W. P. Carey Closes 43-Property GardenCore Sale-Leaseback, Hits $1.1B YTD Investments
W. P. Carey reported year-to-date investment volume of $1.1 billion, including $400 million deployed since its April 28 first-quarter report. On May 8, the company closed a 20-year triple-net sale-leaseback of a 43-property GardenCore manufacturing portfolio across 24 states and sees $1.5 billion of 2026 investments in view.
1. Year-to-Date Investment Volume
W. P. Carey achieved approximately $1.1 billion of investment volume year-to-date, including $400 million deployed since reporting first-quarter results on April 28, 2026. This pace reflects continued focus on corporate sale-leasebacks, build-to-suit developments and single-tenant net lease acquisitions.
2. GardenCore Sale-Leaseback
On May 8, 2026, the company closed a sale-leaseback of a 43-property manufacturing portfolio with GardenCore, covering operations in 24 U.S. states. The portfolio is master leased on a triple-net basis for 20 years with fixed annual rent escalations and represents the entirety of GardenCore’s owned real estate.
3. 2026 Investment Outlook and Portfolio Focus
Based on completed investments, scheduled capital commitments and its pipeline, W. P. Carey has visibility into approximately $1.5 billion of total 2026 investment volume. The REIT’s diversified portfolio includes 1,703 net lease properties across 185 million square feet, primarily in single-tenant industrial, warehouse and retail assets with long-term leases and built-in escalations.