C1000 B.V., a Dutch supermarket company, sold six logistics properties located across the Netherlands to W. P. Carey & Co. in a €155 million ($207 million) long term sale leaseback deal according to the Wall Street Journal. W. P. Carey, a global investment management company specializing in long term sale leaseback and build to suit financing, finalized the deal under a long term triple net lease. Reed Smith LLP & NautaDutilh N.V. served as legal advisors to W. P. Carey, while C1000 was represented by Lexence N.V.
"W. P. Carey's investment has allowed us to convert illiquid fixed assets into cash," said Tom Heidman, CEO of C1000. "Our ability to reinvest this capital in our retail business supports our growth initiatives, including re-branding to the new ‘C1000 Red' store format as well as allowing us to pay down debt and optimize our capital structure."
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