Thursday, January 22, 2009

New York Times in Sale Leaseback Talks with W.P. Carey

In one of those nauseating mirror-in-a-mirror type of news events, NYT reports that the NYT is in advanced sale-leaseback talks with W.P. Carey. NYT did not disclose to the NYT how much W.P.Carey would pay, what the cost to repurchase is or what the rent cost would be. “Because we are in continuing discussions, we cannot comment on the status of the sale-leaseback,” Ms. Mathis, a spokesman for NYT said.

A little about the low profile W.P.Carey:

Founded in 1973 by William Polk Carey, W. P. Carey has its headquarters in Rockefeller Center in New York. It operates in 14 countries and arranges sale-leasebacks for a wide variety of industries. The company has about $10 billion in assets under management, about $2 billion of which is owned by its public company. The other $8 billion in assets are owned by W. P. Carey’s four real estate investment trusts and managed by the public company.
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