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Slide #87. W. P. Carey & Co. LLC — Portfolio of nine automotive dealerships
W. P. Carey & Co. LLC (NYSE:WPC)
Portfolio of nine automotive dealerships
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 diversified real estate investment trust (REIT). Co.'s business operates in two segments: Real Estate, in which Co. invests in commercial real estate properties that are net-leased to tenants, primarily located in the U.S. and Northern and Western Europe; and Investment Management, in which Co. manages tjhe portfolios of certain non-traded investment programs through its investment management business, non-traded REITs that have invested in lodging and lodging-related properties, and a private limited partnership formed for the purpose of developing, owning, and operating student housing properties and similar investments in Europe.
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