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In a build-to-suit transaction, W. P. Carey funds the construction of a new facility or the expansion of an existing one to meet the specifications of a prospective or existing tenant. Upon completion, the tenant enters into a long-term net lease, while retaining full operational control of the custom-built facility.
Build-to-suits enable a prospective or existing tenant to:
Build-to-suits can benefit the prospective tenant in several ways. See below for build-to-suit examples.
"Working in coordination with W. P. Carey, we were able to execute on a plan that efficiently addresses our expanding operations. The long-term investment from W. P. Carey will enable us to fund our long-term operational needs with a new global food processing facility. Our ongoing relationship and positive experience working with W. P. Carey on the original financing of our Virginia facility made them the obvious capital partner for this transaction."
Stanislas Vilgrain
Chairman and CEO, Cuisine Solutions
Build-to-suit proceeds funded a new state-of-the-art food production facility, enabling an existing tenant to increase production capacity amid growing customer demand.
| Build-to-Suit Funding | $75 million |
| Property Details | Food production facility |
| Location | U.S. (Texas) |
| Square Footage | 290,000 |
Build-to-suit proceeds enabled an existing tenant to construct new dorms, athletic centers and renovate classrooms at its existing facilities acquired by W. P. Carey.
| Build-to-Suit Funding | $128 million |
| Property Details | Three education facilities |
| Location | U.S. (Florida and Texas) |
| Square Footage | 592,000 |
Build-to-suit proceeds funded a new, Class-A office facility, enabling Banco Santander to consolidate several offices and expand in Germany.
| Build-to-Suit Funding | €53 million ($59 million) |
| Property Details | Class-A office facility |
| Location | Germany |
| Square Footage | 184,000 |
W. P. Carey Inc. (NYSE: WPC), one of today’s largest diversified net lease REITs, provides long-term sale-leaseback and build-to-suit capital solutions primarily for companies in the U.S. and Northern and Western Europe. We are well positioned with the capital and experience needed to maximize efficiency and ensure certainty of close on complex, single and multi-country deals that meet our investment criteria.
Portfolio data is as of December 31, 2019.
