W.P. Carey buys seven facilities for $90m.

Investment firm W. P. Carey & Co. LLC announced that, on behalf of its affiliated income generating real estate investment trusts (REITs), it recently acquired seven facilities, totaling more than 1.2 million square feet in seven states, for more than $90.7 million.

Among the transactions funded on behalf of Corporate Properties Associates 15 Incorporated (CPA[R]:15), part of the $6.4 billion W. P. Carey Group of publicly held, non-traded REITs were:

* The $7.2 million acquisition of two manufacturing facilities from a leading manufacturer of metal components for the automotive industry. The facilities, located in Mentor, OH and Franklin, TN, total 253,000 s/f and will be leased under a 20-year triple net lease followed by two, ten-year renewal options.

* The $8.7 million acquisition of the corporate headquarters of a leading air carrier in the U.S. Located in Peachtree City, GA, the 57,507 s/f facility will be leased for 15-years followed by two, ten-year renewal options.

* The $28.6 million build-to-suit financing of a warehouse/distribution facility located in Omaha, NE. The 550,000 s/f facility will be leased to a leading direct marketer under a 20-year triple net lease followed by four, five-year renewal options.

* The $32.5 million acquisition of the corporate headquarters of a consumer products company located in California. The facility will be leased under a 20-year triple net lease followed by two, ten-year renewal options.

Corporate Properties Associates 16--Global Incorporated (CPA[R]: 16--Global), also a member of the W. P. Carey Group, funded the following transaction:

* The $13.7 million acquisition of the corporate headquarters and principal facilities of a leading designer, manufacturer and marketer of floor and carpet maintenance equipment. The facilities, totaling more than 233,000 s/f, are located in Englewood, CO and Chandler, AZ and will be leased under a 20-year triple net lease followed by four, five-year renewal options.

Gordon F. DuGan, President and Co-Chief Executive Officer of W. P. Carey, said, "These recent transactions reflect the continued interest among companies and private equity firms throughout the United States in securing capital through W. P. Carey.

"Our capacity to work with a variety of industries, in various geographic regions, is another example of our ability to create corporate finance solutions. We are pleased to have provided the acquisition, recapitalization and build-to-suit financing for these transactions as they offer excellent examples of how the sale-leaseback can complement any corporate financing need."