WP Carey has acquired two industrial facilities in Ohio in the US and in Northern Italy in a €42m cross-border sale-leaseback deal.
The NYSE-listed net lease real estate investment trust said the two facilities totalling 48,700sqm were acquired in June and August, respectively, and are triple-net leased to a global engineered vehicle and equipment systems business for a term of 20 years.
Christopher Mertlitz, the head of European investments at WP Carey, said: “This acquisition is indicative of our ability to close complex, cross-border deals for high-value assets leased to creditworthy tenants.
“These facilities are well-maintained and located in attractive markets, while also playing a vital role in the tenant’s operations. We are thrilled to continue our strong acquisition momentum while helping companies monetise their real estate assets to support future growth.”
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