As of December 31, 2019, the company owned 1,214 properties in 25 countries leased to 345 tenants. Approximately 64% of the company's revenue is derived in United States and 36% in Europe.[1]
In the early 1980s, the company was innovative in the use of leaseback transactions to acquire properties.[2]
In 1982, the company acquired three Gibson manufacturing and warehouse buildings from Wesray Capital Corporation.[2]
In March 2009, the company bought 21 floors of the 52-story New York Times Building on Eighth Avenue in Manhattan for $225 million in a leaseback transaction in which The New York Times agreed to lease space in the building for up to 15 years, while retaining the right to buy the building back in 2019 for $250 million.[2][3] In 2019, the New York Times Company indeed opted to buy back the floors.[4]
In 2012, company founder William P. Carey died.[2] The company also merged with its non-traded real estate investment trust affiliate, Corporate Property Associates 15, and reorganized into a real estate investment trust.[5][6]
In 2014, the company merged with Corporate Property Associates 16, one of its non-traded REIT affiliates.[7] The company also acquired a portfolio of properties in Australia for $138 million in a leaseback transaction.[8]
In 2016, the company acquired three properties leased to Nord Anglia Education for $167 million[9] and a portfolio of properties in North America leased to ABC Group for $145 million in a leaseback transaction.[10]
In 2017, the company stopped sponsoring non-public REITs and liquidated or began the phase-out of the funds that it managed.[11]
In 2018, the company merged with CPA:17 - Global.[7]
In September 2023, the company announced it would exit the office property market by spinning off many of its office properties into a separately traded company (Net Lease Office Properties) and selling the remainder.[12]
^ abcdeHEVESI, DENNIS (January 8, 2012). "William P. Carey, Leader in Commercial Real Estate, Dies at 81". The New York Times.
^PÉREZ-PEÑA, RICHARD (March 9, 2009). "Times Co. Building Deal Raises Cash". The New York Times.
^Peiser, Jaclyn (2019-02-06). "The New York Times Co. Reports $709 Million in Digital Revenue for 2018". The New York Times. ISSN 0362-4331. Retrieved 2023-09-14.
^Fung, Amanda (September 14, 2012). "W.P. Carey will be reborn as a REIT". Crain Communications.
^Slatin, Peter (February 21, 2012). "Carey Goes REIT". Forbes.
^ ab"Company Timeline - W. P. Carey Inc". www.wpcarey.com. Retrieved 2019-12-19.
^Inc, W. P. Carey. "W. P. Carey Inc. Announces $138 Million Acquisition of Inghams' Portfolio of Australian Properties". www.prnewswire.com (Press release). Retrieved 2019-12-19. {{cite press release}}: |last= has generic name (help)
^Inc, W. P. Carey. "W. P. Carey Inc. Announces $167 Million of Sale-Leaseback Transactions with Nord Anglia". www.prnewswire.com (Press release). Retrieved 2019-12-19. {{cite press release}}: |last= has generic name (help)
^Inc, W. P. Carey. "W. P. Carey Inc. Announces $145 Million Agreement for Sale-Leaseback of 15-Property Vertically Integrated Industrial Portfolio". www.prnewswire.com (Press release). Retrieved 2019-12-19. {{cite press release}}: |last= has generic name (help)
^"Press Release - W. P. Carey". ir.wpcarey.com. Retrieved 2019-12-19.
^Seeking Alpha. "W.P. Carey to leave office sector through spinoff and asset sales". www.msn.com. Retrieved 2023-11-03.
