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Investor Confidence Returns
This year’s EXPO Real in Munich brought together real estate professionals from over 70 countries, eager to assess the market’s trajectory as we head into 2026. After a turbulent stretch marked by volatile interest rates and macroeconomic headwinds, signs of stabilization have surfaced, bringing optimism to the market. Amid this backdrop, three standout themes emerged: Investment Activity Stabilizing After several years of volatility, investment activity is finally stabilizing. According to Savills, European real estate investment volumes reached €130 billion for Q1-Q3 2025, a 1.5% year-over-year increase. This activity is being driven primarily by improving cap-rate spreads, a narrowing price gap between buyers and sellers and a steadier Eurozone backdrop. With a growing number of sizeable assets and portfolios hitting the market – and investor appetite rebounding – we anticipate an uptick in deal volume as we finish out the year and enter 2026. New Sectors Gaining Steam As Europe’s real estate market steadies amid rate cuts, investors are turning toward new growth sectors. At the forefront are data centers, which have surged in popularity due to the exponential rise of AI and cloud services. New energy infrastructure – including real estate tied to renewables and grid modernization – is also attracting capital, driven by the continent’s aggressive decarbonization goals. Meanwhile, student housing is experiencing a renaissance, buoyed by demographic shifts and urban migration patterns. These sectors not only offer strong fundamentals but also align with broader trends shaping the future. Private Equity Embracing Sale-Leasebacks Private equity firms are continuing to turn to sale-leasebacks as a strategic lever to unlock liquidity. By selling real estate assets owned by portfolio companies and leasing them back, PE sponsors can convert illiquid real estate into cash – fueling acquisitions, funding growth initiatives or deleveraging balance sheets. This approach is particularly effective in post-acquisition scenarios, where rapid access to capital is essential but traditional financing may be costly or restrictive. Sale-leasebacks also offer flexibility in structuring, allowing firms to tailor lease terms to match cash flow realities while avoiding equity dilution or covenant-heavy debt.
Sale-leasebacks Gain Momentum as Global M&A Values Grow
Private equity sponsors are rethinking how they access capital as the M&A market heats up. Global M&A values have climbed to $1.89 trillion in the first half of 2025, meanwhile fluctuating interest rates and tighter financing make traditional methods of raising capital less appealing. “The tighter rate environment is a moving target, particularly with the recent rate cut,” says Jason Patterson, executive director of investments at W. P. Carey. “As a general rule of thumb, alternative sources of capital, such as sale-leasebacks, are attractive right now, especially if you’re having trouble securing debt in a more structured transaction.” As firms look to move forward in the current market, many are finding strategic opportunities with sale-leasebacks to tap into capital, both before and after M&A deal closings. Capturing Flexibility Pre- and Post-Acquisition For private equity firms, a sale-leaseback offers flexibility throughout the merger and acquisition process. In the pre-acquisition phase, this strategy helps reduce equity requirements. “This can lower the equity needed to close, which is especially attractive at the start of an M&A deal,” says Patterson. On the post-acquisition side, Patterson notes that a large amount of capital often remains tied up in real estate, and that sale-leaseback proceeds can support new acquisitions, or fund reinvestment in the buildings themselves. Because of this flexibility, Patterson is seeing more sponsors incorporate sale-leasebacks into their regular strategies. Securing Certainty and Speed Patterson stresses that execution speed and reliability are critical when incorporating sale-leasebacks into a strategic playbook. “Having someone you can be certain is going to provide the capital necessary to close that acquisition on time is of the utmost importance,” says Patterson. As an example, he points to a transaction in which W. P. Carey funded more than $400 million at closing for a large pharmaceutical manufacturer. “It took a lot of coordination and trust among the parties,” says Patterson. “But having that certainty was extraordinarily valuable to the sponsor because they didn’t have to call their own capital or raise additional debt to fund the transaction.” Patterson also explains that groups sometimes lack sufficient information about the real estate transaction to even consider a sale-leaseback until they are near closing, which is why having a partner who can move quickly and reliably is important. Putting Proceeds to Work Once a sale-leaseback is completed, the proceeds can be deployed in a variety of ways. Patterson notes that some groups use the capital to grow the business or expand production. In other cases, proceeds might go toward paying down debt when the cost of funds under a sale-leaseback is more attractive than traditional financing. Patterson believes this flexibility could drive wider use of the strategy in future M&A transactions. “Many groups don’t always appreciate [that] they’re literally sitting on some of the most valuable sources of capital they have in the real estate they own,” says Patterson. “And as more become familiar with using sale-leasebacks as a strategy, I think it’s possible that it could increasingly be used in the M&A process.”
