W. P. Carey completes sale and leaseback of manufacturing facilities in Poland

W. P. Carey has completed a €52 million sale‑leaseback of two light industrial manufacturing facilities in Poland, securing long‑term, CPI‑linked income from Purmo Group, one of Europe’s leading providers of sustainable indoor climate solutions. 

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Totalling approximately 83,400 sq m, the facilities are triple‑net leased to Purmo Group on a 20‑year master lease.

The assets, located in western Poland along key arterial transport routes, are mission‑critical to Purmo Group’s operations and produce the majority of its panel radiators, the company’s largest business line. The strategic location supports efficient distribution across Europe and underpins Purmo Group’s long‑term growth ambitions.

Founded in 1953, Purmo Group operates in more than 20 countries and is backed by Apollo‑managed funds, with the Rettig Group retaining a minority stake.

Jolette Persson, Senior Vice President, Investments at W. P. Carey, said the transaction reflects the type of long‑term, mission critical investment the firm continues to target across Europe. “This transaction reflects the type of investment opportunity we continue to pursue across Europe: high‑quality, mission‑critical real estate leased on a long‑term basis to a market‑leading operator. We are also pleased to further expand our presence in Poland, a market where we have invested over €900 million since 2006 and continue to see attractive opportunities to partner with high‑quality businesses through strategic sale‑leaseback transactions.”

Erik Hedin, Chief Financial Officer at Purmo Group, said the capital generated through the sale‑leaseback will support the company’s growth strategy. “The capital generated through this sale‑leaseback supports our long‑term growth ambitions and allows us to continue investing in our business. W. P. Carey took the time to understand our objectives and was a reliable and knowledgeable partner during this process.”