External linksedit
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Business data for W. P. Carey Inc.:
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January 01, 1970
carey, this, article, multiple, issues, please, help, improve, discuss, these, issues, talk, page, learn, when, remove, these, template, messages, major, contributor, this, article, appears, have, close, connection, with, subject, require, cleanup, comply, wit. This article has multiple issues Please help improve it or discuss these issues on the talk page Learn how and when to remove these template messages A major contributor to this article appears to have a close connection with its subject It may require cleanup to comply with Wikipedia s content policies particularly neutral point of view Please discuss further on the talk page November 2019 Learn how and when to remove this message This article needs additional citations for verification Please help improve this article by adding citations to reliable sources Unsourced material may be challenged and removed Find sources W P Carey news newspapers books scholar JSTOR November 2019 Learn how and when to remove this message Learn how and when to remove this message W P Carey is a real estate investment trust that invests in properties leased to single tenants via NNN leases 1 The company is organized in Maryland with its primary office in New York City 1 W P Carey Inc Company typePublic companyTraded asNYSE WPCS amp P 400 componentIndustryReal estate investment trustFounded1973 51 years ago 1973 FounderWilliam P CareyHeadquartersNew York CityKey peopleChristopher J Niehaus Chairman Jason E Fox CEO ToniAnn Sanzone CFO RevenueUS 1 232 billion 2019 Net incomeUS 0 305 billion 2019 Total assetsUS 14 060 billion 2019 Total equityUS 6 948 billion 2019 Number of employees204 2019 Websitewpcarey wbr comFootnotes references 1 As of December 31 2019 the company owned 1 214 properties in 25 countries leased to 345 tenants Approximately 64 of the company s revenue is derived in United States and 36 in Europe 1 History editThe company was founded in 1973 by William P Carey 2 In the early 1980s the company was innovative in the use of leaseback transactions to acquire properties 2 In 1982 the company acquired three Gibson manufacturing and warehouse buildings from Wesray Capital Corporation 2 In March 2009 the company bought 21 floors of the 52 story New York Times Building on Eighth Avenue in Manhattan for 225 million in a leaseback transaction in which The New York Times agreed to lease space in the building for up to 15 years while retaining the right to buy the building back in 2019 for 250 million 2 3 In 2019 the New York Times Company indeed opted to buy back the floors 4 In 2012 company founder William P Carey died 2 The company also merged with its non traded real estate investment trust affiliate Corporate Property Associates 15 and reorganized into a real estate investment trust 5 6 In 2014 the company merged with Corporate Property Associates 16 one of its non traded REIT affiliates 7 The company also acquired a portfolio of properties in Australia for 138 million in a leaseback transaction 8 In 2016 the company acquired three properties leased to Nord Anglia Education for 167 million 9 and a portfolio of properties in North America leased to ABC Group for 145 million in a leaseback transaction 10 In 2017 the company stopped sponsoring non public REITs and liquidated or began the phase out of the funds that it managed 11 In 2018 the company merged with CPA 17 Global 7 In September 2023 the company announced it would exit the office property market by spinning off many of its office properties into a separately traded company Net Lease Office Properties and selling the remainder 12 References edit a b c d W P Carey Inc 2019 Form 10 K Annual Report U S Securities and Exchange Commission a b c d e HEVESI DENNIS January 8 2012 William P Carey Leader in Commercial Real Estate Dies at 81 The New York Times PEREZ PENA RICHARD March 9 2009 Times Co Building Deal Raises Cash The New York Times Peiser Jaclyn 2019 02 06 The New York Times Co Reports 709 Million in Digital Revenue for 2018 The New York Times ISSN 0362 4331 Retrieved 2023 09 14 Fung Amanda September 14 2012 W P Carey will be reborn as a REIT Crain Communications Slatin Peter February 21 2012 Carey Goes REIT Forbes a b Company Timeline W P Carey Inc www wpcarey com Retrieved 2019 12 19 Inc W P Carey W P Carey Inc Announces 138 Million Acquisition of Inghams Portfolio of Australian Properties www prnewswire com Press release Retrieved 2019 12 19 a href Template Cite press release html title Template Cite press release cite press release a last has generic name help Inc W P Carey W P Carey Inc Announces 167 Million of Sale Leaseback Transactions with Nord Anglia www prnewswire com Press release Retrieved 2019 12 19 a href Template Cite press release html title Template Cite press release cite press release a last has generic name help Inc W P Carey W P Carey Inc Announces 145 Million Agreement for Sale Leaseback of 15 Property Vertically Integrated Industrial Portfolio www prnewswire com Press release Retrieved 2019 12 19 a href Template Cite press release html title Template Cite press release cite press release a last has generic name help Press Release W P Carey ir wpcarey com Retrieved 2019 12 19 Seeking Alpha W P Carey to leave office sector through spinoff and asset sales www msn com Retrieved 2023 11 03 External links editOfficial website Business data for W P Carey Inc BloombergGoogleSEC filingsYahoo Retrieved from https en wikipedia org w index php title W P Carey amp oldid 1221921985, wikipedia, wiki, book, books, library,
