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Slide #87. W. P. Carey & Co. LLC — Portfolio of nine automotive dealerships
Acquirer:
W. P. Carey & Co. LLC (NYSE:WPC)
Acquiree:
Portfolio of nine automotive dealerships
Details:
W. P. Carey & Co. LLC announced today that CPA:17 - Global, one of its publicly held non-traded REIT affiliates, has acquired a portfolio of nine automotive dealerships totaling approximately 380,000 square feet. Three properties are located in Alabama, two in Missouri, and one each in Tennessee, Arkansas, Texas and Louisiana. The portfolio dealerships sell and service market leading brands such as Mercedes Benz, Nissan, Chevrolet, Toyota, Scion, Dodge, Chrysler and Jeep. The total purchase price was approximately $66 million.
W. P. Carey is an internally-managed real estate investment trust. Co.is an owner of commercial real estate, net leased to companies located primarily in the U.S. and Northern and Western Europe on a long-term basis. Co.'s real estate portfolio is comprised primarily of single-tenant industrial, warehouse, office, retail, and self-storage facilities. Co.'s business operates in two segments: Real Estate, which invests primarily in commercial properties that are leased to companies on a triple-net lease basis; and Investment Management, which manages the real estate investment portfolio for Carey European Student Housing Fund I, L.P.
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Hold (2.00 out of 4) 0th percentile
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