US investment firm WP Carey has acquired the global headquarters and largest production facility of German auto parts manufacturer Lindenmaier for an undisclosed sum. Lindenmaier is leasing back the property and a separate industrial warehouse on a long-term basis. WP Carey is also providing EUR 21.8 mln in financing to Lindenmaier.
US investment firm WP Carey has acquired the global headquarters and largest production facility of German auto parts manufacturer Lindenmaier for an undisclosed sum. Lindenmaier is leasing back the property and a separate industrial warehouse on a long-term basis. WP Carey is also providing EUR 21.8 mln in financing to Lindenmaier.
WP Carey has provided a total of $135 mln in financing to German middle-market or 'mittelstand' companies so far this year. 'The German mittelstand market represents a great opportunity for us,' said Edward V. LaPuma, president of WP Carey International. 'In Europe, the credit crunch has reduced sources and availability of financing for companies of all sizes. Because we structure our acquisitions with moderate leverage, we are able to continue to fund and close these deals on a timely basis.'