Corporate Capital Report - H1 2025
Written by Colliers Corporate Capital Solutions, the report outlines the biggest factors that impacted the corporate real estate market in H1 2025, including improving debt markets, a renewed focus on corporate agility and the accelerating impact of technological innovation. The report also features contributed content from Christopher Mertlitz, Head of European Investments at W. P. Carey, on sale-leasebacks playing a pivotal role in Europe’s real estate resurgence. Access the full report below.
The Future Is Green
As the real estate industry evolves, sustainability continues to be recognized as a key consideration shaping investment strategies, tenant expectations and development practices. From carbon-neutral construction to community solar, the sector is embracing innovative solutions that promise both environmental and economic returns. Here are three sustainability trends shaping the real estate industry in 2025. Community Solar: Expanding Access to Renewable Energy One of the most impactful trends is the rise of community solar programs, where a building’s solar installation can extend renewable energy access to businesses and residents who might not be able to install solar themselves due to factors like limited rooftop space, shading, outdated electrical systems or high costs. In the last decade, community solar in the U.S. has grown about 80% annually and is projected to double from 2023 to 2028 to 14 GW (CBRE). This energy is usually sold at a slight discount to local subscribers, creating value in the community. Beyond financial returns, community solar improves grid resilience and reliability while decreasing dependence on fossil fuels. It also gives utility providers a way of locating power generation near their load centers and offtakers. Instead of buying power from a power plant that’s miles away and building transmission lines to the building, community solar locates power generation where people live. W. P. Carey is actively advancing community solar applications in several states. Carbon-Neutral Construction: Building with Purpose The construction phase of a building’s lifecycle presents a critical opportunity to reduce emissions. Investors and developers are increasingly conducting life-cycle carbon assessments and integrating carbon-neutral design standards into new builds and redevelopments. By engaging sustainability consultants early in the process and selecting materials with reduced embodied carbon, firms are minimizing environmental impact while enhancing long-term asset value. Industry wide, the low-carbon building market is projected to grow from about $655 billion in 2024 to nearly $1.6 trillion by 2034 – a compound annual growth rate (CAGR) of 11.8% (Zion Market Research). In 2024, W. P. Carey completed its first carbon-neutral construction project. During the development process, WPC prioritized lower-carbon concrete, locally sourced materials and the reuse of demolition materials on-site. To address the remaining embodied emissions, W. P. Carey procured high-quality, third-party verified carbon credits, following the standards set by the Integrity Council for the Voluntary Carbon Market (ICVCM). For more information, read the case study here. Net Zero Buildings: The Gold Standard Net zero buildings, which generate as much energy as they consume, are becoming the benchmark for sustainable development. These properties leverage energy-efficient technologies, solar energy and smart building systems to achieve operational neutrality. Net zero buildings offer benefits for owners, tenants and the environment, including reduced operating costs, healthier indoor air quality, better temperature control and a reduced carbon footprint. Net zero buildings are inherently more resilient and often command higher asset values. Globally, the net zero building market is projected to grow at a CAGR of nearly 20% annually from 2022 through 2030, driven by corporate climate commitments and tightening building codes (KD Market Insights). Conclusion: A Sustainable Path Forward The momentum behind sustainability in real estate is no longer aspirational – it’s actionable. For commercial real estate owners, the adoption of these sustainable solutions not only enhances asset values and meets evolving tenant demands but also opens new revenue streams and aligns with investor expectations. Real estate investors who embrace these opportunities are positioning themselves at the forefront of a sustainable future, where profitability and planet-positive outcomes go hand in hand. Interested in learning more about W. P. Carey’s commitment to sustainability? Read our most recent Corporate Responsibility Report.
