W. P. Carey has acquired three industrial portfolios for a total of approximately $111m. The transactions included a $30m sale-leaseback of three industrial facilities totaling 619,000 sq ft net which are leased to Wendorff Bros. Co. for the next 22 years. The second deal was a $15m sale-leaseback of two industrial facilities in Ontario, Canada, totaling 285,000 sq ft, to Trillium Health Care Products. The third deal was a soon-to-be-completed class-A distribution facility totaling 614,000 sq ft in Tennessee for $66m. The property has a 20-year term triple-net lease.
“Industrial continues to be one of the most sought-after sectors where we continue to successfully source deals that meet our investment criteria. Our established reputation and ability to quickly structure and close deals with multiple parties continues to position us as the preferred long-term partner for companies looking to unlock the value of their real estate,” said Andrés Dallal, executive director of investments at W. P. Carey.
