W. P. Carey tenant Hellweg files for insolvency; REIT secures backup leases for half the stores

Filed June 17, 2026 · Period ending June 16, 2026 · ~1 min read

Key Changes

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  Hellweg, a German home improvement chain leasing 16 WPC properties ($15.2M annual rent), filed for insolvency on June 16. Rent paid through May; WPC holds three months of bank guarantees.

  Item 7.01 verify on EDGAR →
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  WPC has binding agreements to re-lease eight of the 16 Hellweg stores ($7.4M annual rent) to other home improvement operators at comparable rents, with three to nine months of downtime and free rent periods.

  Item 7.01 verify on EDGAR →
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  Company maintains 2026 AFFO guidance of $5.16 to $5.26 per share. Guidance already includes $8M to $12M in estimated rent loss from tenant credit events, covering potential Hellweg impact.

  Item 7.01 verify on EDGAR →