W. P. Carey & Co. has acquired a pair of German properties in Soest and Bad W\u00fcnnenberg from Arques Industries for approximately $58 million. Two of Carey\u2019s publicly held non-traded REIT affiliates,CPA:16 \u2013 Global and CPA:17 \u2013 Global, purchased the properties, which have been leased back to portfolio company Actebis under a triple net long-term lease. The Soest facility serves as Actebis\u2019 global headquarters and the Bad W\u00fcnnenberg property serves as a logistics facility for the company. \u201cWe\u2019ve done about a half-billion Euros in Germany in the last few years. We\u2019re familiar with the market,\u201d Jeffrey Lefleur, executive director of W. P. Carey & Co., told CPN today. \u201cIt is a good place to perform long-term sale-leaseback financing for companies looking to grow their businesses.\u201d \u201cWe are seeing demand in Western Europe, when lenders are shying back from lending,\u201d Lefleur (pictured) added. \u201cWe\u2019re seeing similar credit crises in Europe, not as drastic as here in the U.S., but certainly the enthusiasm of European lenders has been significantly reduced as a result of the U.S. credit crisis. That provides us with an opportunity to step in with credit financing.\u201d Lefleur said this deal was initially attractive because of the opportunity to work with private equity firm Actebis. \u201cIf we can extend a relationship with them, it is always a good opportunity for us to work with them in the future with their portfolio companies,\u201d he said. \u201cThe second thing we liked is that we have traditionally been a buyer of more industrial properties in Germany and this was a good opportunity to pick up a good office property and a very modern logistics property.\u201d On June 16, the company announced plans to open a second European office in Amsterdam to establish a base there for the management of its growing European property portfolio. Actebis is Europe\u2019s third largest wholesale distributor of IT goods and services. Actebis sells 84,000 different products, predominantly personal computers and computer devices to businesses and corporations throughout Europe. W. P. Carey & Co. provides long-term sale-leaseback and build-to-suit financing for companies worldwide and manages a global investment portfolio worth more than $10 billion, with assets under management in Europe approaching $3 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"
W. P. Carey & Co. has acquired a pair of German properties in Soest and Bad W\u00fcnnenberg from Arques Industries for approximately $58 million. Two of Carey\u2019s publicly held non-traded REIT affiliates,CPA:16 \u2013 Global and CPA:17 \u2013 Global, purchased the properties, which have been leased back to portfolio company Actebis under a triple net long-term…<\/p>\n","protected":false},"author":1314,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37301],"tags":[],"class_list":["post-1003827637","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"yoast_head":"\n