The property was acquired on behalf of Corporate Property Associates 16 - Global Incorporated. Tolmar occupies the building under a long-term, triple-net lease, according to W.P. Carey.
Tolmar used the proceeds to finance its acquisition of the majority of the US assets of QLT Inc., a Canadian biopharmaceutical company. Tolmar is using QLT to enter the US market with manufacturing capabilities in multiple drug areas.
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