NYSE-listed net-lease real estate investment trust WP Carey has secured a 20,000sqm manufacturing facility in Germany in a sale-leaseback.
WP Carey said the facility is triple-net leased for a 20-year term, with fixed annual rent increases, to a global provider of precision-engineered moulding solutions.
Financial details were not disclosed.
Christopher Mertlitz, head of European investments at WP Carey, said: “This transaction reflects exactly the type of opportunity we look to pursue in Europe – a mission-critical asset, leased on a long-term basis to a market-leading tenant.
“We continue to see opportunities in the manufacturing and industrial sector, particularly in Germany, where corporate demand for alternative capital solutions remains strong, creating attractive entry points for disciplined, long-term investors like WP Carey.”
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