W. P. Carey Announces Recent Investments Totaling Approximately $400 Million

Rhea-AI Summary

On June 7, 2022, W. P. Carey Inc. (NYSE: WPC) announced investments totaling around $400 million since the end of Q1. This includes approximately $168 million under binding agreements expected to close by the end of July 2022. The investments align with the company's strategy and encompass industrial, grocery, and lab properties in the US and Europe. With an enterprise value of around $22 billion, WPC maintains a diversified portfolio of 1,336 properties across 157 million square feet as of March 31, 2022.

Positive

• Announcement of investments totaling approximately $400 million since Q1.
• About $168 million in binding agreements expected to close in 2022.
• Focus on diversified property types, including industrial and grocery, enhancing portfolio stability.

Negative

• Dependence on future market conditions and economic climate.
• Risks associated with tenant payment defaults and unexpected costs.

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.

www.wpcarey.com 

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
institutionalir@wpcarey.com

Individual Investors:
W. P. Carey Inc.
1 (212) 492-8920
ir@wpcarey.com

Press Contact:
Anna McGrath
1 (212) 492-1166
amcgrath@wpcarey.com

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SOURCE W. P. Carey Inc.

FAQ

What recent investments did WPC announce?

WPC announced investments totaling approximately $400 million since the end of Q1 2022.

How much of WPC's recent investments are under binding agreements?

About $168 million of the recent investments are under binding agreements expected to close by the end of July 2022.

What types of properties is WPC investing in?

WPC is focusing on investments in industrial, grocery, and lab properties located in the US and Europe.

What is the enterprise value of WPC?

WPC has an enterprise value of approximately $22 billion.

How many properties does WPC own?

WPC owns 1,336 net lease properties covering approximately 157 million square feet as of March 31, 2022.