Whirlpool Completes $179M Sale-Leaseback Portfolio Deal
Four of the U.S. Whirlpool sites are located in Ohio—Marion, Findlay, Ottawa and Clyde—and one is in Cleveland, TN. Two properties are in Fabriano, Italy.
BENTON HARBOR, MI—Locally-based Whirlpool has closed on a $178.9-million sale-leaseback deal on four distribution centers and one manufacturing facility in the US and two office sites in Italy.
The sale-leaseback deal was reported by CBRE, which represented Whirlpool in the transactions that involved a total of 3.1 million square feet of industrial space.
Four of the U.S. Whirlpool sites are located in Ohio—Marion, Findlay, Ottawa and Clyde—and one is in Cleveland, TN. Two properties are in Fabriano, Italy.
Bruce Westwood-Booth, Guy Ponticiello, Maury Vanden Eykel and Kyle Sals of CBRE represented Whirlpool in the transaction.
“We are seeing increased interest in sale-leasebacks from our clients with multi-continent real estate holdings, so firms with the capability to purchase geographically diverse portfolios have a distinct advantage,” says CBRE’s Westwood-Booth.
In 2019, CBRE advised Whirlpool on a sale-leaseback deal in Mexico that was the largest single asset and singe tenant industrial deal in the country’s history.