State of Andalusia completed the acquisition of a portfolio of 70 office properties from W. P. Carey for $359m.

State of Andalusia completed the acquisition of a portfolio of 70 office properties from W. P. Carey, a real estate investment trust company, for $359m. "The sale of our largest office asset, along with the progress we've made to date executing on our strategic plan to exit office, has reduced our office exposure to less than 3% of our total ABR. And we expect that number to further decline over the near term as we complete the remaining sales under the Office Sale Program, at which point over 60% of our ABR will come from industrial and warehouse assets, on a portfolio that remains well diversified with a weighted-average lease term over 11 years and rent growth that we believe will be among the strongest in the net lease sector," Jason Fox, W. P. Carey CEO.