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W.P. Carey Completes $217 Million Sale-Leaseback with Forterra

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W.P. Carey (NYSE: WPC) engaged Irving, TX-based Forterra in a sale leaseback transaction that will keep the multinational manufacturer of concrete and clay building products and its subsidiaries in 49 of its facilities throughout North America for a period of 20 years. An internally-managed net lease REIT headquartered in New York City, WPC paid $ 217 million, or approximately, $ 54 per square foot, for the four million-square-foot portfolio, which…
Tampa/St. Petersburg Commercial Real Estate News From CoStar Group

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