WP Carey Announces First Japanese Transaction
W. P. Carey Inc. (NYSE: WPC), a real estate investment trust ("REIT"), announced today that CPA(R):17 - Global, one of its publicly held non-traded REIT affiliates, and a subsidiary of W. P. Carey have acquired a warehouse and distribution center as well as the 32 acres of land under the two adjacent buildings and the surrounding site that comprise a document/media storage campus located in Saitama Prefecture, Japan. The two facilities acquired are leased to Wanbishi Archives Co., Ltd. ("Wanbishi"). The purchase price for the land and two buildings was approximately $55 million. Financing was provided through a mortgage with Mitsubishi UFJ Lease & Finance. Wanbishi is the largest information/document management company in Japan.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.