The Ins and Outs of Sale-leasebacks
What Is a Sale-Leaseback? In a sale-leaseback (or sale and leaseback), a company sells its commercial real estate to an investor for cash and simultaneously enters into a long-term lease with the new property owner. In doing so, the company extracts 100% of the property's value and converts an otherwise illiquid asset into working capital, while maintaining full operational control of the facility. This is a great capital tool for companies not in the business of owning real estate, as their real estate assets represent a significant cash value that could be redeployed into higher-earning segments of their business to support growth. What Are the Benefits? Sale-leasebacks are an attractive capital raising tool for many companies and offer an alternative to traditional bank financing. Whether a company is looking to invest in R&D, expand into a new market, fund an M&A transaction, or simply de-lever, sale-leasebacks serve as a strategic capital allocation tool to fund both internal and external growth in all market conditions. Key Benefits Include: Immediate access to capital to reinvest in core business operations and growth initiatives with higher equity returns. 100% market value realization of otherwise illiquid assets compared to debt alternatives. Alternative capital source when conventional financing is unavailable or limited. Ability to retain operational control of real estate with no disruption to day-to-day operations. Potential to gain a long-term partner with the capital to fund future expansions, building renovations, energy retrofits and more. Who Qualifies for a Sale-Leaseback? There are several factors that determine whether a sale-leaseback is the right fit for a company. To be eligible, companies must meet the following criteria: Own Their Real Estate The first and most obvious criterion for qualification is that the company owns its real estate or have an option to purchase any existing leased space. Manufacturing facilities, corporate headquarters, retail locations, and other forms of real estate can be potential candidates for a sale-leaseback. Unlocking the value of these locations and redeploying that capital into higher yielding parts of the business is a key driver for companies pursuing sale-leasebacks. Be Willing to Commit to Operating in the Space While the term of the lease in a sale-leaseback can vary, most investors will want a commitment from a future tenant to occupy the space for a 10+ year term. Assets critical to a company’s operations are often good candidates for a sale-leaseback because a company is willing to sign a long-term lease for those locations. This makes it a more attractive investment for sale-leaseback investors as they have more security that the tenant will stay in the facility for the long term. Have a Strong Credit Profile Companies do not need to be investment-grade quality to pursue a sale-leaseback. However, some credit history is typically required so the sale-leaseback investor knows that the business can make rental payments over the course of the lease. Sub-investment-grade businesses are still eligible as long as they have a strong track record of revenue and cashflow from which to judge their creditworthiness; however, they may need to find an investor who has the underwriting capabilities to assess their business. Minimum revenue and profitability requirements will vary based firm to firm, so it’s best to ask about this upfront before engaging with any particular sale-leaseback partner. Qualities to Look for in a Sale-leaseback Investor When considering a sale-leaseback, finding the right buyer is critical in order to ensure a company is maximizing the value of their real estate. Here are some of the key qualities to look for in a sale-leaseback investor. Experience A knowledgeable investor can offer more flexibility and guide sellers through the process, creating customized deal structures to meet all of a company’s unique objectives and avoid potential pitfalls. Additionally, experienced investors can typically navigate all market cycles and offer certainty of close (some in as little as 30 days), ensuring the deal closes in a timeframe that works for the company and their fiscal requirements. An All-Equity Buyer When looking for a sale-leaseback partner, finding an all-equity buyer is important, particularly when dealing with timing constraints. All-equity buyers don't have to worry about third-party debt or financing contingencies, meaning there’s less likelihood of a re-trade in the late stages of negotiation. All-equity buyers can also typically close faster as they do not need to wait on approval from banks or lenders, providing a smoother process overall. A Long-Term Real Estate Holder Finding a long-term investor is vital. Sellers don’t want someone who is simply looking to flip a property for a quick profit. Instead, look for an investor who will remain a committed partner to you over the long run and one that can provide capital for future projects such as expansions, renovations, or energy retrofits. Diverse Knowledge and Experience Different industries, property types and locations require unique expertise to efficiently and effectively partner with sellers to structure a deal that address the needs of all parties. Working with an investor with experience in the company’s specific industry, property type and/or country ensures that all potential risks and opportunities are considered before entering into a sale-leaseback agreement. For example, if you are considering a cross-border, multi-country transaction it’s critical you look for an investor with local teams in those countries who speak the language and understand the local rules. What is a Build-to-Suit? When looking into a sale-leaseback, another term companies may encounter is a build-to-suit. In a build-to-suit, a company funds and manages the construction of a new facility or expansion of an existing one to meet the specifications of a prospective or existing tenant. Upon completion, the company enters into a long-term lease, similar to a sale-leaseback. For companies looking for a brand-new property, this is a great solution that requires no upfront capital. The Main Benefits of Build-to-Suits Include: Development of a custom-built facility in a location of the company’s choice. No upfront capital required, enabling the company to preserve capital for its business. Ability to retain operational control of the facility post construction. Potential to gain a long-term partner with the capital to fund future expansions, building renovations, energy retrofits and more. Conclusion While sale-leasebacks may seem intimidating for companies who have never pursued one, working with an experienced and well-capitalized investor can make the process easy. When working with an investor like W. P. Carey, sellers can ensure they are working with a partner that can understand the unique requirements of their business while having the added option of closing in as little as 30 days and the added advantage of gaining a long-term partner who can support its tenants through flexibility and additional capital should they wish to pursue follow-on projects such as expansions or energy retrofits as their business and real estate needs evolve. In all market conditions, sale-leasebacks are a great financing tool to unlock otherwise illiquid capital that can be reinvested into a company’s business to support future growth. Think a sale-leaseback is right for your company? Contact our team today!
