Friday, March 17, 2006

OBI Enters $200 Million Sale Leaseback of 18 DIY Stores in Poland

PRNewswire-FirstCall - March 16, 2006

W. P. Carey International LLC, an affiliate of investment firm W. P. Carey & Co. LLC (NYSE: WPC) , announced today that it has entered into agreements to acquire and lease back 18 facilities from OBI AG, the fourth largest Do-It-Yourself (DIY) retailer in the world, for a total purchase price that is expected to be approximately $200 million. The transaction is expected to close March 30, 2006.

The 18 facilities are located throughout Poland and include 15 existing retail stores including the Polish headquarters in Warsaw, two stores under construction and one build-to-suit retail site. Currently, OBI operates stores in Austria, Bosnia-Herzegovina, the Czech Republic, Germany, Hungary, Italy, Poland, Russia, Slovenia, and Switzerland. OBI plans to use these funds to further expand its footprint throughout Central and Eastern Europe. Sphere: Related Content

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