US sale-and-leaseback specialist W. P. Carey has announced the acquisition of a 67,500 m2 cross-docked logistics facility in the U.K. for £85 mln (€100 mln) in an off-market transaction.
The facility is net leased for a period of 13.5 years to the UK operating subsidiary of Dixons Carphone, a publicly listed multinational electronics and telecommunications retailer and services company. It functions as part of Dixons’ largest and most critical distribution platform in the U.K., primarily supporting its e-commerce business, which is central to the company’s long-term strategy.
Gino Sabatini, head of Investments, W. P. Carey, said: 'As the competition in Europe continues to increase, our 22-year track record, local expertise and on-the-ground presence continue to differentiate us from other investors and enable us to secure attractive investments with industry-leading tenants. We’ve had excellent momentum in Europe over the past few months, which we look to further build upon in 2020.'
