ROTTERDAM, Netherlands—W.P. Carey Inc. hascommitted about $86 million to acquire asingle-tenant office building and an adjacent multi-tenanthigh-rise tower here for one of its REIT's.
The acquisition is on behalf of the firm's CPA:18 –Global, one of its managed non-traded REITs.
"This acquisition by CPA:18 – Global marks the second majortransaction by one of our managed REITs in the Netherlands thisyear,” said Jason Fox, co-head of globalinvestments of W. P. Carey. “The investment further reinforces ourrole as a capital source for European companies, developers andinvestors looking to recycle capital into new investments. The long-term lease commitment, coupled with the inherent value ofthe asset itself, is representative of the criteria we look forwhen sourcing and structuring portfolio acquisitions."
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
