{"id":1004122226,"date":"2015-06-30T05:58:47","date_gmt":"2015-06-30T13:58:47","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004122226"},"modified":"2022-12-08T11:38:21","modified_gmt":"2022-12-08T19:38:21","slug":"w-p-carey-shows-retail-some-love","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/w-p-carey-shows-retail-some-love\/","title":{"rendered":"W.P. Carey Shows Retail Some Love"},"content":{"rendered":"

By Barbra Murray, Contributing Editor<\/em><\/p>\n

\"Gino<\/a>

Gino Sabatini, W.P. Carey<\/p><\/div>\n

A 1\u00a0million-square-foot collection of retail assets has made its way into the portfolio of CPA: 17\u2013Global. The non-traded REIT, managed by net lease REIT W. P. Carey, recently acquired six Midwestern retail properties from The Bon-Ton Stores Inc. in an $88 million sale-leaseback transaction.<\/p>\n

This is not W.P. Carey\u2019s first endeavor with Bon-Ton. The companies\u2019 relationship dates back to 1997 when CPA: 12 Inc. purchased land, a distribution center and a retail store in Pennsylvania from Bon-Ton for $12 million.<\/p>\n

\u201cThe transaction allowed us to expand our relationship with Bon-Ton with the inclusion of these properties in CPA: 17\u2019s portfolio while also providing sale-leaseback financing to Bon-Ton,\u201d Gino Sabatini, a managing director with W. P. Carey, told Commercial Property Executive<\/em>. \u201cBy unlocking the value in these corporate assets it provided funding for the repayment of a portion of their existing mortgage facilities.\u201d<\/p>\n

\"CPA<\/a>

CPA 17 – Global Bon-Ton Stores<\/p><\/div>\n

The retail assets span three states, with three properties located in metropolitan Milwaukee; one in suburban Green Bay, Wisc.; and one each in Joliet, Ill., and Fargo, N.D. An affiliate of Bon-Ton leases the stores under a 20-year agreement that provides the apparel and home furnishings department store with three renewal options. The portfolio has it all: a strong tenant, anchor positions at high-quality malls or lifestyle centers and the all-important promise of steady cash flow.<\/p>\n

\u201cAs significant long-term assets for Bon-Ton, [the properties] are an attractive income-generating addition to our portfolio in the context of a deal structure that provided a mutually beneficial solution for both Bon-Ton and CPA: 17–Global,\u201d Sabatini added. Bon-Ton will utilize proceeds from the sale-leaseback to refinance the six properties, which comprise a small portion of the department store\u2019s 270-property portfolio of stores, furniture galleries and clearance centers across 26 states.<\/p>\n

    \n
  1. W.P. Carey has been having an activity-filled year through its managed REITs. In May and June alone, CPA: 18\u2013Global made four other moves, including the $29 million funding of the construction of a 207-room hotel in Hamburg, Germany, and another transaction in Germany involving $85 million in financing for the completion of a 290-key hotel in Munich<\/a><\/u>. CPA: 18 also snapped up a 208,900-square-foot Minnesota warehouse and distribution facility leased by Core-Mark International in a $17 million sale-leaseback, and acquired a 335,700-square-foot multi-tenant retail site in Oslo, Norway<\/u>,<\/a> for approximately $105 million. And the year is only half over.<\/li>\n<\/ol>\n

     <\/p>\n

     <\/p>\n","protected":false},"excerpt":{"rendered":"

