W P Carey acquires meat processing facilities

Investment firm W P Carey & Co LLC has acquired Mountain City Meat Co's Denver CO facility and O'Charley's Inc's Nashville TN facility, on behalf of its publicly held, non-traded REIT CPA:16-Global.

Headquartered in Denver, Mountain City Meat is a beef processor, supplying a range of custom cuts of steak and ground beef to restaurant, foodservice, and retail customers. O'Charley's, a Nashville-based multi-concept restaurant company, has historically produced its own beef and other food products for use by its restaurants but decided to exit the production business and sell its plant.

W P Carey purchased the two meat processing facilities, which total about 250,000 square feet, for approximately $9 million each and will lease them to Mountain City Meat.