Build-to-suit of industrial facility in Poland
W. P. Carey provides build-to-suit financing for mission-critical industrial facility
Description: Ontex is a leading global supplier of personal hygiene products with over 10,000 employees globally.
Total Investment: $38 million
Transaction Type: Build-to-suit*
Square Footage: 740,000 square feet
Facility Type: Modern, mission-critical industrial facility
In 2017, W. P. Carey agreed to provide approximately $15 million in build-to-suit financing for a critical, modern industrial facility leased to Ontex, a leading global supplier of personal hygiene products with over 10,000 employees globally. Upon completion, the facility was triple-net leased to Ontex for a term of 15 years with annual euro CPI-based rent escalations.
In 2022, W. P. Carey completed a 460,000-square-foot expansion of the facility, allowing Ontex to relocate productions lines from Germany and Czech Republic to this facility, making it one of the largest and most critical facilities for Ontex globally. In 2023, the expanded portion of the facility received a BREEAM Very Good rating for its environmental features.
*In a build-to-suit, W. P. Carey funds and manages the construction of a new facility or the expansion of an existing one custom built to meet the unique specifications of a prospective or existing tenant. Upon completion of construction, the company enters into a long-term net lease with W. P. Carey, while securing full operational control of the new or expanded facility.