W.P. Carey Acquires Property in Poland

W.P. Carey (NYSE: WPC  ) has ventured all the way to Central Europe for its latest acquisition. The company announced that one of its affiliates has purchased a distribution center operated by European clothing retailer H&M in the city of Poznan, Poland. The seller was Invesco Real Estate, and the price was roughly $85 million.

The center is an important facility for H&M, as it is that firm's distribution hub for the region. It is nearly 900,000 square feet in size, and is secured by a long-term, triple-net lease guaranteed by H&M.

These were key reasons why W.P. Carey made the deal. In the press release announcing the news, the company quoted its Managing Director Jeffrey Lefleur as saying, "We were attracted to the long-term income provided by the lease, the strong guarantee of H&M and the high quality of the property."


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2542840, ~/Articles/ArticleHandler.aspx, 10/25/2014 5:15:27 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement