Nord Anglia Education
W. P. Carey acquires four private preparatory school campuses
Tenant Description: Founded in 1972, Nord Anglia Education is a leading global operator of premium international schools with more than 80 schools located in 37 countries.
Total Investment: $366 million (includes $167 million initial investment, a commitment to fund up to $128 million in expansions and property improvements, and a $71 million follow-on acquisition)
Transaction Type: Sale-leaseback¹, Build-to-suit² and Acquisition of existing lease³
Location: Florida, Texas and Illinois
Facility Type: 4 private preparatory schools
In 2016, W. P. Carey completed the sale-leaseback of three educational facilities leased to Nord Anglia Education, a global leader in premium school organizations, for $167 million. The state-of-the-art facilities house preschool through 12th grade students who benefit from a wide range of amenities, including extensive athletic facilities. At the time of the acquisition, W. P. Carey also agreed to fund up to $128 million of build-to-suit expansions and property improvements to enhance the criticality of the assets. Construction of all build-to-suit projects was completed in 2019, whereby all facilities were subject to a new 25-year triple-net lease.
In 2026, W. P. Carey completed the $71 million acquisition of a 102,000-square-foot private school located in Chicago, Illinois. The school is net leased to British Schools of America, part of Nord Anglia Education. Completed in 2015, the campus was designed to serve students from preschool through 12th grade and features modern academic, arts and athletic facilities within a three-story building. Its location adjacent to the Roosevelt Collection places the property within one of Chicago's most dynamic mixed-use environments, with access to downtown, public transit and a growing residential population.
This series of investments demonstrates W. P. Carey’s ability to structure large, complex transactions and serve as a long-term capital source for growing companies.
¹In a sale-leaseback, a company sells its real estate to an investor like W. P. Carey for cash and simultaneously enters into a long-term lease. In doing so, the company extracts 100% of the property’s value and converts an otherwise illiquid asset into working capital to reinvest in its business or pay down debt, while maintaining operational control.
²In 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.
³In an acquisition of an existing lease, W. P. Carey will acquire a single-tenant property subject to an existing net lease. This type of transaction enables the previous property owner to achieve a number of different objectives depending on their needs. For example, exit a property that no longer fits its strategy, liquidate a finite-life fund or generate proceeds to invest in new properties or for M&A activity.
We are excited to expand our relationship with Nord Anglia Education, an existing tenant, through the acquisition of this high-quality educational facility that serves a critical role in the Chicago community. The property benefits from strong enrollment, a highly accessible location and a long-term lease with a leading organization – all of which made this a compelling opportunity.
W. P. Carey's long history of providing sale-leaseback and build-to-suit financing solutions, combined with their ability to underwrite the value and growth potential of these schools, made them the ideal partner for the sale-leaseback of Windermere Preparatory School, North Broward Preparatory School and The Village School.