CPA:17 - Global Acquires Polkomtel Headquarters in Warsaw, Poland
Net lease with leading Polish telecommunications company adds high-quality asset to portfolio
LONDON, Dec. 22, 2015 /PRNewswire/ -- W. P. Carey Inc., a global net lease REIT specializing in corporate sale-leaseback and build-to-suit financing, and the acquisition of single-tenant net lease properties, announced that CPA®:17 – Global, one of its managed non-traded REITs, has acquired the new corporate headquarters of Polkomtel.
Key Facts
- Industry leading tenant: Polkomtel is one of Poland's leading mobile telecommunications operators, providing services under the Plus brand. The company is the leader of LTE technology, using state-of-the-art telecommunication solutions in developing services for its customers. It is a part of the Cyfrowy Polsat Group, the biggest media and telecommunication group in Poland, which has 5.9 million contract customers and 16.4 million subscribers for mobile telephony, pay TV and Internet access. Apart from Polkomtel, the Group consists of Cyfrowy Polsat — the operator of the biggest Polish satellite platform and provider of state-of-the art multimedia services, Telewizja Polsat — a leading Polish commercial broadcaster offering 30 popular TV channels generating the viewership at the level of 25% and IPLA service, the leader of the online video market with 4.6 million users.
- Newly constructed, Class A headquarters facility: The 244,000-square-foot, Class A office was just completed to meet modern standards and Polkomtel's specifications. It has a flexible layout and two floors of underground parking.
- Highly appealing Warsaw location: Situated in Mokotów, one of Warsaw's fastest developing office submarkets, the facility benefits from a central location with public transportation connections and efficient access to the central business district and Warsaw's main international airport. The area is the largest and most established office market outside of the city center and is home to other prominent occupants such as Statoil, Maersk, Pfizer, T-Mobile and Samsung.
- Long lease term with built-in rent growth: The initial lease term is 10 years and includes annual Eurozone CPI-based rent escalations.
Management Commentary
Christopher Mertlitz, Vice President at W. P. Carey, commented: "This net lease transaction enhances our presence in Poland, a rapidly growing economy in Central Europe. It offered the opportunity for CPA®:17 – Global to acquire a brand new, high-quality headquarters office building in Poland's capital city leased to a major local corporation — one of the country's leading mobile telecommunications operators. The creditworthiness of the guarantor and the attractiveness of the asset, along with the long lease term, make this acquisition a strong addition to the CPA®:17 – Global portfolio."
Mateusz Skubiszewski, Director of Capital Markets at BNP Paribas Real Estate Poland, noted: "W. P. Carey's presence and history in Europe, and in particular Poland, in conjunction with their expertise in net-lease transactions, enabled us to efficiently negotiate and structure the transaction."
W. P. Carey Inc.
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This press release contains forward-looking statements within the meaning of the Federal securities laws. The statements of Mr. Mertlitz are examples of forward looking statements. A number of factors could cause CPA®:17 – Global'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 commercial 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 CPA®:17 – Global, reference is made to its filings with the Securities and Exchange Commission. Statements about past performance, which are presented for informational purposes only, are not a guarantee of future results.
W. P. Carey Inc. contacts:
Europe
Dan de Belder/ Aarti Iyer/Tom Cahn
+44 203 772 2561
[email protected]
U.S.
Media Contact:
Guy Lawrence
+ 1 212-308-3333
[email protected]
Company Contact:
Brittany Rooney
+ 1 212-492-8921
[email protected]
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SOURCE CPA:17 - Global
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