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