November 10, 2016
W.P. Carey Inc., headquartered in New York, struck a sale-leaseback deal with Toronto-based ABC Group Inc. to acquire a portfolio of 10 industrial facilities and one office property in the United States and Canada. Part of the $145 million transaction includes a sale-leaseback agreement for the acquisition of four more industrial facilities currently under construction in Mexico.
The sale-leaseback transaction covers approximately 2.4 million square feet of vertically integrated manufacturing facilities, representing most of ABC’s North American footprint. The portfolio is being leased on a triple-net basis under master leases by country for 20 years.
ABC is a supplier of molded thermoplastic components and systems to the automotive industry’s original equipment manufacturers (OEMs). Cerberus Capital Management LP acquired ABC earlier this year.
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