Cargotec has on Tuesday, 4 June 2013, signed an agreement to sell Technology and Competence Centre facilities in Tampere, Finland to W.P. Carey, a real estate investment trust in the United States. Cargotec will continue its business at the premises as leaseholder with a 20-year contract. The transaction value is approximately EUR 38.5 million with no material impact on Cargotec’s Q2 profitability.
This agreement aligns with Cargotec’s aim of focusing on its core businesses, offering optimum cargo handling solutions to customers. Cargotec has invested in the construction of the Tampere Technology and Competence Centre, one of the most energy-efficient office buildings in Finland, over the period 2011-2013. In March, the centre was awarded the international BREEAM environmental certificate.
W. P. Carey Inc. is a publicly traded real estate investment trust in the United States that provides long-term sale-leaseback and build-to-suit financing for companies worldwide and manages an investment portfolio of approximately USD 15.2 billion.