Total Investments and Commitments Approx $700 million Year-to-Date
Additional Pipes from Over $300 million in Active Deals
NEW YORK, June 3, 2024 /PRNewswire/ — WP Carey (NYSE: ) Inc. (WP CareyNYSE: WPC), a leading net leasing REIT specializing in corporate sale-leasebacks, build-to-suits and acquisitions of single-tenant net lease properties, today announced an investment totaling approx. $258 millionincluded $142 million from recently completed investments and commitments to acquire additional $116 million. In conjunction with previously announced investments, capital projects to be completed in 2024 and a short-term pipeline, the company now has visibility into investments in total $1 billion.
Investments that have recently been completed include the $74 million acquisition of TPG Angelo Gordon from a portfolio of 10 industrial facilities including approximately 1.1 million square feet and located in the right ACE As part of the same transaction, WP Carey agreed to acquire an additional nine industrial properties totaling approximately 2 million square feet for $116 million by August 2024subject to certain customary closing conditions.
Separate, WP Carey acquired three properties located in Arizonaincluding a newly constructed Class-A distribution center of approximately 300,000 square feet for $40 million and two fitness facilities are leased to existing tenants for $28 million.
Jason FoxManaging Director, WP Carey said: “We are pleased to announce the new addition over $250 million in new and committed investments, which in conjunction with those completed earlier in the year and capital projects scheduled to be completed in 2024, deploys approximately $700 million capital into new investments. Our investment pipeline also continues to grow and now includes over $300 million of late-stage deals, so we continue to be well within our full-year guidance range for investment volumes.
WP Carey Inc.
WP Carey ranks among the largest net lease REITs with a portfolio of high-quality, operationally critical commercial properties, including 1,282 net lease properties totaling approximately 168 million square feet and a portfolio of 89 self-storage operating properties since March 31, 2024. With the office at New York, London, Amsterdam and Dallasthe company remains focused on investing mainly in single tenant, industrial, warehouse and retail properties located in ACE and Northern and Western Europein long-term net rent with rent escalations built in.
www.wpcarey.com
This press release may contain forward-looking statements in its meaning ACE Federal securities laws. Comment from Mr. Fox is an example of a forward-looking statement. Several factors can cause it WP Carey actual results, performance or achievements to differ materially from those anticipated. Other unknown or unpredictable risks or uncertainties, such as risks related to fluctuating interest rates, the impact of inflation on our tenants and us, the effects of global pandemics and infectious disease outbreaks, and domestic or geopolitical crises, such as terrorism, military conflict. , war or the perception that hostilities may occur, political instability or civil unrest, or other conflicts, and additional risk factors discussed in the report that has been filed with Securities and Exchange Commission (SEC), may also have a negative impact on our future results, performance or achievements. Discuss some other important factors and assumptions involved in the WP Carey filing with SEC and available at SEC’s website at http://www.sec.gov, including Part I, Item 1A. Risk Factors in WP Carey’s Annual Report on Form 10-K for the fiscal year just ended December 31, 2023.
Institutional Investors:
Peter Sands1 (212) 492-1110
institutionalir@wpcarey.com
Individual investors:
WP Carey Inc.
1 (212) 492-8920
ir@wpcarey.com
Contact Press:
Anna McGrath1 (212) 492-1166
amcgrath@wpcarey.com
