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W. P. Carey unveils €113M of new property investments

Diversified net-lease real estate investment trust W. P. Carey Inc. disclosed approximately €113 million of investments in industrial assets spread across the U.S., Mexico, the Netherlands and Germany.

In Germany, the company made a €50 million build-to-suit commitment for a new 15,600-square-meter industrial R&D facility, with completion expected in early 2021. Upon completion, the property will be net leased to a supplier of automotive components and systems.

In the U.S. and Mexico, the REIT completed the €48 million sale-leaseback of three industrial facilities totaling 91,000 square meters. Two of the facilities are in the U.S. and one is in Mexico. The properties are net leased to a high-performance tools producer.

In the Netherlands, the company closed on a €15 million sale-leaseback of a 19,000-square-meter light industrial facility net leased to a self-service coffee and vending solutions provider.

W. P. Carey said the properties are triple-net leased with a weighted-average lease term of approximately 22 years.