Through the transaction, W. P. Carey acquired two strategically located logistics facilities in Denmark and Sweden, totalling 46,100 square meters (496,000 square feet). Stark Group was founded in 1896 and is the largest supplier of building and construction products in the Nordic region.
“Today’s announcement is a testament to the strength of our more than 20-year history in the European sale-leaseback market and the local network that we have built in that time. W. P. Carey has been investing in the Nordics since 2001, with properties located in Denmark, Finland, Norway and Sweden, and we continue to source high-quality real estate deals with creditworthy tenants like Stark in the region. Through this transaction, Stark has unlocked capital to continue to evolve and grow its business, and we look forward to continuing to support Stark in its next chapter and beyond," says Christopher Mertlitz, Executive Director, W. P. Carey, commenting on the Stark transaction.