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W. P. Carey discloses €253M of investments in Q4'19

Net lease real estate investment trust W. P. Carey Inc. made six property investments in the fourth quarter of 2019 across the U.S. and Europe valued at roughly €253 million.

The triple-net leased properties, the majority of which are industrial assets, have a total area of more than 251,000 square meters and a weighted average lease term of around 20 years.

Broken down, the New York-based REIT acquired a 111,500-square-meter logistics and distribution facility in the Greater Charlotte area on the border of North and South Carolina for €84 million. The property was leased back to an S&P 500 manufacturing company and serves as the tenant's second-largest distribution center in the U.S.

W.P. Carey also bought a 22,600-square-meter experiential retail store along Interstate 78 in Pennsylvania for €50 million. The asset is net leased to a wholly owned subsidiary of sporting goods company Bass Pro Group LLC and houses restaurants, a museum, conference rooms and an aquarium.

In a sale-leaseback transaction, the company also invested in a six-property portfolio comprising four flex-industrial assets and two office properties for €35 million. The 19,800-square-meter portfolio, spread across Texas, Ohio and Louisiana, is net leased to an engineering design solutions and analysis provider. W.P. Carey is set to invest an additional €2.2 million to expand the facility in Ohio with expected completion in late 2020.

W.P. Carey also made a €35 million sale-leaseback deal on two logistics facilities in Denmark and Sweden spanning 46,100 square meters and are leased to construction product company Stark Group A/S, a €34 million acquisition of a 35,800-square-meter class-A distribution property in the U.K. leased to discount retailer Poundstretcher Ltd. and a €15 million sale-leaseback transaction on a 15,100-square-meter warehouse facility near Chicago net leased to Safco Dental Supply.