Tesco sells than rents back its properties

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.