W. P. Carey Inc. a real estate investment trust ("REIT") specializing in corporate sale-leaseback and build-to-suit financing, and the acquisition of single-tenant net-lease properties, announced that CPA®:18 - Global, one of its publicly held non-traded REIT affiliates, has acquired the new headquarters of Siemens AS in Oslo, Norway from the developer of the facility, Oslo Business Park AS. The Siemens headquarters in Oslo was acquired for NOK 544 million (€65.6 million).
Arvi Luoma, Director of W. P. Carey, commented: “The acquisition of Siemens' Norwegian headquarters is well-aligned with our strategy of acquiring high quality, critical assets with strong covenants in key commercial locations. As one of the largest engineering companies in the world and active in 190 countries, Siemens is a strong credit with a long-term sustainable future. In addition, we are delighted that this first acquisition in Norway expands W. P. Carey’s presence to 21 countries.’’
Source: Bell Pottinger