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News Breaks | | | | September 19, 2012 | | 08:03 EDT |  | WPC | W. P. Carey announces $66M acquisition of automotive dealership portfolio
W. P. Carey announced that CPA:17 - Global, one of its publicly held non-traded REIT affiliates, has acquired a portfolio of nine automotive dealerships totaling approximately 380,000 square feet. Three properties are located in Alabama, two in Missouri, and one each in Tennessee, Arkansas, Texas and Louisiana. The portfolio dealerships sell and service market leading brands such as Mercedes Benz, Nissan, Chevrolet, Toyota, Scion, Dodge, Chrysler and Jeep. The total purchase price was approximately $66M. The facilities will be leased back to RLJ-McLarty-Landers Automotive Holdings LLC on a triple net basis for a term of 16 years. The acquisition is the first investment completed through a strategic partnership with CapRocq Automotive, LLC, formed for the purpose of executing a series of real estate sale-leaseback transactions in the automotive dealership industry. | |
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| May 13, 2013 | | 08:21 EDT | | WPC | W.P. Carey says CPA:18-Global REIT commences $1B offering
W. P. Carey announced that the registration statement for Corporate Property Associates 18 - Global ,or CPA:18 - Global, a new publicly-registered non-traded REIT offering that seeks to build a global portfolio of income-generating commercial properties and real estate-related assets, has been declared effective by the Securities and Exchange Commission. CPA:18 - Global has commenced a capital raise of up to $1B, W. P. Carey said. | |
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