LONDON, Nov. 12, 2014 /PRNewswire/ -- W. P. Carey Inc. (NYSE: WPC), a global net-lease REIT, announced today that it has completed a 20-year sale-leaseback transaction with Inghams Enterprises Pty. Limited (Inghams) in relation to a portfolio of 31 Australian industrial and agricultural properties for approximately AUD 157 million. Inghams is owned and managed by global private investment firm TPG.
Photo - http://photos.prnewswire.com/prnh/20141111/158007
Logo - http://photos.prnewswire.com/prnh/20130604/NY25517LOGO-b
Key Facts
Management Commentary
Grace Shui, Managing Director of W. P. Carey Asia, commented:
"The transaction with Inghams represents W. P. Carey's first investment in Australia and reflects our established position as a source of financing for creditworthy private equity-sponsored and privately held companies, as well as our strategy of owning and expanding a well-diversified real estate portfolio. Inghams is a market leader in the Australian food industry with a reputation as a high-quality brand that we are delighted to be partnering with."
Kevin McBain, CEO of Inghams, said:
"The transaction with W. P. Carey enables us to strengthen our balance sheet and accelerate our strategic growth plans. We are delighted to be partnering with W. P. Carey, who can provide a long-term commitment to our business and have a strong history in sale and leaseback transactions."
W. P. Carey Inc.
Please visit www.wpcarey.mediaroom.com for more information about W. P. Carey, to access our image and video libraries and to follow us on social media.
This press release contains forward-looking statements within the meaning of the Federal securities laws. The statements of Ms. Shui are examples of forward looking statements. A number of factors could cause W. P. Carey's actual results, performance or achievement to differ materially from those anticipated. Among those risks, trends and uncertainties are the general economic climate; the supply of and demand for office and industrial properties; interest rate levels; the availability of financing; and other risks associated with the acquisition and ownership of properties, including risks that the tenants will not pay rent, or that costs may be greater than anticipated. For further information on factors that could impact W. P. Carey, reference is made to its filings with the Securities and Exchange Commission.
Press contact:
Guy Lawrence
Ross & Lawrence
+1-212-308-3333
gblawrence@rosslawpr.com
Institutional investors:
Peter Sands
W. P. Carey Inc.
+1-212-492-1110
institutionalir@wpcarey.com