W.P. Carey acquires Finnish properties.

Investment firm W. P. Carey & Co. LLC has provided financing to John Nurminen Oy, a 119-year-old Finnish company that provides logistics and related transport services to companies in Finland, Russia and the Baltic region, through the sale-teaseback of its two warehouse/logistics facilities located in the Port of Kotka, Finland.

W. P. Carey, on behalf of its affiliated income generating real estate fund Corporate Property Associates 16--Global (CPAr:16--Global), acquired the facilities which will be leased back under a 15-year triple-net lease.

This latest acquisition adds to W. P. Carey's rapidly growing portfolio of managed properties throughout Europe and Asia consisting of more than 15 million square feet.

Including this recent transaction, over the past ten months the W. P. Carey Group has invested approximately $436 million outside the United States including investments with: J McGavigan Limited (Scotland); Carrefour (France); Hellweg Die Profi-Baumarkte GmbH & Co. KG, (Germany); Integrated Distribution Systems (Thailand); Metokote Corporation (Canada and Mexico) and Pohjola Non-Life Insurance Company Ltd. (Finland). This represents an approximate $182 million increase in investment volume over the same period in 2004.

Edward V. LaPuma, President of W. P. Carey International LLC, said, "This sale-leaseback will enable John Nurminen to fund future growth initiatives and maintain its position as one of the leading logistics and transport service providers in the Baltic region. We are pleased to have completed this transaction as we continue to grow our portfolio of Finnish properties and look forward to serving John Nurminen's future financing needs."

Kenneth Huomo, Director of John Nurminen Oy said, "John Nurminen is going through an interesting stage of development, which means among other things acquisitions. By releasing capital tied up in the real estates, we create a possibility to be more aggressive in our operational development."