W. P. Carey Buys Office Facility Of DCLG For $72 Mln - Quick Facts

(RTTNews) - W. P. Carey Inc.(WPC), a provider of corporate sale-leaseback financing, Tuesday said it acquired an office facility of the Department of State for Communities and Local Government or DCLG, a department of the UK Government, for $72 million or 40 million pounds.

The facility is leased to the DCLG on a 15-year, triple-net lease and is currently occupied by the UK's tax department, Her Majesty's Revenue & Customs, which has consolidated its staff from several locations into the building, which now accommodates about 2,000 employees.

"The recent staff consolidation into the facility demonstrates that this is an important location for HMRC and supports our proven business model of acquiring key operating assets let to single tenants on long-term net-leases," said Jennifer Lucas, Director of the company.