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W. P. Carey Inc. announced that tenant Hellweg Die Profi-Baumärkte GmbH & Co. KG filed for insolvency under…
WPCW. P. Carey Inc.
W. P. Carey Inc. announced that tenant Hellweg Die Profi-Baumärkte GmbH & Co. KG filed for insolvency under self-administration on June 16, 2026. The company leases 16 properties to Hellweg, totaling approximately $15.2 million in annualized base rent. W. P. Carey has secured binding agreements to re-lease eight of these stores, representing $7.4 million in annualized base rent, with downtime estimated between three and nine months. The company is negotiating the re-lease or sale of the remaining eight stores. Despite an estimated $8 million to $12 million potential rent loss from this credit event, W. P. Carey is maintaining its full-year 2026 AFFO guidance of $5.16 to $5.26 per diluted share. W. P. Carey Inc. is a real estate investment trust that owns and manages a diversified portfolio of properties.