Big Law

W.P Carey Inc. Announces Completion of $2.7B Merger with CPA®:18

W. P. Carey Inc. (W. P. Carey,NYSE: WPC), a net lease REIT, today announced the completion of its merger with Corporate Property Associates 18 – Global Incorporated (“CPA:18”).

W. P. Carey believes the primary benefits of the merger include:

  • Immediately accretive to Real Estate AFFO per share, offsetting pre-merger income earned from managing CPA:18

  • Concludes the company’s exit from the non-traded REIT business, incrementally simplifying the company and enhancing its earnings quality

  • Adds a well-diversified and high-quality net lease portfolio that enhances certain portfolio metrics

  • Adds an attractive portfolio of 65 self-storage operating properties

Read the source article at PR Newswire

Leave a Review or Comment

Back to top button