Deals
W.P. Carey Acquires 20 Italian Store Fund for $408 Million
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W.P. Carey & Co., a specialist in sale-and-leaseback deals, acquired a fund that owns 20 wholesale stores in Italy from Metro AG in a transaction valued at 300 million euros ($408 million).
The purchase includes the assumption of about 180 million euros of loans secured by the properties and provided by Italian and French lenders, New York-based W.P. Carey said today in an e-mailed statement. Metro, Germany’s largest retailer, disclosed the sale in a separate statement.