Carey completes medical facility sale-leaseback.ST. CHARLES Charles, archduke of Austria Charles, 1771–1847, archduke of Austria; brother of Holy Roman Emperor Francis II. Despite his epilepsy, he was the ablest Austrian commander in the French Revolutionary and Napoleonic wars; however, he was handicapped by , MO: Investment firm W. P. Carey & Co. announced that it has completed the acquisition of an approximate 103,000 s/f medical office facility in St. Charles, Missouri Missouri, state, United States Missouri (mĭz  r`ē, –ə), one of the midwestern states of the United States. .
The $21.6 million purchase was made on behalf of W.P. Carey's affiliated income generating real estate fund, 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). The property is leased under a long term triple net lease to an affiliate of Cetero Research Cetero Research specializes in early clinical research and bioanalysis. Cetero provides practical solutions for Bioequivalence, Cardiac Safety, Dermatology, Bioanalytical and Labeling support studies. , a clinical research organization providing early clinical and bio-analytical research services for the pharmaceutical and biotechnology industries. Cetero is a platform company of KRG KRG Kurdistan Regional Government KRG Key Resource Group (Los Angeles, California) KRG Killology Research Group KRG Knoxville Repeater Group Capital Partners, a Denver-based private equity firm. Benjamin P. Harris, managing director at W. P. Carey, said, "Sale-leaseback financing works well in conjunction with private equity transactions. "In this case, the private equity investors have been building on Cetero's CRO platform through a series of acquisitions of established CRO firms. The sale-leaseback financing provided a low-cost and efficient source of capital to fund their acquisition." |
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