W. P. Carey Acquires Tommy Hilfiger European Distribution

New Post Public Reply Private Reply Replies (0) Message Board
News Desk 2018
W. P. Carey Acquires Tommy Hilfiger European Distribution Center

LONDON--(Marketwired - April 30, 2013) - W. P. Carey Inc. ( NYSE : WPC ), a real estate investment trust ("REIT") specializing in corporate sale leaseback financing, build-to-suit construction financing, and the acquisition of single-tenant net-lease properties, announced today that it has acquired the main European distribution center of the Tommy Hilfiger Group from its current landlord, Aspen Real Estate Investments BV.

The total acquisition cost for the facility was approximately EUR 30 million ($38.8 million). The facility is subject to an existing net lease with Tommy Hilfiger Europe B.V. Headquartered in Amsterdam, Tommy Hilfiger Europe B.V. represents the European business of the Tommy Hilfiger Group. In Europe, Tommy Hilfiger sells to more than 9,000 wholesalers and owns / operates 118 retail stores and 43 outlet stores. Since 2010, the Tommy Hilfiger Group has been owned by PVH Corp ( NYSE : PVH ), one of the world's largest apparel companies.

The facility is Tommy Hilfiger's main logistics centre for all of Europe. It has received significant investment by Tommy Hilfiger for internal fit-out and has both unbuilt land and adjacent land available for expansion. The facility is located in Venlo, a core logistics hub in the Netherlands. Venlo is an established distribution location, with close proximity to the German border and the two largest ports in Europe.

Jeffrey Lefleur, Managing Director of W. P. Carey, said: "This was an excellent opportunity to acquire an operationally critical single-tenant property in a prime logistics location. As a dedicated landlord and financing partner, we welcome this opportunity to support the future growth of Tommy Hilfiger in Europe."

W. P. Carey Inc. Celebrating its 40th anniversary, W. P. Carey Inc. is a publicly traded REIT ( NYSE : WPC ) that provides long-term sale-leaseback and build-to-suit financing for companies worldwide and owns and manages an investment portfolio totaling approximately $14.1 billion. The largest owner/manager of net lease assets, WPC's corporate finance-focused credit and real estate underwriting process is a constant that has been successfully leveraged across a wide variety of industries and property types. Our portfolio of long-term leases with creditworthy tenants has an established history of generating stable cash flows that have enabled the Company to deliver consistent and rising dividend income to investors for nearly four decades. www.wpcarey.com

This press release contains forward-looking statements within the meaning of the Federal securities laws. A number of factors could cause the Company's actual results, performance or achievement to differ materially from those anticipated. Among those risks, trends and uncertainties are the general economic climate; the supply of and demand for office and industrial properties; interest rate levels; the availability of financing; and other risks associated with the acquisition and ownership of properties, including risks that the tenants will not pay rent, or that costs may be greater than anticipated. For further information on factors that could impact the Company, reference is made to the Company's filings with the Securities and Exchange Commission.

For W. P. Carey Inc. Europe Dan de Belder/Guy Scarborough +44 207 861 3232 ddebelder@pelhambellpottinger.co.uk US Guy Lawrence Ross & Lawrence + 1 212-308-3333 gblawrence@rosslawpr.com Cheryl Sanclemente + 1 212-492-8995 csanclemente@wpcarey.com
Scroll down for more posts ▼

Top 10 Most Recent News Articles

Novo's Research Unlocks New Insights into Food Noise

Updated Category News Views 148

Unpacking the Science Behind Food Noise When folks think about losing weight, most picture shedding pounds and fitting into those elusive smaller jeans. But get this—there’s a curveball called ‘food noise’ that’s making waves in obesity treatment. Novo Nordisk’s semaglutide injections are shaking things up, cutting down on those persistent thoughts about food....

Continue Reading
YSTUDIO's Pens: A Nod to the Power of Writing

Updated Category News Views 132

Slow Down, Write On: A New Era for Stationery In a world where sentiments zip around with a swipe, here we find YSTUDIO tapping into something analog and profound. Their latest offerings—a 'Brand Day Gift Box' and the 'Inner Universe' pen series—are more than just high-end stationery. They’re an invitation to reconnect with the written word, a gesture to slow our...

Continue Reading
Kentucky Power's Bold Plan to Boost Local Economy

Updated Category News Views 183

Electricity, Economy, and Execution Kentucky Power just laid out plans that could massively swing the pendulum for eastern Kentucky's economic prospects. They've put filings on the table for the Kentucky Public Service Commission that, if approved, promise big economic benefits. We're talking about a potential infusion of $500 million through fixed-rate offsets and an...

Continue Reading
KeyCorp Plans Redemption of Series E Preferred Stock

Updated Category News Views 112

KeyCorp Drops a Major Redemption Bombshell Out of the blue, KeyCorp (NYSE: KEY) just tossed a curveball at investors with the announcement they’re redeeming every last one of their Series E Fixed-to-Floating Rate Perpetual Non-Cumulative Preferred Stock shares come December 15, 2026. This move is bound to stir the pot a bit even if you’ve been around the block a few...

