction follows an initial automotive dealership sale-leaseback financing completed with RML in September 2012 as part of W. P. Carey’s strategic partnership with CapRocq Automotive, LLC.
