W. P. Carey Announces $17 Million Acquisition on Behalf of CPA:18 – Global

Posted by MiniCo on May 27, 2014 12:00:00 AM


W. P. Carey Inc. (NYSE: WPC), a global net-lease REIT specializing in corporate sale-leaseback financing, build-to-suit financing and the acquisition of single-tenant net-lease properties, announced today the acquisition of a headquarters and manufacturing facility and two manufacturing facilities on behalf of CPA ®:18 Global, one of its managed REITs. The three facilities, which total 362,000 square feet, are located in Georgia, Arizona, and Texas, respectively, and are leased to Janus International Group LLC (“Janus”) for a period of 20 years. The total acquisition price was approximately $17 million.

W. P. Carey Executive Director, Kathleen Barthmaier: “In the Janus transaction we combined our real estate and industry experience with our financial structuring expertise to address the specific needs of the company and its owners.  Our broad capabilities allow us to work with a range of owners and tenants in an array of sectors, including private equity firms and their portfolio companies. We tailor asset-based financings that support management’s business plans and enhance the companies’ financial platforms, providing a base for future growth and expansion.

“Given Janus’s leading position in the roll up door market, the criticality of the assets themselves and the sponsorship support of an established private equity firm, the investment had the characteristics we look for when sourcing investments for our portfolios.”

Scott Rivard, a Principal at Saw Mill Capital, said, “Janus is the clear leader in serving the growing self-storage and commercial door markets. Working together with the management team at Janus we are looking to build on the company’s proven high quality products and unmatched installation services to expand its market position in the U.S. and internationally.  The sale-leaseback financing with W. P. Carey positions us well for carrying out our strategic initiatives.”

About W. P. Carey Inc.

W. P. Carey Inc. is a leading global net-lease REIT that provides long-term sale-leaseback and build-to-suit financing solutions for companies worldwide. At March 31, 2014, the Company had an enterprise value of approximately $9.5 billion. In addition to its owned portfolio of diversified global real estate, W. P. Carey manages a series of non-traded REITs with assets under management of approximately $7.3 billion. Its 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. Furthermore, its portfolio of long-term leases with creditworthy tenants has an established history of generating stable cash flows, enabling it to deliver consistent and rising dividend income to investors for over four decades. www.wpcarey.com

(via PRNewswire)