W. P. Carey Announces Build to Suit Financing in Martinsville, VA and Acquisition of Restaurant Site in Downtown Chicago

Investment firm W. P. Carey & Co. LLC WPC announced today that CPA®:17 - Global, one of its publicly held non-traded REIT affiliates, has agreed to provide build to suit financing for an operations center and office facility in Martinsville, Virginia. The financing will total approximately $14.5 million. When completed, the 93,000 square foot facility will be leased to ICF International under a long term lease. The project will be developed by Panattoni Development Company. In addition, W. P. Carey announced that CPA®:17 - Global has acquired an approximately 14,000 square foot land site in the River North neighborhood in downtown Chicago to be leased to CRO-San Luis Development, LLC. CRO is building a Cantina Laredo restaurant on the site that is anticipated to be completed and open in August. The purchase price for the land was approximately $7 million.