WP Carey completes $137m in sale-leaseback financing.

Announcing $137M in sale lease-back transactions, Gordon F. DuGan, President and Co-Chief Executive Officer of W. P. Carey, said companies are taking advantage of low interest rates to strengthen their balance sheets before year-end.

"With interest rates at historically low levels companies are realizing that now is a great time to lock in long-term financing," said DuGan.

"We're currently looking to invest more than $2 billion with companies seeking to grow and expand their businesses. The additional capital they receive from a sale-leaseback with W. P. Carey could provide them the funding necessary to eliminate debt, fund acquisitions or take their public company private."

W.P. Carey's latest deals involve six companies, 15 facilities and 2.8 million s/f across the US.

Among the transactions funded on be-half of the $5 billion W. P. Carey Group, which includes the Corporate Property Associates series of income generating, publicly held, non-traded real estate investment trusts (REITs), were:

* The $33.6 million acquisition of four manufacturing facilities located in Alsip, Illinois (2), Tolleson, Arizona and Geddes, New York, from one of the world's leading manufacturers and suppliers of rigid plastic packaging products. In addition, the W. P. Carey Group will fund the $3 million construction of an extension to the Tolleson, Arizona facility.

* The purchase of five office, manufacturing and warehouse facilities for $29.3 million from a leading manufacturer of injection molded precision plastic products. The facilities, which total more than 616,000 square feet, are located in Buffalo Grove, Illinois; Excelsior Springs, Missouri; Pittsburgh, Pennsylvania; St. Petersburg, Florida and West Lafayette, Indiana. Under the terms of the lease, the company

* The $28.3 million acquisition of two facilities located in Atlanta, Georgia and Bel Air, Maryland from a leading health/fitness provider. The facilities, which total more than 186,000 square feet, will be leased for an initial term of 20 years followed by three, ten-year renewal options.

* The $20.5 million (US) purchase of a warehouse/distribution facility in Nimes, France from one of Europe's largest retailers. The 313,000 square foot facility will be leased initially for nine years.

* The acquisition of two light-manufacturing facilities located in Port Huron and Shelby Township, Michigan for $11.5 million from a leading designer, manufacturer and supplier of roof rack and towing systems. The 294,000 square foot facilities will be leased for an initial 20-year term with two, ten-year renewal options.

* The $10.8 million (US) acquisition of a warehouse / distribution center in West Midlands, United Kingdom from a leading warehouse and distribution service provider. The facility, totaling 120,600 s/f, will be leased for 30 years.

TOP CLASS--Esther Muller (left), The Real Estate Academy's president and master teacher, presents an Honorary Professorship to industry leader, Faith Hope Consolo, vice chairman, Garrick-Aug Worldwide, Ltd. The presentation took place at the Academy's recent seminar, where Consolo was a featured guest lecturer. Over 150 real estate professionals attended the class and provided a standing ovation when the announcement was made. Consolo joins Barbara Corcoran, chairman, The Corcoran Group, Peter Marra, president, William B. May Company, Alan Rogers, chairman, Douglas Elliman International, and the late Lewis Rudin of Rudin Management, as a Real Estate Academy Honorary Professor.