Manufacturing Industry
Nexpak nets $13.6 million for refinancing.(sells facility to Corporate Property Associates 14 Inc.)(Brief Article)
Plastics News, June, 2001 by Renstrom, Roger
Media packaging giant Nexpak Corp. has sold its Duluth, Ga., facility for about $13.6 million and leased back the 221,000-square-foot plant. W.P. Carey & Co. LLC of New York said May 29 it had completed the deal on behalf of Corporate Property Associates 14 Inc., a real-estate investment trust focused on single-tenant commercial sites.
W.P. Carey manages and advises the REIT. The transaction enables Nexpak's investors to redeploy their capital and remove debt from the balance sheet, said Executive Director Edward LaPuma of W.P. Carey, a real estate financing specialist firm that trades on the New York Stock Exchange. The portfolio of privately held, publicly registered CPA:14 includes 66 domestic properties that are net-leased to 44 tenants. Typically, a...
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