W. P. Carey Announces Investments Totaling $200 Million

NEW YORK, Sept. 13, 2021 /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 the recent completion of investments totaling approximately $200 million, primarily comprising Class-A warehouse facilities on long-term net leases.

The investments advance the company's externally driven growth strategy focused on high-quality industrial and warehouse assets, which comprise 70% of the approximately $1.2 billion of investments it has completed year to date.

Included in the recent investments were three Class-A warehouse assets totaling $166 million, the largest of which was the $114 million acquisition of a 1.5 million-square-foot warehouse and distribution facility in Indiana, net leased to an investment-grade leader in the North American consumer packaged food market. It also includes the $27 million sale-leaseback of a 187,000-square-foot temperature-controlled and refrigerated warehouse facility in the largest distribution market within the Minneapolis MSA, net leased to a wholesale distributor of brand-name alcoholic beverages, and the completion of a $25 million 505,000-square-foot warehouse and logistics redevelopment, which is fully leased and expected to receive LEED certification, located in Lehigh Valley, Pennsylvania.

W. P. Carey Inc.

W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $21 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,266 net lease properties covering approximately 150 million square feet as of June 30, 2021. 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 contains 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.

W. P. Carey Inc. Contacts:

Press Contact:
Anna McGrath
W. P. Carey Inc.
212-492-1166 
[email protected]

Institutional Investors:
Peter Sands
W. P. Carey Inc.
212-492-1110
[email protected]

SOURCE W. P. Carey Inc.