Lease Accounting Made Clear: IFRS vs. US GAAP for Sellers Considering a Sale-leaseback
Lease accounting has never been simple, but the arrival of ASC 842 in the US and IFRS 16 internationally has made it even more challenging. Both standards bring leases onto the balance sheet, yet they take very different approaches. If you only report under one standard, the rules are relatively straightforward. But for many European and multinational companies that report under both, the differences can create extra complexity. And for companies consider a sale-leaseback this matters – because you’re moving from being an owner (with property recorded as PP&E) to a lessee (with right-of-use assets and lease liabilities). Here’s a look at how IFRS and US GAAP diverge, and what that means in practice. One set of rules vs. two IFRS 16 uses one set of rules for all leases – they’re recorded on the balance sheet as a right-of-use asset and a lease liability, and expenses ares split between interest and amortization. Under US GAAP (ASC 842), all leases also go on the balance sheet the same way, but the difference shows up on the income statement. Finance leases follow the IFRS approach (interest and amortization), while operating leases are recorded as a single, straight-line rent expense. Importantly, classification under US GAAP depends on the terms of the lease contract (e.g. does ownership transfer, does the lessee have a bargain purchase option, does the term cover most of the asset’s usable life, and does the present value of the lease payments equal or exceed substantially all of the fair value of the asset). How changing lease payments are handled Another key difference is how variable lease payments are treated. Under IFRS, if lease payments go up or down because they are tied to something like inflation (i.e. CPI), the lease liability on the balance sheet (essentially what a company still owes for future lease payments) is updated to reflect that change. Under US GAAP, however, the balance sheet stays the same and the changes flow through to the income statement as expenses as they occur. Short-term exceptions Both frameworks make an exception for very short-term leases (under 12 months), allowing them off the balance sheet. Why It Matters These differences affect how your financials look, how ratios move and how investors view your business. For companies that have to report under both standards, it’s especially important to understand the nuances. For companies doing a sale-leaseback, the accounting may differ, but the underlying economics don’t. What changes is how the results are presented. That’s why it’s important to work with an experienced, international partner like W. P. Carey who can understand your goals and help you navigate both frameworks Want to dive deeper? Check out our full breakdown of IFRS vs. US GAAP lease accounting. This article is for informational purposes only and should not be considered accounting advice. Please consult your own advisor regarding your specific situation.
