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."

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

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.