W. P. Carey announces €31m acquisition of Innovation Centre in the Netherlands
LONDON, July 15, 2013
LONDON, July 15, 2013 /PRNewswire/ -- W. P. Carey Inc. (NYSE: WPC ), a real
estate investment trust ("REIT") specializing in corporate sale-leaseback
financing , build-to-suit construction financing and the acquisition of
single-tenant net-lease properties, announced today that CPA®:17 - Global, one
of its publicly held non-traded REIT affiliates, has acquired the new European
Innovation Centre of Royal FrieslandCampina in the Netherlands. The total
acquisition cost of the facility was approximately €31 million.
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Royal FrieslandCampina is the fourth largest dairy company in Europe and the
fifth largest in the world. The company employs approximately 20,000 personnel
across 28 countries and generated €10.3 billion in revenue in 2012.
Construction of the new facility was completed in July 2013 by development and
construction company, Hurks. Situated on the campus of the Wageningen
University and Research Centre, the facility is located within a region known
as the Dutch "Food Valley," where many international food companies, as well
as life science, bio-science, and agribusiness R&D, is concentrated.
Jeffrey Lefleur , Managing Director of W. P. Carey, said: "The transaction
marks our second deal in the Netherlands this year overall and supports our
business model of acquiring critical operating assets on long-term,
Kees Gielen, Chief Financial Officer of RFC, said: "Hurks has successfully
developed our new Innovation Centre, and we look forward to the cooperation
with CPA®:17 - Global as the new landlord. This will allow us to achieve a
significant consolidation of our European R&D into a single location."
W. P. Carey Inc. Celebrating its 40th anniversary, W. P. Carey Inc. is a
publicly traded REIT (NYSE: WPC) that provides long-term sale-leaseback and
build-to-suit financing for companies worldwide and owns and manages an
investment portfolio totaling approximately $15.2 billion. Active in Europe
since 1998, European assets comprise approximately $3.6 billion (€2.7 billion)
of its global portfolio. The largest owner/manager of net lease assets, WPC's
corporate finance-focused credit and real estate underwriting process is a
constant that has been successfully leveraged across a wide variety of
industries and property types. Its portfolio of long-term leases with
creditworthy tenants has an established history of generating stable cash
flows that have enabled WPC to deliver consistent and rising dividend income
to investors for nearly four decades. www.wpcarey.com
This press release contains forward-looking statements within the meaning of
the Federal securities laws. The statements of Mr. Lefleur are examples of
forward looking statements. A number of factors could cause the CPA®:17 –
Global's actual results, performance or achievement to differ materially from
those anticipated. Among those risks, trends and uncertainties are the general
economic climate; the supply of and demand for office and industrial
properties; interest rate levels; the availability of financing; and other
risks associated with the acquisition and ownership of properties, including
risks that the tenants will not pay rent, or that costs may be greater than
anticipated. For further information on factors that could impact CPA®:17 –
Global , reference is made to CPA®:17 – Global's filings with the Securities
and Exchange Commission.
For W. P. Carey Inc.
Lucy Miles/ Dan de Belder/ Guy Scarborough
Guy Lawrence, Ross & Lawrence
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