W. P. Carey International LLC, an affiliate of investment firm W. P. Carey & Co. LLC, announced today the acquisition of a portfolio of 61 French logistics properties through a sale and leaseback transaction with the Fraikin Group, a portfolio company of CVC Capital Partners, for $68 million.

Totaling more than 1 million square feet, the properties are situated throughout France, including locations in Paris, Lille and Marseille. The facilities are generally located in prime industrial parks outside of large cities, with convenient access to major road networks. They represent the majority of Fraikin’s French operating assets.

Founded more then 60 years ago, Fraikin has grown to become Europe’s largest commercial truck and industrial vehicle leasing company. Active in France, Spain, Poland, Switzerland and Slovakia, Fraikin serves the commercial fleet leasing needs of many of Europe’s most well-known companies.

Edward V. LaPuma, President of W. P. Carey International LLC, said, “This recent transaction with Fraikin has allowed us to expand our coverage in France, a region in which we are committed to growing our presence. Fraikin is a market leader in Europe with the potential to serve as a platform for industry consolidation. We are also delighted to be serving the long-term financing needs of a portfolio company of CVC, as they are one of Europe’s most experienced and reputable private equity groups.

W. P. CAREY & CO. LLC

Founded in 1973, W. P. Carey & Co. LLC is a leading global real estate investment firm. The Company provides asset management services to its CPA® series of income generating real estate funds. With approximately $5 billion in equity capital, the W. P. Carey Group is one of the largest providers of net lease financing for corporations worldwide. The Group owns approximately 800 commercial and industrial properties in 13 countries, representing approximately 97 million square feet, valued at approximately $8.5 billion. http://www.wpcarey.com

Individuals interested in receiving future updates on W. P. Carey via e-mail can register at http://www.wpcarey.com/alerts.

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.

PRESS CONTACT:
W. P. Carey & Co. LLC
Diana Keating
+1 212-492-8956
dkeating@wpcarey.com

Financial Dynamics
Stephanie Highett/Dido Laurimore/Nicole Marino
phone: +44 (0)20 7831 3113
stephanie.highett@fd.com
dido.laurimore@fd.com
nicole.marino@fd.com

Source: W. P. Carey International LLC

This entry was posted on Wednesday, February 28th, 2007 at 11:30 pm and is filed under Real Estate. Tags: asset management services Europe France income generating real estate fund income generating real estate funds Paris Poland Private Equity Group Real Estate real estate fund real estate funds real estate investment Securities and Exchange Commission Slovakia Spain Switzerland W. P. Carey Group . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.