The 18 facilities are located throughout Poland. They include 15existing operating retail stores--including its flagship inWarsaw--two stores under construction and one build-to-suit retailsite. OBI plans to use its sale proceeds to further expand itsfootprint throughout Central and Eastern Europe, where it alreadyoperates stores in Austria, Bosnia-Herzegovina, the Czech Republic,Germany, Hungary, Italy, Poland, Russia, Slovenia andSwitzerland.
OBI stores recorded overall sales of euro 6.6 billion in 2005.The company employs 30,000 people worldwide. WP Carey is making theinvestment on behalf of CPA:15 and CPA:16 - Global. CPA:16 - Globalwill own 25% of the portfolio, while CPA:15 will own the remaining75%. On behalf of its funds, WP Carey now manages 16 million sf inEurope and Asia.
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