Tesco sells than rents back its properties

By: trademagazin Date: 2009. 07. 29. 00:07

The Tesco chains of stores, sells its properties for 63 million euros, and then rents them back in Hungary. Max Curtis, the Global Communications Manager of the company stated that; It is a normal business step, which is in line with the company's strateg

The company aims to improve its liquidity with this step. The buyer is the American W. P Carey & Co. LLC, an investment company which gives financing constructions and arrangements, related to rents back for U.S. and European companies.
W. P Carey & Co. LLC buys businesses and industrial establishments, then rent them back to the seller for 15-20 years, so that all costs related to the maintenance of the facilities will be financed by the tenant – reports Világgazdaság.