W.P. Carey provides EUR20M construction financing in Poland

W. P. Carey announced that one of its publicly-held non-traded REIT affiliates, CPA:17 - Global, will be providing a EUR20M, or $26M, construction financing package for Nippon Sheet Glass Co., Ltd, or NSG Group. The financing will deliver 100% of the funds needed for the development of a 35,000 square meter warehouse facility located in Tarnobrzeg, Poland. The warehouse is being developed by Panattoni Europe; when completed it will be long-term, triple-net leased to a Polish subsidiary of NSG Group. The facility is located adjacent to NSG Group's EUR80M investment in a new glass processing plant, which is currently under construction.