US sale-and-leaseback specialist WP Carey has finalised €113 mln of triple-net-lease investments involving several industrial properties across North America and Europe.
In the US and Mexico, the New York-listed REIT has acquired three industrial facilities through a €48m sale-and-leaseback.
In Germany, WP Carey is building a 15,600 m2 research and development facility near Frankfurt for €50 mln. Upon completion in early 2021, the building will be net-leased to a global supplier of automotive components and systems for 20 years with inflation-linked increases.
In the Netherlands, the REIT has acquired a 19,000 m2 light industrial facility in Rotterdam through a €15 mln sale-and-leaseback. The recently renovated facility is net-leased to a provider of self-service coffee and vending machines for 20 years.
Commenting on the European transactions at Expo Real, Arvi Luoma, head of European investments at WP Carey, said: ‘We’re excited to add two new high-quality assets to our growing European portfolio, in two of our largest investment markets, Germany and the Netherlands. We look forward to growing our relationships with our newest tenants and to supporting their future growth objectives.’