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Share Name | Share Symbol | Market | Type |
---|---|---|---|
WP Carey Inc | NYSE:WPC | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.72 | -1.29% | 54.98 | 55.74 | 54.96 | 55.22 | 551,911 | 20:30:03 |
NEW YORK, Jan. 28, 2015 /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 it has acquired a portfolio of 73 automotive retail facilities located throughout the UK, net leased to Pendragon plc for a gross purchase price, including fees, of $355 million (£230.5 million).
Key Facts
Management Commentary
Jennifer Lucas, Executive Director of W. P. Carey, commented:
"We are delighted to have completed this transaction—our largest in the UK to date—with a landmark tenant in an exciting growing sector. Given the long lease terms and the diversity of the properties acquired, we believe the Pendragon auto dealership portfolio is a strong addition to the W. P. Carey Inc. portfolio."
Trevor Finn, Chief Executive, Pendragon, added:
"It is reassuring to have, in W. P. Carey, a long-term investor for a portfolio of our dealerships in the UK and we look forward to working together with them."
W. P. Carey Inc.
Please visit www.wpcarey.mediaroom.com for more information about W. P. Carey, to access our image and video libraries and to follow us on social media.
This press release contains forward-looking statements within the meaning of the Federal securities laws. The statements of Ms. Lucas are examples of forward-looking statements. A number of factors could cause W. P. Carey'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 W. P. Carey, reference is made to its filings with the Securities and Exchange Commission.
Media Contact:
Guy Lawrence
+ 1 212-308-3333
gblawrence@rosslawpr.com
Company Contact:
Kristina McMenamin
+ 1 212-492-8995
kmcmenamin@wpcarey.com
Institutional Investors:
Peter Sands
W. P. Carey Inc.
212-492-1110
institutionalir@wpcarey.com
Photo - http://photos.prnewswire.com/prnh/20150127/171745
Photo - http://photos.prnewswire.com/prnh/20150127/171744
Logo - http://photos.prnewswire.com/prnh/20130604/NY25517LOGO-b
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/w-p-carey-inc-closes-355-million-acquisition-of-73-property-pendragon-auto-dealership-portfolio-300026932.html
SOURCE W. P. Carey Inc.
Copyright 2015 PR Newswire
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