Seeking Alpha

W.P. Carey closes $110M sale-leaseback deal

  • W.P. Carey (WPC) lands another sale-leaseback deal with two of its non-traded REIT affiliates purchasing the State Farm Operation center in Austin. The price was about $110M and the lease to State Farm has an initial term of 15 years.
  • The facility is about 450K square feet located in a master-planned corporate park 10 miles northwest of downtown Austin. It's been Sate Farm's operation center since 1994.
  • Press release.
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