UniCredit has provided a €69.8 million 7-year long-term refinancing facility for CPA¨:17 – Global, one of W. P.Carey Inc.’s publicly held non-traded REIT affiliates. The proceeds will be used to partially refinance the purchase price paid for the acquisition of the logistics properties that W. P. Carey bought in a sale and lease back structure.
The portfolio, with total GLA of over 208,800 sqm, consists of four logistics parks, two located in Poland, one in Slovakia and one in Czech Republic. The buildings are fully leased with 10 year lease agreements.
The transaction was closed on 23rd of December 2015.
Lukasz Motyl, Managing Director, and Eva Bohler, Director of Real Estate Finance CEE in UniCredit Bank Austria AG, noted, “We are very pleased to have worked with W. P. Carey, we are looking forward to supporting their business in the Central Eastern Europe region also in the future. UniCredit Group is an active player at RE Finance in the CEE region with a strong commitment and a long-term strategy for each market. The transaction increased our financing over logistic portfolio in Central Europe.”
Jeffrey Lefleur, Managing Director of W. P. Carey in Europe, noted: “W. P. Carey appreciates UniCredit’s support of CPA¨:17 – Global’s activities in the CEE region and we look forward to additional opportunities to work with them.”