W. P. Carey Inc. acquires €23.1 mln logistics facility net leased to Scania (SE)
W. P. Carey Inc. announced today that it has acquired a logistics facility in Oskarshamn, Sweden for approx. SEK 216 mln (approx.€23.1 mln). The facility was purchased from the developer and is net leased to Scania AB (Scania), a leading manufacturer of commercial vehicles.
Completed in March 2015, the Class-A building was purpose-built for Scania to provide logistics support for one of its main manufacturing plants in Oskarshamn, which was recently expanded. The facility is located on a key highway route connecting Stockholm, Oskarshamn and Malmö to mainland Europe.
The facility is net leased with approximately 15 years remaining and includes annual CPI-based rent escalations.