Sale-leasebacks Gain Ground as Flexible Capital Solution
With corporate debt maturing and capital market and tariff uncertainty persisting, more companies are turning to sale-leasebacks to access capital quickly, without sacrificing control of their key real estate. “Sale-leasebacks are a unique option to provide liquidity, especially when traditional lending becomes less accessible and more expensive,” says Zachary Pasanen, managing director, investments, W. P. Carey. “Interest rates are still elevated, so companies that own their real estate are leaning into sale-leasebacks to pay off expensive debt and shore up their financial position.” As a result, this long-standing strategy is seeing increased interest as operators across industries navigate rising debt costs, looming maturities and a cautious lending environment. Meeting liquidity needs quickly In a typical sale-leaseback, a company sells a property it owns and simultaneously leases it back from the buyer. This frees up capital previously tied up in real estate while allowing the company to keep operating in the same location. “W. P. Carey is unique in that we don’t use asset-level financing,” says Pasanen. “We’re an all-equity buyer with access to multiple forms of capital, which allows us to close quickly on deals that meet our investment criteria.” He points to a recent nine-figure deal that closed just 22 days after signing the letter of intent, highlighting the advantage of working with a buyer that has decades of broad experience and ready access to capital. For companies looking beyond traditional debt financing, sale-leasebacks are a great option, particularly when you can find a buyer that offers speed and certainty of execution. “It allows the company to focus on their core competency, whether that’s a product or service, rather than tying up capital in real estate,” says Pasanen. What to consider before moving forward For companies exploring this strategy for the first time, Pasanen has a few words of advice, starting with the accounting implications. “Talk to your accounting department beforehand to make sure you understand how the lease will be treated on the books,” says Pasanen. From there, he says it’s about evaluating all your options. Many companies are surprised to learn that even secondary or tertiary locations can appeal to the right buyer. “We’re location agnostic,” says Pasanen. “As long as we’re acquiring mission-critical real estate with a long-term commitment from a company, we’re willing to consider a deal, irrespective of location.” Looking ahead, companies are likely to encounter escalating expenses and more restrictive lending environments, positioning sale-leasebacks as an effective means to swiftly generate capital and align with long-term strategic goals. “With the access to capital that we have,” says Pasanen, “we really view ourselves as a leading provider of sale-leaseback financing, delivering the type of solutions operators need in order to fund their next phase of growth.”
Commercial Lease Types Explained: Find the Best Lease for Your Business
People who are relatively new to leasing commercial real estate often mistakenly think it is similar to a residential lease on a house or apartment. In fact, commercial leases are quite different and often much more complicated. There are different commercial real estate lease types, each of which suits the needs of different businesses and landlords. It's vital to understand what kind of lease you are being offered for your commercial property so you can ensure it’s the right lease for your business. Here are the various lease types and how they work. Gross Lease A gross lease is one where you pay a flat rental fee that includes everything. This means taxes, insurance, utilities and maintenance costs are all included in the lease. You might compare this with the rare residential lease that includes utilities and possibly cable. Gross leases work well if you are renting office space or retail space in a mall. The lease is calculated to include your share of all of the common operating costs of the space. In other words, your rent will include a prorated share of real estate tax, utilities, building insurance and janitorial costs. This allows landlords to avoid having to meter individual spaces. Gross leases are typically calculated by analysis or past data, but you can often negotiate specific terms of the lease. For example, the standard lease on an office building might include your share of janitorial services in common areas and other common area maintenance, but it can be to your benefit to negotiate a lease that also includes janitorial services inside the office. This saves money because you are paying for extra time from a company that is already coming in vs. hiring a new company altogether. Modified Gross Lease This is a lease where you might have negotiated not to pay for certain things, such as electric utility. This is also very common for commercial spaces with multiple tenants. Full-Service Lease This is a lease where you only have to worry about your rent. Everything else is handled by the landlord. This is often a lot more expensive than other lease types, but it can be easier to budget as you don't have to worry about, for example, seasonal increases in utility bills. It is also called a service gross lease. Choosing a gross lease may seem like the simpler option, but you will pay a bigger rent check every month compared to other lease types. You also need to trust that the landlord will keep up their end of the bargain and ensure that everything is paid for, and maintenance gets done when needed. Net Lease A net lease, on the other hand, is one which works from the base assumption that the tenant will be taking on responsibility for some or all of the costs of running and maintaining the building. This is more common with single-tenant buildings such as warehouses or restaurants, although can be executed in multi-tenant buildings as well. A pure net lease makes you responsible for all the costs related to a property. The rent is thus lower, and although you are responsible for other costs you can typically keep operating costs down by exploring sustainable retrofit projects like a solar panel installation if your facility does not already have. One advantage beyond the benefit of a lower base rent of a net lease is that you often have more control over the property and thereby maintain a sense of ownership. You can, for example, freely choose your own utility providers