W. P. Carey closes sale-leaseback of 16 grocery stores net-leased to Danish food retailer
W. P. Carey, a net-lease REIT specializing in corporate sale-leasebacks, build-to-suits and the acquisition of single-tenant net-lease properties, has completed the sale-leaseback of 16 grocery stores in Denmark. The properties are net-leased to Danish food retailer, Coop Danmark, which has a well-diversified portfolio of brands accommodating all grocery retail sectors such as discount, supermarket, hypermarket and premium.
W. P. Carey said the two transactions of €40 million ($40.8 million) and €24 million ($24.5 million) closed in June and August, respectively, and include a commitment by W. P. Carey to acquire seven additional stores by the end of 2022, once refurbishments are completed.
The transaction follows two prior sale-leasebacks with Coop that were completed in December 2021 and February 2022. Following the latest deal, W. P. Carey will own 42 of Coop’s food retail stores by the end of 2022.
“We’re delighted to extend our partnership with Co