Buy-leaseback Deal for 6 Kings Units to Help Fund Acquisition
NEW YORK -- Investment firm W.P. Carey & Co., LLC here said yesterday that it completed a $48.4 million sale-leaseback transaction with Kings Super Markets, Inc., the proceeds from which helped finance the $61.5 million acquisition of Kings by an investor group comprising Angelo, Gordon & Co.; MTN Capital Partners, LLC; and industry veteran Bruce Weitz, the ex-c.e.o. of Duane Reade and ex-president of First National Supermarkets, who will become the new chairman of Kings.