W. P. Carey said it completed about $580 million of investment volume in the first quarter of 2026, with single-tenant warehouse and industrial properties accounting for about 60% of the total and retail properties making up 40%.
Geographically, 45% of first-quarter investment volume was in Europe, 35% in Canada, and the remainder in the U.S.
The quarter’s largest disclosed deal was a roughly $210 million sale-leaseback of 14 auto dealerships in western Canada, concentrated in the Greater Vancouver area with additional locations in Edmonton, Calgary and Winnipeg. W. P. Carey said the dealerships are net leased to Go Auto, which it described as the 22nd largest tenant by annualized base rent at the time of investment.
The company also said it has about $170 million of capital investments and commitments scheduled to close during the rest of 2026.
On financing, W. P. Carey amended its credit agreement on March 11, 2026, replacing a previously repaid €215 million term loan with a new C$347 million term loan. The new loan carries a floating rate of Term CORRA plus 80 basis points, which the company said worked out to an all-in rate of about 3.1% as of March 30.
The amendment also cut the company’s revolver pricing grid by 5 basis points across all levels.
Chief executive Jason Fox said the company is “tracking well ahead” of its initial target investment pace for the year, citing the deals already closed, the capital projects scheduled for 2026, and the current pipeline. Today the company's shares have moved 0.27% to a price of $67.62. If you want to know more, read the company's complete 8-K report here.
