W. P. Carey Inc., a real estate investment trust, specializing in corporate sale-leaseback financing, build to-suit financing and the acquisition of single-tenant net-lease properties, announced today that CPA®:18 – Global, one of its managed non-traded REITs, has acquired an office and research and development facility leased to Infineon Technologies AG. The facility is located in Warstein, Germany and was acquired from RFR Group, a global real estate investment and development group, for approximately €20 million.
Infineon, one of the world’s largest semiconductor companies, is listed on the Frankfurt stock exchange and has a market capitalization of approximately €9.2 billion. Germany is Europe’s largest economy, rated AAA/Stable by all major ratings agencies. Infineon has been operating at the Warstein location for more than 65 years. The modern office building was built specifically for Infineon on its existing R&D and production campus.
Infineon also recently constructed an additional semiconductor production plant on the campus. The facility serves as one of Infineon’s two global competence centers, making the location vital to the company’s long-term strategy. Completed in December 2012, the facility is DGNB Gold certified with “Energy A” Rating. The lease term is approximately 17 years.
Arvi Luoma, Director of W. P. Carey, commented: “As one of the world’s largest semiconductor companies, Infineon is a market leader and a solid addition to CPA®:18 – Global’s tenant portfolio. The recently completed facility is a mission-critical asset for Infineon and demonstrates its long-term strategic commitment to the region. The purchase from RFR Group also highlights our ability to structure transactions worldwide with institutional owners and developers to provide liquidity in support of their global portfolio strategies.”
Source: W.P Carey