W. P. Carey
| Company type | Public company |
|---|---|
| Industry | Real estate investment trust |
| Founded | 1973 |
| Founder | William P. Carey |
| Headquarters | |
Key people | Christopher J. Niehaus (Chairman) Jason E. Fox (CEO) ToniAnn Sanzone (CFO) |
| Revenue | US$1.583 billion (2024) |
| US$460 million (2024) | |
| Total assets | US$17.535 billion (2024) |
| Total equity | US$8.429 billion (2024) |
Number of employees | 203 (2024) |
| Website | wpcarey |
| Footnotes / references [1] | |
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]
As of December 31, 2024, the company owned 1,555 properties in 26 countries leased to 355 tenants. Approximately 61% of the company's revenue is derived in United States and 33% in Europe.[1]
History
The company was founded in 1973 by William P. Carey.[2][3]
In the early 1980s, the company was innovative in the use of leaseback transactions to acquire properties.[2]
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.[4][5]
In October 2018, the company merged with CPA:17 - Global.[6][7]
In November 2023, the company completed the corporate spin-off of its office properties.[8][9]
References
- ^ a b c d "W. P. Carey Inc. 2024 Form 10-K Annual Report". U.S. Securities and Exchange Commission. February 12, 2025.
- ^ a b c HEVESI, DENNIS (January 8, 2012). "William P. Carey, Leader in Commercial Real Estate, Dies at 81". The New York Times.
- ^ "ASU's W.P. Carey School namesake dead at 81". American City Business Journals. January 3, 2012.
- ^ 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.
- ^ Linnane, Ciara (June 18, 2018). "W.P. Carey and Corporate Property Associates to merge in deal valued at about $6 billion". MarketWatch.
- ^ "W. P. Carey Completes $5.9 Billion Merger with CPA®:17" (Press release). PR Newswire. October 31, 2018.
- ^ "W. P. Carey Announces Completion of Spin-Off of Net Lease Office Properties" (Press release). PR Newswire. November 1, 2023.
- ^ Linnane, Ciara (September 21, 2023). "W.P. Carey to spin off 59 office properties into new publicly traded REIT". MarketWatch.
External links
- Official website
- Business data for W. P. Carey Inc.: