WP Carey Announces $33M Purchase of Four Texas Self Storage Properties
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, has acquired four self storage facilities in western Texas. The properties comprise a total of 361,490 square feet and are located in Midland and Odessa. The total purchase price of the properties, which will be managed by CubeSmart (NYSE: CUBE), was approximately $33 million. Financing of $19.5 million was provided through a mortgage with Wells Fargo.
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