W. P. Carey Inc., a global net-lease real estate investment trust (REIT) specializing in corporate sale-leaseback financing, has acquired the Temple, Ga., property that houses the headquarters and two manufacturing facilities of Janus International Group LLC, a manufacturer of self-storage roll-up doors and building components. The $17 million transaction was made on behalf of CPA:18 – Global, one of W.P. Carey’s managed REITs.
The three facilities, which total 362,000 square feet, will be leased to Janus for a period of 20 years. The company also has manufacturing plants in Houston as well as Surprise, Ariz., and distribution centers in California, Florida, Mexico and South Africa.
"In the Janus transaction, we combined our real estate and industry experience with our financial-structuring expertise to address the specific needs of the company and its owners,” said W. P. Carey Executive Director Kathleen Barthmaier. "Given Janus’ leading position in the roll-up door market, the criticality of the assets themselves and the sponsorship support of an established private-equity firm, the investment had the characteristics we look for when sourcing investments for our portfolios."
CPA:18 – Global is a publicly held, non-traded REIT.
New York-based W. P. Carey is an investment-management company that oversees a global investment portfolio of approximately $15.4 billion. It provides companies worldwide with long-term sale leaseback and build-to-suit financing, and engages in other types of real estate-related investment.
Janus was acquired by Saw Mill Capital Partners LP, a private equity investment fund managed by Saw Mill Capital LLC, in late 2013. Established in 1997 and based in Briarcliff Manor, N.Y., Saw Mill Capital is an operations-oriented private equity firm focused on acquiring businesses with $40 million to $150 million in revenue that can be meaningfully grown organically and through acquisitions. The company partners with senior leadership teams to make control investments in businesses headquartered in North America, bringing capital and unique resources to help companies reach their full potential.