WP Carey has acquired an office and research & development facility leased to Infineon Technologies (Infineon) on behalf of CPA 18 – Global fund, one of its managed non-traded REITs.

WP Carey has acquired an office and research & development facility leased to Infineon Technologies (Infineon) on behalf of CPA 18 – Global fund, one of its managed non-traded REITs.

The facility is located in Warstein, Germany and was acquired from RFR Group, a global real estate investment and development group, for €20 mln.

Completed in December 2012, the office building was built specifically for Infineon on its existing R&D and production campus. Infineon also recently constructed an additional semiconductor production plant on the campus. The lease term on the DGNB Gold-certified asset is 17 years.

Arvi Luoma, director of WP Carey, commented: 'The purchase from RFR Group highlights our ability to structure transactions worldwide with institutional owners and developers to provide liquidity in support of their global portfolio strategies.'