Continue Reading
El Pollo Loco Faces Class Action Over Wage Practices

Updated Category News Views 170

Alright, here's where things start sizzling—El Pollo Loco, the fast-food chicken chain whose name translates to 'The Crazy Chicken'—is in a legal pickle. The lawsuit hanging over their heads could spell a sticky situation for them and possibly ripple through the fast-food industry. The suit, filed by the steadfast firm Blumenthal Nordrehaug Bhowmik De Blouw LLP, has...

Continue Reading
Manhattan Associates Faces Investigation by KSF Law Firm

Updated Category News Views 141

KSF Digs Into Manhattan Associates' Claims In the swirl of the financial world, you rarely see an investigation that doesn’t raise a few eyebrows. This time, it's Manhattan Associates, Inc. (NasdaqGS: MANH) squarely in the crosshairs of Kahn Swick & Foti, LLC (KSF), a pivotal player in securities litigation. You’ve got to wonder what dirt might be uncovered here,...

Continue Reading
CARsgen's CAR-T Breakthrough on China's Insurance List

Updated Category News Views 115

A Game Changer for CAR-T Therapies There's a breeze of optimism blowing from Shanghai these days—a rare sensation in this market of endless skirmishes. CARsgen Therapeutics Holdings Limited, a company entrenched in the development of cutting-edge CAR T-cell therapies, just notched a victory. They've announced that their CAR T-cell therapy product, satricabtagene...

Continue Reading
BIBIBOP Brings Good Vibes with OLIPOP Happy Hour

Updated Category News Views 175

Boosting Midday Energy with BIBIBOP's New Promo Here we go, folks. BIBIBOP Asian Grill is dialing up the culinary energy just when you need it most. From November 16 to 22, during their Good Energy Happy Hour, they’re serving up a deal designed to pump some pep into your afternoon—free OLIPOP prebiotic soda with any regular bowl purchase. Just stroll into any of their...

Continue Reading
FiEE Rockets to Profitability with 382% Revenue Surge

Updated Category News Views 188

Big Moves in the Tech Jungle: FiEE's Comeback Let's chew the fat on FiEE, Inc., a company that's left its hardware-heavy past in the dust and grabbed the bull by the horns with fresh, AI-driven brand tech solutions. We're talking a whopping 382.1% revenue increase. Now, that's not chump change. From barely scraping $2 million last year to raking in $9.6 million just for...

Continue Reading
Gaine Expands Healthcare Data Solutions Ahead of HLTH 2026

Updated Category News Views 174

Ever felt like healthcare systems are still stuck in a bygone era, struggling with data flinging through the void? Well, Gaine Technology is throwing down its gauntlet to change that narrative. Successful in pharmaceuticals and life sciences, they're turbocharging their Consent and Preference Management solution across the vast, tangled web of healthcare markets just in...

Continue Reading

Top 5 Most Recently Viewed Articles

Global Cooking Sauces Market Projected to Reach $68.56 Billion

Updated Category News Views 40

Expansion of the Global Cooking Sauces Market The Global Cooking Sauces Market is on track for substantial growth, projected to rise from USD 46.47 billion in 2023 to an impressive USD 68.56 billion by 2033. This remarkable increase reflects a Compound Annual Growth Rate (CAGR) of 3.97%, highlighting the growing consumer interest in a variety of flavorful cooking options....

Continue Reading
Sinopec's Groundbreaking Geothermal Project Begins Power Production

Updated Category News Views 116

Sinopec's Groundbreaking Geothermal Project Connected to Power Grid Sinopec Star Co., Ltd., a clean energy arm of China Petroleum & Chemical Corporation (HKG: 0386, 'Sinopec'), has achieved a significant milestone by connecting its geothermal power generation pilot project to the grid. This initiative represents Sinopec's inaugural venture into geothermal electricity...

Continue Reading
WEBTOON Investors Alert: Important Actions You Can Take

Updated Category News Views 166

Important Update for WEBTOON Investors WEBTOON Entertainment Inc. (NASDAQ: WBTN) is currently in the spotlight due to an impending class action lawsuit that could have significant implications for its shareholders. This is a critical time for investors who have faced losses in recent financial setbacks. Take Action Before the Deadline for Lead Plaintiff Applications If...

Continue Reading
Painter Capri: Comfort Revolution or Just Hype?

Updated Category News Views 127

A New Hope for Painters' Comfort? Alright, here we go. Some folks out there in the land of ladders and rollers have had it with wearing uncomfortable, stifling work gear every day. Enter the PAINTER CAPRI. Designed by an inventive spirit from Homer Glen, Illinois, these pants aim to be both breathable and functionally sound—for painters, electricians, and other gritty...

Continue Reading
Age of Union's Black Hole Experience Debuts During Climate Week

Updated Category News Views 72

Introducing the Black Hole Experience by Age of Union Age of Union is excited to announce the launch of their immersive installation, the Black Hole Experience (BHX), during a major environmental event aimed at raising awareness about climate change. This distinctive event encourages the public to interact with art that promotes environmental consciousness and inspires...

Continue Reading