Source:
https://scmp.com/property/international/article/1658706/andalusia-sells-spanish-real-estate-wp-carey-eu300m
Property/ International

Andalusia sells Spanish real estate to WP Carey for €300m

The Andalusian regional government sold 70 buildings to a unit of New York-based WP Carey. Photo: Bloomberg

The Spanish region of Andalusia agreed to sell real estate to WP Carey for €300 million (HK$2.9 billion) in a sale-and-leaseback deal that is the largest-ever for public property in the country.

The Andalusian regional government sold 70 buildings to a unit of New York-based WP Carey, according to a statement posted on its website. Andalusia will rent the properties back for €23.6 million annually over a 20-year period.