W. P. Carey Inks 15-Property NNN Lease

A property in the ABC Group portfolio on which W. P. Carey is doing a sale-leaseback deal.

NEW YORK CITY—W. P. Carey has completed a sale-leaseback with ABC Group for a portfolio of ten industrial facilities and one office facility in the US and Canada. Additionally, the net-lease REIT has entered into a sale-leaseback agreement for the acquisition of four additional industrial facilities in Mexico, which is expected to be completed this year. The total purchase price for all 15 properties is approximately $145 million.

The 15-property portfolio will be leased on a triple-net basis in US dollars under master leases by country for a period of 20 years, and will include annual CPI-based rent escalations. The SLB transaction includes approximately 2.4 million square feet of vertically integrated manufacturing facilities representing the majority of ABC’s North American footprint.