Carey's $58m sale-leaseback.W. P. Carey & Co. LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control announced that it acquired and leased back five boat fabrication fabrication (fab´rikā´sh  n),n the construction or making of a restoration. , storage and servicing facilities from one of the premier yacht building and servicing businesses in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. for $58.1 million. The facilities, totaling approximately 473,000 s/f, will be leased for an initial period of 25 years, followed by two five-year and two ten-year renewal options. W. P. Carey completed the transaction on behalf of Corporate Property Associates 16--Global Incorporated (CPA (Computer Press Association, Landing, NJ) An earlier membership organization founded in 1983 that promoted excellence in computer journalism. Its annual awards honored outstanding examples in print, broadcast and electronic media. The CPA disbanded in 2000. [R]: 16--Global) and Corporate Property Associates 15 Incorporated (CPA[R]:15), both members of the $7 billion W. P. Carey Group of income-generating real estate funds. Anne Coolidge Taylor, Managing Director at W. P. Carey & Co. LLC, said, "This sale-leaseback transaction reflects W. P. Carey's ability to meet the financing needs of companies no matter how specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. their industry. "In this transaction, the company was able to convert their underlying real estate assets into capital to pay down debt, thus creating a stronger balance sheet and an improved financial structure. We are proud of this new partnership and are pleased to have this company as a tenant." |
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