W. P. Carey International has provided approximately EUR 31 mln in long-term financing through the sale and leaseback of three manufacturing facilities owned by Gortz+Schiele, a German manufacturer of precision engine blocks in Germany, the US and Mexico.
W. P. Carey International has provided approximately EUR 31 mln in long-term financing through the sale and leaseback of three manufacturing facilities owned by Gortz+Schiele, a German manufacturer of precision engine blocks in Germany, the US and Mexico.
The portfolio comprises G & S's global headquarters in St. Ingbert, Germany, as well as its entire US production capacity. 'This sale-leaseback with G+S highlights our desire to provide long-term financing to auto suppliers and other industrial companies throughout Germany,' Edward V. LaPuma, president of W. P. Carey International said.
The company is an affiliate of New York listed investment firm W. P. Carey & Co. Founded in 1973, W. P. Carey & Co. is a global real estate investment firm with over $5 bn (EUR 3.7 bn) in equity capital. The group owns more than 800 commercial and industrial properties in 13 countries. The portfolio comprises over 9 million m2 and is valued at approximately $8.5 bn.