W. P. Carey Inc. (NYSE: WPC) has acquired eight retail stores in Croatia for about $46 million.
W.P. Carey is a real estate investment trust based in New York.
The stores are located in the towns surrounding Zagreb and tourist destinations along the Adriatic coast and will be leased to Konzum, a food and beverage company.
W.P. Carey started trading as a real estate investment trust in October, after merging with its publicly-held non-traded REIT affiliate, Corporate Property Associates 15 Inc. The company picked up six properties for $32 million in September.