W. P. Carey Selected as 2024 Green Lease Leader

Rhea-AI Summary

W. P. Carey (WPC) achieves Gold recognition as a 2024 Green Lease Leader by the Institute for Market Transformation and the U.S. Department of Energy. The company executed 45 green leases in 2023, totaling 13.8 million square feet of assets. W. P. Carey focuses on environmental stewardship, carbon emission reduction, and energy efficiency through green leasing practices.

Positive

• W. P. Carey (WPC) achieves Gold recognition as a 2024 Green Lease Leader
• Company executed 45 green leases in 2023, totaling 13.8 million square feet of assets
• Focus on environmental stewardship, carbon emission reduction, and energy efficiency through green leasing practices

Negative

• None.

Third Consecutive Year Achieving Gold Recognition 

NEW YORK, April 4, 2024 /PRNewswire/ -- W. P. Carey (W. P. Carey,  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 it has been named a 2024 Green Lease Leader by the Institute for Market Transformation (IMT) and the U.S. Department of Energy's (DOE) Better Buildings Alliance. 

Launched in 2014, Green Lease Leaders sets standards for what constitutes a green lease, while recognizing landlords and tenants who modernize their leases to spur collaborative action on energy and water efficiency, cost savings, air quality improvement and sustainability in buildings.

W. P. Carey achieved Gold recognition for green leasing by qualifying for credits in energy efficiency and sustainability best practices such as utility data tracking, cost recovery for capital improvements, annual tenant disclosure of environmental metrics and required minimum energy efficiency fit-out guidelines.

Brooks Gordon, Head of Asset Management, W. P. Carey, said: "We're proud to be recognized as a leader in environmental stewardship and we're committed to reducing the carbon emissions of our portfolio. Green leasing is core to our strategy – enabling us to improve visibility into our portfolio's power consumption, which facilitates engagement with our tenants on sustainable initiatives. We seek to include green lease provisions into all new leases as part of our proactive approach to drive emissions reduction and energy efficiency across our portfolio."

In 2023, W. P. Carey executed 45 green leases totaling 13.8 million square feet of assets.

For more information on W. P. Carey's broader ESG strategy, view our most recent ESG Report.

W. P. Carey Inc.

W. P. Carey ranks among the largest net lease REITs with a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,424 net lease properties covering approximately 173 million square feet and a portfolio of 89 self-storage operating properties as of December 31, 2023. With offices in New York, London, Amsterdam and Dallas, the company remains focused on investing primarily in single-tenant, industrial, warehouse and retail properties located in the U.S. and Northern and Western Europe, under long-term net leases with built-in rent escalations.

www.wpcarey.com

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

View original content to download multimedia:https://www.prnewswire.com/news-releases/w-p-carey-selected-as-2024-green-lease-leader-302107419.html

SOURCE W. P. Carey Inc.

FAQ

What recognition did W. P. Carey achieve in 2024?

W. P. Carey achieved Gold recognition as a 2024 Green Lease Leader.

How many green leases did W. P. Carey execute in 2023?

W. P. Carey executed 45 green leases in 2023, totaling 13.8 million square feet of assets.

What is the focus of W. P. Carey's environmental strategy?

W. P. Carey focuses on environmental stewardship, carbon emission reduction, and energy efficiency through green leasing practices.