    A 1 million-square-foot collection of retail assets has made its way into the portfolio of a non-traded REIT managed by W. P. Carey.<\/p>\n","protected":false},"author":969,"featured_media":1004122228,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,21749],"tags":[],"class_list":["post-1004122226","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-retail"],"acf":[],"yoast_head":"\nW.P. Carey Shows Retail Some Love - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/w-p-carey-shows-retail-some-love\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"W.P. Carey Shows Retail Some Love\" \/>\n<meta property=\"og:description\" content=\"A 1 million-square-foot collection of retail assets has made its way into the portfolio of a non-traded REIT managed by W. P. Carey.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/w-p-carey-shows-retail-some-love\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-06-30T13:58:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T19:38:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Gino-Sabatini-W.-P.-Carey.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"226\" \/>\n\t<meta property=\"og:image:height\" content=\"207\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/w-p-carey-shows-retail-some-love\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/w-p-carey-shows-retail-some-love\\\/\"},\"author\":{\"name\":\"Barbra Murray\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d1edda962dd3af55af8a203870f9fc32\"},\"headline\":\"W.P. Carey Shows Retail Some Love\",\"datePublished\":\"2015-06-30T13:58:47+00:00\",\"dateModified\":\"2022-12-08T19:38:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/w-p-carey-shows-retail-some-love\\\/\"},\"wordCount\":420,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/w-p-carey-shows-retail-some-love\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/06\\\/Gino-Sabatini-W.-P.-Carey.jpg\",\"articleSection\":[\"Investment\",\"News\",\"Retail\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/w-p-carey-shows-retail-some-love\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/w-p-carey-shows-retail-some-love\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/w-p-carey-shows-retail-some-love\\\/\",\"name\":\"W.P. Carey Shows Retail Some Love - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/w-p-carey-shows-retail-some-love\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/w-p-carey-shows-retail-some-love\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/06\\\/Gino-Sabatini-W.-P.-Carey.jpg\",\"datePublished\":\"2015-06-30T13:58:47+00:00\",\"dateModified\":\"2022-12-08T19:38:21+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d1edda962dd3af55af8a203870f9fc32\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/w-p-carey-shows-retail-some-love\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/w-p-carey-shows-retail-some-love\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/w-p-carey-shows-retail-some-love\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/06\\\/Gino-Sabatini-W.-P.-Carey.jpg\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/06\\\/Gino-Sabatini-W.-P.-Carey.jpg\",\"width\":226,\"height\":207,\"caption\":\"Gino Sabatini, W.P. Carey\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/w-p-carey-shows-retail-some-love\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"W.P. Carey Shows Retail Some Love\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d1edda962dd3af55af8a203870f9fc32\",\"name\":\"Barbra Murray\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g\",\"caption\":\"Barbra Murray\"},\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/barbra-murray\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"W.P. Carey Shows Retail Some Love - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/w-p-carey-shows-retail-some-love\/","og_locale":"en_US","og_type":"article","og_title":"W.P. Carey Shows Retail Some Love","og_description":"A 1 million-square-foot collection of retail assets has made its way into the portfolio of a non-traded REIT managed by W. P. Carey.","og_url":"https:\/\/www.commercialsearch.com\/news\/w-p-carey-shows-retail-some-love\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2015-06-30T13:58:47+00:00","article_modified_time":"2022-12-08T19:38:21+00:00","og_image":[{"width":226,"height":207,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Gino-Sabatini-W.-P.-Carey.jpg","type":"image\/jpeg"}],"author":"Barbra Murray","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/w-p-carey-shows-retail-some-love\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/w-p-carey-shows-retail-some-love\/"},"author":{"name":"Barbra Murray","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32"},"headline":"W.P. Carey Shows Retail Some Love","datePublished":"2015-06-30T13:58:47+00:00","dateModified":"2022-12-08T19:38:21+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/w-p-carey-shows-retail-some-love\/"},"wordCount":420,"commentCount":0,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/w-p-carey-shows-retail-some-love\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Gino-Sabatini-W.-P.-Carey.jpg","articleSection":["Investment","News","Retail"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.commercialsearch.com\/news\/w-p-carey-shows-retail-some-love\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/w-p-carey-shows-retail-some-love\/","url":"https:\/\/www.commercialsearch.com\/news\/w-p-carey-shows-retail-some-love\/","name":"W.P. Carey Shows Retail Some Love - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/w-p-carey-shows-retail-some-love\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/w-p-carey-shows-retail-some-love\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Gino-Sabatini-W.-P.-Carey.jpg","datePublished":"2015-06-30T13:58:47+00:00","dateModified":"2022-12-08T19:38:21+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/w-p-carey-shows-retail-some-love\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/w-p-carey-shows-retail-some-love\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/w-p-carey-shows-retail-some-love\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Gino-Sabatini-W.-P.-Carey.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Gino-Sabatini-W.-P.-Carey.jpg","width":226,"height":207,"caption":"Gino Sabatini, W.P. Carey"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/w-p-carey-shows-retail-some-love\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"W.P. Carey Shows Retail Some Love"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32","name":"Barbra Murray","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g","caption":"Barbra Murray"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/barbra-murray\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Gino-Sabatini-W.-P.-Carey.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004122226","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/969"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004122226"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004122226\/revisions"}],"predecessor-version":[{"id":1004615635,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004122226\/revisions\/1004615635"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004122228"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004122226"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004122226"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004122226"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}