W. P. Carey Reports $158 Mln Bank Pekao Transaction In Poland - Quick Facts

(RTTNews) - W. P. Carey Inc. (WPC), an independent equity real estate investment trust, said that two of its publicly held non-traded REIT affiliates, CPA®:17 - Global and CPA®:18 - Global, have jointly purchased the headquarters of Bank Pekao S.A. in Warsaw, Poland, from CA Immo for nearly $158 million, or 115 million euros.

Bank Pekao, the second largest bank in Poland, is publicly traded on the Warsaw Stock Exchange with an equity market capitalization of around $17 billion and is rated "BBB+ / Stable" by S&P. The seller, CA Immo, is Austria's second largest property investor and is planning to concentrate and balance out its asset portfolio in Warsaw, W. P. Carey noted.

The acquisition was completed on an all-equity basis, providing a fast, committed, low-risk closing process.