X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

BISHOPBRIGGS, SCOTLAND-A fund of New York investment firm WP Carey & Co. has completed a sale-leaseback transaction here with the owner of a manufacturing facility. WP Carey’s CPA 16-Global fund paid Riverlake Partners LLC $12.2 million for the facility in exchange for a 20-year leaseback.

The transaction was part of a larger deal wherein WP Carey provided Riverlake Partners LLC, a private equity buyout fund, acquisition financing to complete its $30-million leveraged buyout of the tenant in the building, which was the Decorative Systems Division of Pressac plc, a UK-based public company.

Decorative Systems is one of the world’s largest supplies of the Decorative Systems Division of Pressac plc, a UK-based public company. Upon acquisition, Riverlake Partners has changed the name of the operation to Advanced Decorative Systems.

The manufacturing facility was completed in 2000. WP Carey says Riverlake Partners used the proceeds from the sale of the manufacturing facility to CPA 16-Global to complete the leveraged buyout.

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

Once you are an ALM digital member, you’ll receive:

  • 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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.