September 17, 2019
New York-based net lease REIT W. P. Carey Inc. (WPC) made three recent industrial investments totaling approximately $111 million. All three acquisitions focus on operationally-critical properties triple-net leased to industry-leading tenants with a weighted-average lease term of approximately 22 years.
In one $30-million transaction, WPC acquired three Wisconsin properties totaling 619,000 square feet and leased to manufacturing firm Wendorff Bros. In another deal, the REIT bought two industrial facilities in Ontario, leased to Trillium Health Care Products, for $15 million.
WPC has also agreed to acquire, for $66 million, a soon-to-be-constructed Tennessee distribution facility. It will be used by a company that owns and operates dialysis facilities and other medical facilities, and is a leading manufacturer and distributor of dialysis equipment and renal pharmaceuticals.
“Industrial continues to be one of the most sought-after sectors where we continue to successfully source deals that meet our investment criteria,” said WPC’s Andrés Dallal.
Pictured: A Wisconsin warehouse acquired by WPC.
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