WARSTEIN, Germany—New York-based Trust manager W. P. Carey Inc. says that CPA:18 – Global, one of its managed non-traded REITs, has acquired an office and research & development facility leased to Infineon Technologies AG.

The facility, located in Warstein, was acquired from RFR Group, a global real estate investment and development group, for $25 million (€20 million).

"As one of the world's largest semiconductor companies, Infineon is a market leader and a solid addition to CPA®:18 – Global's tenant portfolio,” said Arvi Luoma, W.P. Carey's director. “The recently completed facility is a mission-critical asset for Infineon and demonstrates its long-term strategic commitment to the region. The purchase from RFR Group also highlights our ability to structure transactions worldwide with institutional owners and developers to provide liquidity in support of their global portfolio strategies."

The deal includes the following:

• Strong credit tenant: Infineon, one of the world's largest semiconductor companies, is listed on the Frankfurt stock exchange and has a market capitalization of approximately $11.6 billion (€9.2 billion). It is also part of the DAX 30, Germany's blue chip index and has been part of the Dow Jones Sustainability Index since 2010.  Infineon has a strong bala! nce sheet and reported revenues and net profit for the fiscal year ending September 30, 2013 of $5.2 billion (€3.8B) and $368 million (€272M), respectively. 

• Established location in stable country: Germany is Europe's largest economy, rated AAA/Stable by all major ratings agencies. Infineon has been operating at the Warstein location for more than 65 years. 

• Mission-critical asset: The modern office building was built specifically for Infineon on its existing R&D and production campus. Infineon also recently constructed an additional semiconductor production plant on the campus. The facility serves as one of Infineon's two global competence centers, making the location vital to the company's long-term strategy.

• Modern facility: Completed in December 2012, the facility is DGNB Gold certified with "Energy A" Rating.

• Lease term: Approximately 17 years.

Michael Fuchs, principal of RFR Group, noted: "Given their focus on long-term leased quality single-tenant assets as well as their global investment expertise, W. P. Carey's CPA:18 – Global was the ideal buyer for this asset.  The transaction enabled us to efficiently carry out our strategic portfolio initiatives."