W. P. Carey Announces Recent Investments Totaling Approximately $400 Million
W. P. Carey Announces Recent Investments Totaling Approximately $400 Million
PR Newswire
NEW YORK, June 7, 2022
NEW YORK, June 7, 2022 /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 that since the end of the first quarter it has entered into investments totaling approximately $400 million. This includes investments totaling approximately $168 million under binding agreements and expected to close in 2022, with the significant majority expected to close by the end of July, subject to certain customary closing conditions.
The investments advance the company's external growth strategy and in line with its diversified approach, include investments in industrial, grocery and lab properties located in the US and Europe.
W. P. Carey Inc.
W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $22 billion and a diversified portfolio of operationally critical commercial real estate that includes 1,336 net lease properties covering approximately 157 million square feet as of March 31, 2022. For nearly five decades, the company has invested in high-quality single-tenant industrial, warehouse, office, retail and self-storage properties subject to long-term net 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.
This press release may contain forward-looking statements within the meaning of U.S. Federal securities laws. 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, including the continuing impact of the COVID-19 pandemic; 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.
Institutional Investors:
Peter Sands
1 (212) 492-1110
[email protected]
Individual Investors:
W. P. Carey Inc.
1 (212) 492-8920
[email protected]
Press Contact:
Anna McGrath
1 (212) 492-1166
[email protected]
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SOURCE W. P. Carey Inc.
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