Net lease-focused real estate investment trust WP Carey has acquired a 235,000sqft industrial manufacturing facility in Germany in a sale-leaseback deal with plastic film manufacturer RKW.
WP Carey has invested an unspecified sum to acquire the asset located in Wasserburg leased for a term of 20 years with annual, German CPI-based rent increases.
With its latest transaction, WP Carey has reached a total investment of €1.15bn in Germany. The firm has been active in the German market since its debut deal in 2003.
Christopher Mertlitz, head of European investments at WP Carey, said: “This transaction showcases our team’s ability to move quickly to source, structure and execute attractive transactions of all sizes across Europe.
“The facility’s strategic importance, coupled with a market-leading tenant and a long-term lease, made it a highly compelling addition to our portfolio. We are thrilled to expand our footprint in Germany and welcome RKW as our newest tenant.”
Corrado Piroli, CFO at RKW, said: “This investment from WP Carey is an important step in strengthening our financial flexibility. By monetising our Wasserburg facility through a long‑term sale‑leaseback, we have unlocked meaningful liquidity to support our strategy.”
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