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FORT COLLINS, CO-On behalf of one of its funds, W. P. Carey & Co. LLC has acquired a 65,000-sf pharmaceutical manufacturing facility here for $13.6 million. Located at 701 Centre Ave., the facility is fully leased to the seller, Tolmar Inc.

The property was acquired on behalf of Corporate Property Associates 16 – Global Incorporated. Tolmar occupies the building under a long-term, triple-net lease, according to W.P. Carey.

Tolmar used the proceeds to finance its acquisition of the majority of the US assets of QLT Inc., a Canadian biopharmaceutical company. Tolmar is using QLT to enter the US market with manufacturing capabilities in multiple drug areas.

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