LONDON, UK / ACCESSWIRE / June 14, 2018 / If you want access to our free research report on W. P. Carey Inc. (NYSE: WPC), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=WPC as the Company's latest news hit the wire. On June 12, 2018, the Company announced that it has inked a deal with private developer Borghese Logistics Participaties II B.V. ("Borghese Logistics") to expand an existing logistics facility situated in the Port of Rotterdam area in The Netherlands. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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The facility is currently leased to Nippon Express Nederland B.V. ("Nippon"), which is the European subsidiary of third-party logistics provider Nippon Express Co. Ltd.

Deal Details

  • The expansion, a modern BREEAM and FM certified logistics facility, will provide approximately 350,903 square feet (32,600 square meters) of additional floor space to Nippon. Upon completion of the expansion, the building will total 1,118,919 square feet (103,951 square meters).
  • The 350,903 square feet of additional floor space will be divided into 338,918 square feet of warehouse and 14,321 square feet of office space.
  • The facility is located in the Maasvlakte submarket, which is the entry point to and one of the three main logistics submarkets of the Port of Rotterdam, Europe's largest port and logistics hub.
  • The development of the facility is likely to be completed by July 01, 2019. The expansion space will be leased to Nippon for a 10-year term with annual CPI rent escalations.

Development Agreement Demonstrates W. P. Carey's Commitment to Creating Long-Term Value for its Shareholders

Commenting on the announcement, Greg Butchart, Managing Director of W. P. Carey, stated that this development agreement demonstrates the Company's commitment to creating long-term value for its shareholders and supporting its tenants' growth strategies. Butchart added that W. P. Carey's ability to invest additional capital in the existing facility allowed it to meet Nippon's expansion needs while also investing in a sustainable asset. Leasing the additional space tailored to their needs on attractive economic terms enhances the value of the asset and makes the investment advantageous for all parties.

P. Carey Acquired Logistics Facility in Port of Rotterdam in 2015

In February 2015, the Company acquired the logistics facility in the Port of Rotterdam, The Netherlands, for approximately ?38 million ($43 million). The facility was net leased to Nippon and was purchased from the developer, Borghese Logistics. The modern 760,000 square-foot facility was completed in October 2014, and was constructed to high logistics specifications, earning the BREEAM certification for sustainability. The facility was also net leased for a 10-year term with annual CPI rent escalations.

About W. P. Carey Inc.

Founded in 1973 and headquartered in New York City, New York, W. P. Carey is a leading internally-managed net lease real estate investment trust (REIT) that provides long-term sale-leaseback and build-to-suit financing solutions primarily for companies in the US and Europe. In addition to its owned portfolio of diversified global real estate, W. P. Carey manages a series of investment programs.

Stock Performance Snapshot

June 13, 2018 - At Wednesday's closing bell, W. P. Carey's stock fell 1.88%, ending the trading session at $65.88.

Volume traded for the day: 258.32 thousand shares.

Stock performance in the last month ? up 0.75%; and previous three-month period ? up 6.43%

After yesterday's close, W. P. Carey's market cap was at $7.09 billion.

Price to Earnings (P/E) ratio was at 25.78.

The stock has a dividend yield of 6.16%.

The stock is part of the Financial sector, categorized under the REIT - Diversified industry.

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