W. P. Carey (WPC) Case Study Image: ABC Group Inc.

Cross-border sale-leaseback of 14-property industrial portfolio

ABC Group Inc.

W. P. Carey provides $141 million of sale-leaseback capital to private equity firm

Transaction Type: Sale-leaseback

Total Investment: $141 million

Location: U.S., Canada and Mexico

Total Square Footage: 2.4 million sq. ft.

Facility Type: 14-property industrial portfolio

In 2016, W. P. Carey completed a $141 million sale-leaseback of a 14-property, vertically-integrated industrial portfolio across the U.S., Canada and Mexico, totaling approximately 2.4 million square feet. The portfolio was master leased by country to ABC Group Inc., a leading global automotive supplier founded in 1974 and portfolio company of NY-based private equity firm Cerberus Capital Management, L.P. The proceeds from the transaction funded working capital for Cerberus to reinvest in its portfolio company and pay down debt. The complex, cross-border transaction is a great example of how W. P. Carey can work with sponsors and their portfolio companies to efficiently structure and close transactions that meet the needs of all parties.