M&M dips its toes south of the border in $42m deal.Investment firm 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 seven industrial manufacturing facilities located 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. , Canada and Mexico, from MetoKote Corporation, a leading provider of protective coating applications, for approximately $42 million. This sale-leaseback transaction represents W. P. Carey's first investment in Mexico and its second in Canada. MetoKote is owned by JPMorgan Partners, a private equity unit of JPMorgan Chase JPMorgan Chase (NYSE: JPM TYO: 8634 ) is one of the oldest financial services firms in the world. The company, headquartered in New York City, is one of the leaders in investment banking, financial services, asset and wealth management and private equity. With assets of $1. & Co. The facilities are located in Peru, IL; Lima, Dayton and Cleveland, OH; Nashville, TN; Cambridge, Ontario
Cambridge , Canada; and Saltillo, Mexico. The facilities were acquired 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), a member of the $7 billion W. P. Carey Group of income generating real estate funds. Metokote will maintain operational control over the facilities for an initial period of 20 years, followed by two, ten-year renewal options. Gino Sabatini, a Director at W. P. Carey & Co. LLC, said, "This sale-leaseback reflects W. P. Carey's ability to complete multi-national real estate financing transactions. We were pleased to have completed this transaction as it represents our first investment in Mexico and enables Metokote to make better use of its real estate assets while providing further diversification Diversification A risk management technique that mixes a wide variety of investments within a portfolio. It is designed to minimize the impact of any one security on overall portfolio performance. Notes: Diversification is possibly the greatest way to reduce the risk. to CPA[R]:16--Global's portfolio of properties." John M. Warner, a Principal at J.P. Morgan Partners LLC, said, "W. P. Carey's ability to execute this complex, cross-border transaction has enabled Metokote to release capital tied up in real estate assets which will be used to continue Metokote's aggressive growth plan." |
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