W.P. Carey buy just what the doctor ordered.Investment firm W. P. Carey & Co. LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control has acquired and leased back a corporate headquarters building of HMS HMS abbr. Her (or His) Majesty's Ship HMS (Brit) abbr (= His (or Her) Majesty's Ship) → Namensteil von Schiffen der Kriegsmarine Healthcare, Inc., a private equity-owned holding company that owns and operates non-risk bearing Preferred Provider Organization pre·ferred provider organization n. Abbr. PPO A medical insurance plan in which members receive more coverage if they choose health care providers approved by or affiliated with the plan. (PPO PPO abbr. preferred provider organization PPO Managed care Preferred provider organization, see there Infectious disease Pleuropneumonia-like organism, see there ) networks with a strong presence in Michigan and Colorado. Benjamin P. Harris, Executive Director of W. P. Carey & Co. LLC, said, "This transaction is an excellent example of how private equity firms can maximize the value of their portfolio company's real estate assets. "Our flexibility and ability to customize this sale-leaseback transaction allowed us meet the specific financing needs of KRG KRG Kurdistan Regional Government KRG Key Resource Group (Los Angeles, California) KRG Killology Research Group KRG Knoxville Repeater Group Capital." Through its network of physicians, hospitals and other specialty healthcare providers, HMS facilitates the delivery of healthcare benefits to approximately 1.6 million people. HMS Healthcare, which is owned by Denver, Colorado based KRG Capital Partners, LLC and management, will guarantee the lease for $18.6 million. The transaction was completed 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, publicly held, non-traded real estate investment trusts (REITs). The 95,000 square foot office facility will be leased for an initial term of 20 years, followed by two ten-year renewal options. This latest acquisition adds to W. P. Carey's growing portfolio of managed properties in Michigan, which consists of more than five million square feet. The W. P. Carey Group owns properties throughout Michigan leased to Detroit Diesel Corporation, PETsMART Inc., SportsRack LLC, LifeTime Fitness, Collins & Aikman Products and Kerr Corporation. Mark King, Founder and Managing Director for private equity fund KRG Capital Partners, said, "W. P. Carey was an excellent partner during the entire sales process and we could not be happier with the outcome of the transaction. "W. P. Carey distinguished themselves by crafting a structure that maximized the value of the real estate asset without compromising our important business needs. "Moreover, during the due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. and closing process, W. P. Carey remained committed to working through complex issues that ultimately resulted in a win/win transaction for both parties." |
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