$20m in 'creative financing'.Investment firm W. P. Carey
Carey is the name of several places:
LLC - Logical Link Control has acquired a $20 million interest in a first mortgage secured by the distribution facilities of Atlanta, Georgia-based BlueLinx Holdings BlueLinx Holdings NYSE: BXC is a Fortune 1000 company based in Atlanta, Georgia. It is the largest building products wholesaler in the country. External links
The $20 million participation "C" represents the junior position in a $165 million five-year floating rate first mortgage loan against BlueLinx's real estate portfolio, which consists of 61 distribution centers located throughout 36 states. The transaction was completed on behalf of Corporate Property Associates 16--Global Incorporated, a member of the $7 billion W. P. Carey Group of income generating, publicly held, non-traded real estate investment trusts (REITs). Gordon F. DuGan, President of W. P. Carey, said, "This transaction is another example of our continued efforts to offer creative financing Creative Financing is a term used widely amongst real estate investors to refer to non-traditional means of real estate financing, or financing techniques not commonly used. solutions to companies seeking to utilize the capital invested in their real estate. "In addition to sale-leasebacks, we are pleased to announce this mortgage loan's successful completion and look forward to similar opportunities as we continue to expand our financing capabilities to the benefit of companies and our investors alike." |
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