W.P. Carey International, a subsidiary of investment firm W. P. Carey & Co. has acquired a portfolio of 61 French logistics properties through a sale and leaseback transaction with the Fraikin Group for $68 mln (EUR 51.5 mln).
W.P. Carey International, a subsidiary of investment firm W. P. Carey & Co. has acquired a portfolio of 61 French logistics properties through a sale and leaseback transaction with the Fraikin Group for $68 mln (EUR 51.5 mln).
The properties provide a total of 93,000 m2 of space and are spread across France. The facilities, which represent the majority of Fraikin's French operating assets, are generally located in prime industrial parks outside of large cities, including locations in Paris, Lille and Marseille.
Founded in 1973, W. P. Carey & Co. LLC is a global real estate investment firm that provides asset management services. With approximately $5 bn in equity capital, the W. P. Carey Group is one of the largest providers of net lease financing for corporations worldwide. It owns approximately 800 commercial and industrial properties, valued at approximately $8.5 bn, in 13 countries.The Fraikin Group is a portfolio company of CVC Capital Partners.
