NEW YORK, NY--(Marketwire - Dec 12, 2012) - W. P. Carey Inc. (
The facilities and land acquired are part of the Wanbishi Kanto No. 5 document/media storage campus located in the Osato District, Saitama Prefecture. The site is approximately 50 miles north of Tokyo, located along the Kanetsu Expressway, the main expressway to Tokyo. The facility is strategically located at a distance from central Tokyo, providing protection of information assets of clients with offices in Tokyo. The campus, which is the second largest information center Wanbishi operates, serves financial services firms and government agencies.
W. P. Carey President and CEO Trevor Bond commented, "The transaction with Wanbishi allows us to expand our global footprint into Japan while adhering to our established investment parameters. The critical factor for us, when investing in any country, is to identify and secure attractive investments that incorporate the longer term, risk-adjusted income-generating characteristics of our investments in other parts of the world while increasing the overall diversity of our global portfolio. Given Wanbishi's operating history and position in the growing Japanese information asset management business, the company's profile is consistent with the type of credit worthy tenant that W. P. Carey has traditionally sought out, both domestically and in international markets."
Commenting on the acquisition, W. P. Carey Managing Director and Head of Asian Investments Grace Shui noted, "Our strategy in Asia has been based on forming relationships with established companies with whom we can align ourselves to secure solid opportunities for our investors. The acquisition of the Wanbishi assets and land encompassed by the Kanto Center 5 supports our goal of acquiring critical operating assets leased to solid companies."
W. P. Carey Inc.
W. P. Carey Inc. is a publicly traded REIT (
Wanbishi, established in 1966, is a market leader in information asset management and support services in Japan, including storage of paper documents and digital data, data destruction and recycling, consulting, and outsourcing of document management and disaster recovery, among other information management services. Wanbishi provides various information asset management solutions to approximately 4,000 customers in Japan, mainly large enterprises such as financial firms and government offices. Wanbishi is 100% subsidiary of Toyota Industries Corporation (TYO;6201)
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.