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.”

To read the latest edition of the latest IPE Real Assets magazine click here.