PR Newswire
NEW YORK, April 4, 2019
NEW YORK, April 4, 2019 /PRNewswire/ -- W. P. Carey Inc. (NYSE: WPC), a leading net lease REIT specializing in corporate sale-leasebacks, build-to-suits and the acquisition of single-tenant net lease properties, today announced recent investments totaling approximately $188 million, all of which were completed during the first quarter of 2019. The investments comprise mission-critical properties triple-net leased to industry-leading tenants with a weighted-average lease term of more than 15 years.
The transactions include:
Gino Sabatini, Head of Investments, W. P. Carey, said: "These transactions establish a strong start to our year and underscore W. P. Carey's commitment to a diversified investment approach. Our access to capital and reputation for providing certainty of close to sellers positions us as the preferred capital source for a wider and deeper pool of opportunities across diverse tenants and asset types. We look forward to deepening our relationship with our newest tenants and supporting their ongoing growth objectives."
W. P. Carey Inc.
W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $17 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,163 net lease properties covering approximately 131 million square feet. For over four decades, the company has invested in high-quality single-tenant industrial, warehouse, office and retail properties subject to long-term leases with built-in rent escalators. Its portfolio is located primarily in the U.S. and Northern and Western Europe and is well-diversified by tenant, property type, geographic location and tenant industry.
www.wpcarey.com
This press release contains forward-looking statements within the meaning of U.S. Federal securities laws. The comments of Mr. Sabatini are examples of forward looking statements. A number of factors could cause W. P. Carey's actual results, performance or achievement to differ materially from those anticipated. Among those risks, trends and uncertainties are the general economic climate; the supply of and demand for commercial properties; interest rate levels; and other risks associated with the acquisition and ownership of properties, including risks that the tenants will not pay rent, or that costs may be greater than anticipated. For further information on factors that could impact W. P. Carey, reference is made to its filings with the U.S. Securities and Exchange Commission.
Media Contacts:
Guy Lawrence
Ross & Lawrence
+1 212-308-3333
[email protected]
Anna McGrath
W. P. Carey Inc.
+1 212-492-1166
[email protected]
Institutional Investors:
Peter Sands
+1 212-492-1110
[email protected]
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SOURCE W. P. Carey Inc.
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