W. P. Carey Announces $11.3M of Investments on Columbus Facilities

Press release from the issuing company

Thursday, May 8th, 2014

W. P. Carey Inc., a global net-lease REIT specializing in corporate sale-leaseback financing, build-to-suit financing and the acquisition of single-tenant net-lease properties, announced today that it had completed four acquisitions on behalf of CPA:18  Global, one of its managed REITs. The total cost of the four acquisitions, which include a total of six facilities located in Georgia and Michigan, was approximately $35 million.   

Swift Spinning – Manufacturing Facilities 
The two manufacturing facilities, located in Columbus, Georgia, total 432,800 square feet and are leased to Swift Spinning, Inc. ("Swift") for a term of 20 years. Founded in 1906, Swift is the second largest producer of ring-spun cotton yarn in the United States, based on sales to third parties. Swift purchases raw bales of cotton and utilizes the ring-spinning method to manufacture yarn for use in socks, jeans and shirts, among other textiles. The 159,100 square foot Combed Yarn Division Facility was built in 1965 and produces yarn for Swift's Hosiery and Woven segments. The 273,700 square foot East Columbus Facility was built in 1995 and produces yarn primarily for Swift's knitting segment. The two facilities account for all of Swift's yarn production. The total acquisition price of the facilities was approximately $11.3 million.      

W. P. Carey Inc.  
W. P. Carey Inc. is a leading global net-lease REIT that provides long-term sale-leaseback and build-to-suit financing solutions for companies worldwide. It also acts as the manager to a series of non-traded REITs. The Company's owned and managed diversified global investment portfolio had a combined enterprise value of approximately $15 billion at December 31, 2013. Its 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. Furthermore, its portfolio of long-term leases with creditworthy tenants has an established history of generating stable cash flows, enabling it to deliver consistent and rising dividend income to investors for over four decades.