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PR Newswire

W. P. Carey Inc. Acquires $62.9 Million Stern Group Auto Dealership Portfolio

W. P. Carey Inc. entered into a sale-leaseback transaction for a portfolio of 10 automotive retail and service sites in the Netherlands with Stern Groep N.V., for approximately $62.9 million. The portfolio is triple-net leased for a 17-year period and includes full Dutch CPI annual rent escalations.NEW YORK, Nov. 11, 2015 /PRNewswire/ -- W. P. Carey Inc. (NYSE: WPC), a real estate investment trust specializing in corporate sale-leaseback and build-to-suit financing, and the acquisition of single-tenant net lease properties, announced today that it has entered into an...