and maintenance workers instead of being stuck with the landlord's preferred vendor. While your operating costs may be less predictable compared to a gross lease, net leases tend to be long-term in nature so the uncertainty of operating costs is offset by the predictability in rental fees. Here are the three major types of net leases: Single-Net Lease: In a single-net lease, the tenant pays property tax and other taxes and rent while the landlord covers everything else. Also called an N lease. Double-Net Lease: In a double-net lease, the tenant pays taxes, rent and property insurance while the landlord covers everything else. Also called an NN lease. Triple-Net Lease: In a triple-net lease, the tenant pays all costs related to property management including taxes, rent, property insurance, maintenance and other costs. Also called an NNN lease. This is the most common type of net lease. Percentage Lease A percentage lease is a lease where instead of paying a fixed rent, you pay your landlord a percentage of your sales. This includes a certain amount of base rent, and also a negotiated break-even point, which might be a fixed amount or the base rent divided by the agreed percentage. Percentage leases can sometimes be beneficial to both parties for retail space, especially in a mall or shopping center. The terms can be net or gross, with the amount of the base rent set according to what the landlord is responsible for in terms of operating costs. Operating versus Capital Lease Most commercial real estate leases are operating leases, meaning you do not get ownership of the property after the lease is done. In many cases you will be able to renew and renegotiate the lease. With a capital lease, the property is treated as a purchase for accounting purposes, and you may gain ownership at the end of the lease. Capital leases have fairly strict requirements and are relatively rare in commercial real estate. They are similar to finance leases, where you automatically gain ownership at the end of the lease term. Ground Lease A ground lease is when you own the building, but another party owns the land it is located on. Ground leases tend to be very long, averaging 50 to 99 years (compared to the 10 to 30 year lease term of net leases and the typically even shorter gross leases). While ground leases can offer you full control over the building, with some limitations, you are adding another stakeholder with other interests and opinions. It can also be harder to get out of a ground lease if you need to relocate your business. So, what is the best type of commercial lease agreement? The answer is that it depends on your business and the kind of space you are leasing. W. P. Carey is a long-term owner of real estate focused on triple-net leases. We primarily own single-tenant industrial properties that tend to be critical to business operations and therefore unlikely to be vacated for many years. This type of lease makes the most sense for these businesses as it gives the tenant full operational control over the property and is most similar to ownership. The added benefit of selling to W. P. Carey is that we are a long-term holder of real estate and do not look to flip our assets. We have a vested interest in maintaining the quality of our portfolio and pride ourselves in serving as a partner to our tenants should you have additional real estate or capital needs past the point of initial sale. That said, with over 50 years of experience providing customized solutions to our sellers, W. P. Carey can work with you on a lease type that is best for you and your business. Want to learn more? Contact & start the conversation with W. P. Carey today!
From Property to Partnership
At W. P. Carey, underwriting is the cornerstone of our investment strategy. Whether we’re evaluating a mission-critical distribution center, a top-producing grocery store, a well-located data center or a newly developed healthcare facility, our process is grounded in four essential pillars: The creditworthiness of the tenant The criticality of the asset The quality of the real estate The structure and pricing of the transaction Together, these criteria help us identify assets that deliver durable, long-term value to our shareholders. Creditworthiness of the tenant We begin with a deep dive into the tenant’s financial health. Our team evaluates balance sheets, income statements, liquidity levels, leverage ratios and access to capital. We also look beyond the numbers – analyzing the company’s industry position, growth trajectory and ability to withstand economic cycles. As long-term owners, our ideal tenant is one that will remain operational – and ideally continue to grow – for many years to come. Criticality of the asset Not all real estate is created equal. We focus on acquiring assets that are essential to a tenant’s operations – whether that’s a key distribution center, a top-performing retail location or a specialized manufacturing facility. Our goal is to understand how integral the property is to the tenant’s revenue generation, product development and supply chain. Assets that are truly critical are the ones that tenants are most likely to remain in – and invest in – over time. Quality of the real estate In addition to tenant credit and building criticality, we assess the real estate itself. This includes local market analysis, property condition assessments, third-party valuations, replacement cost estimates as well as understanding downside scenarios and re-leasing risk. Our goal is to ensure that the real estate stands on its own as a high-quality, income-generating asset. Transaction structure and pricing We structure each transaction to support both tenant operations and investor expectations. That often means negotiating long-term leases (typically 10-30 years) with built-in rent escalations and appropriate protections if needed – such as security deposits or letters of credit. Our pricing reflects both the fundamentals of the asset and the strength of the tenant, always with the goal of striking the right risk-return balance. A proven approach Throughout our more than 50-year history, this disciplined underwriting approach has enabled us to navigate complexity and build a portfolio of 1,600+ high-quality, operationally critical assets. Regardless of property type, these four pillars remain constant – highlighting that execution rooted in underwriting discipline is what ultimately drives long-term value. Interested in selling your real estate? Contact us today!