W.P. Carey has announced a $44 million sale-leaseback of two state-of-the-art food manufacturing facilities located in the Midwest totaling in excess of 350,000 square feet. The facilities are master leased on a triple-net basis for a period of 25 years to a leading food manufacturer.
The seller was not disclosed.
Andrés Dallal, executive director of investments, W. P. Carey, said, “In today’s challenging economic environment, sale-leasebacks provide growing companies with a highly efficient capital solution. By selling these properties to W. P. Carey, our newest tenant was able to secure additional capital for reinvestment into its core business. Our experience and ample liquidity enabled us to structure a deal that met the needs of all parties. We look forward to building on this relationship and continuing our partnership over the long-term.”
