GELSENKIRCHEN, Germany—W. P. Carey Inc. saysone of its managed non-traded REITs, has acquired a hypermarket inGelsenkirchen. The facility is leased to Real,Germany's largest hypermarket operator and a subsidiary ofMetro AG, the German retail conglomerate. Theproperty was acquired through Carey's CPA:17 – GlobalREIT.

"This transaction offered the opportunity for CPA:17 – Global toacquire a stable retail asset with an attractive risk-adjustedyield and subject to a long-term triple net-lease,” saidArvi Luoma, director of W. P. Carey. “While webelieve retail in the United States is in many instances overbuilt,big box retail in Europe—in this case, Germany—with strong creditsis a far more attractive opportunity. Having completed atransaction with Metro in Italy in 2011, we are pleased to expandupon this relationship and release capital from this asset that cannow be deployed into Metro's operating business."

Real is one of the four key business units of Metro AG(Metro). Metro, one of the world's largest retailers, israted BBB-/Stable by S&P and is listed on the Frankfurt StockExchange with a market capitalization of approximately $10billion (€7.9 billion).