Investment firm W. P. Carey & Co. announced that its publicly-held, non-traded REIT affiliate, CPA Global, has entered into a sale-leaseback transaction with the OBI Group totaling approximately EUR 10 mln.
Investment firm W. P. Carey & Co. announced that its publicly-held, non-traded REIT affiliate, CPA Global, has entered into a sale-leaseback transaction with the OBI Group totaling approximately EUR 10 mln.
This is the fourth sale-leaseback W. P. Carey has arranged with the OBI Group over the last four years, providing OBI with more than $200 mln (EUR 134 mln) of total financing. One of the leading (do-it-yourself) DIY retailers in the world, OBI currently operates more than 530 stores in Central and Eastern Europe and is looking to further expand in this region.
The two retail facilities are located in Gorzow Wielkopolsi, Poland. One facility serves as an additional DIY retail store for OBI while the second is subleased to European consumer electronics retailer MediaMarkt, owned by German retail group Metro.
