Sale-leaseback with leading “DIY” retailer in the Netherlands
W. P. Carey funds a portion of the capital stack for corporate M&A transaction
In 2018, W. P. Carey completed a $178 million sale-leaseback of a 36-property retail portfolio with Intergamma, the leading DIY retailer in the Netherlands with a history dating back more than 85 years. The portfolio is located across the Netherland’s three largest cities – Amsterdam, Rotterdam and The Hague and comprises over 1.5 million square feet. Proceeds from the transaction were used to fund a portion of the capital stack for an initial corporate acquisition and provided ongoing capital for Intergamma’s future acquisitions and planned construction and expansion projects.
"We are pleased to have W. P. Carey as our long-term landlord. Now is an exciting time in the history of Intergamma and as we look to progress our own business strategy, I take comfort in knowing W. P. Carey has the financial resources and team to support our current and future real estate needs."