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W.P. Carey Pays $145M in Sale-Leaseback Deal

W.P. Carey Inc., headquartered in New York, struck a sale-leaseback deal with Toronto-based ABC Group Inc. to acquire a portfolio of 10 industrial facilities and one office property in the United States and Canada. Part of the $145 million transaction includes a sale-leaseback agreement for the acquisition of four more industrial facilities currently under construction in Mexico.

The sale-leaseback transaction covers approximately 2.4 million square feet of vertically integrated manufacturing facilities, representing most of ABC’s North American footprint. The portfolio is being leased on a triple-net basis under master leases by country for 20 years.

ABC is a supplier of molded thermoplastic components and systems to the automotive industry’s original equipment manufacturers (OEMs). Cerberus Capital Management LP acquired ABC earlier this year.

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About Mark El-Rayes

Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.

  • ◦Sale/Acquisition
  • ◦Sale/Acquisition
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