Investment management company, W. P. Carey & Co LLC has secured an £8.3-million (approx. 7.2-million) loan facility from Barclays Real Estate to refinance the newly rebuilt National Express headquarters and coach terminal in Birmingham.
W. P. Carey provides long-term sale-leaseback and build-to-suit financing for companies worldwide. The company is publicly traded on the New York Stock Exchange and manages a global investment portfolio of approximately US $11.5 billion.
Commenting on the deal, W. P. Carey Vice President, Arvi Luoma, said: "We are very pleased to complete the financing of the National Express terminal with Barclays Real Estate. Their appreciation of this unique asset and its critical role in both National Express' operations and the UK's transport network as a whole was very helpful to the underwriting process.
"As we continue to pursue our strategy of helping quality companies unlock the capital in their real estate, W. P. Carey is actively seeking sale-leaseback and build-to-suit opportunities throughout Europe and, consequently, we look forward to working with Barclays on other opportunities in the future."
Janet Shaw, Relationship Director, Barclays Real Estate, said: "Our strong track record in providing tailored funding solutions to major real estate clients enabled us to deliver the right solution to meet W. P. Carey's funding needs and we welcome the opportunity to further support them with their growth plans".
Source: Barclays Corporate