Business
W. P. Carey Announces Year-to-Date Investment Volume Totaling $1.1 Billion
W. P. Carey Inc. (NYSE: WPC) (W. P. Carey or the Company), a leading net lease REIT specializing in corporate sale-leasebacks, build-to-suits and the acquisition of single-tenant net lease properties, today announced year-to-date investment volume totaling approximately $1.1 billion, including investment volume totaling approximately $400 million completed since the Company reported its first quarter 2026 financial results on April 28, 2026.
About this update from W. P. Carey Inc. Reit
[{"type":"text","content":"Adds $400 Million of Investment Volume Since Announcing First Quarter Results","length":77,"tagName":"p","attribs":{}},{"type":"text","content":"NEW YORK, May 12, 2026 /PRNewswire/ -- W. P. Carey Inc. (NYSE: WPC) (W. P. Carey or the Company), a leading net lease REIT specializing in corporate sale-leasebacks, build-to-suits and the acquisition of single-tenant net lease properties, today announced year-to-date investment volume totaling approximately $1.1 billion, including investment volume totaling approximately $400 million completed since the Company reported its first quarter 2026 financial results on April 28, 2026.","length":484,"tagName":"p"},{"type":"text","content":"GardenCore Sale-leaseback","length":25,"tagName":"p"},{"type":"text","content":"On May 8, 2026, the Company closed the sale-leaseback of a 43-property manufacturing portfolio with newly branded GardenCore (formerly Oldcastle Lawn & Garden), a leading U.S. manufacturer of lawn and garden consumables, offering a broad portfolio of mulch, soil, stone and lime products. GardenCore has deep, long-standing partnerships with major home improvement retailers and garden centers, and delivers consistent, high-quality execution across large-scale private label and branded programs.","length":501,"tagName":"p"},{"type":"text","content":"Located in 24 states across the U.S., the portfolio is triple-net master leased for a term of 20 years with fixed annual rent escalations. It represents the entirety of GardenCore's owned real estate, contributing a significant portion of its overall revenue. Pacific Avenue Capital Partners, a leading private equity firm, recently acquired GardenCore as part of a corporate carve-out from CRH's packaged mulch, soil and stone business.","length":445,"tagName":"p"},{"type":"text","content":"At the time of investment, GardenCore ranked among W. P. Carey's top 10 largest tenants by annualized base rent (ABR).","length":122,"tagName":"p"},{"type":"text","content":"Investment Volume Outlook","length":25,"tagName":"p"},{"type":"text","content":"Based on the investment volume it has completed year-to-date, the capital investments and commitments it has scheduled to deliver over the remainder of 2026, and its investment pipeline, W. P. Carey currently has visibility into investment volume totaling approximately $1.5 billion.","len...