W. P. Carey Inc. (NYSE: WPC) announced year-to-date investment volume of approximately $1.1 billion, including $400 million completed since reporting first quarter 2026 results on April 28.

The real estate investment trust closed a sale-leaseback transaction on May 8 with GardenCore, formerly Oldcastle Lawn & Garden, involving a 43-property manufacturing portfolio. GardenCore manufactures lawn and garden consumables including mulch, soil, stone and lime products.

The portfolio spans 24 states and operates under a 20-year triple-net master lease with fixed annual rent escalations. The properties represent GardenCore's entire owned real estate portfolio. Pacific Avenue Capital Partners acquired GardenCore through a corporate carve-out from CRH's packaged mulch, soil and stone business.

At the time of investment, GardenCore ranked among W. P. Carey's top 10 largest tenants by annualized base rent.

Based on completed investments, scheduled capital commitments for the remainder of 2026, and its investment pipeline, W. P. Carey stated it has visibility into investment volume totaling approximately $1.5 billion.

The company operates as a net lease REIT with 1,703 net lease properties covering approximately 185 million square feet as of March 31, 2026. W. P. Carey maintains offices in New York, London, Amsterdam and Dallas, focusing primarily on single-tenant industrial, warehouse and retail properties in the United States and Europe under long-term net leases with built-in rent escalations.