Profile: WP Carey Inc (WPC)
17 May 2019
W. P. Carey Inc. (W.P. Carey), incorporated on February 15, 2012, is a self-managed diversified real estate investment trust (REIT). The Company is an owner and manager of commercial real estate, primarily net leased to companies on a long-term basis. It operates through two segments: Owned Real Estate and Investment Management. As of July 18, 2018, the Company had a portfolio of operationally-critical commercial real estate totaling 922 properties covering approximately 85 million square feet. The Company also acts as an advisor to management business.
Owned Real Estate
The Company owns and invests in commercial properties primarily in the United States and Europe that are then leased to companies, primarily on a triple-net lease basis, which requires the tenant to pay substantially all of the costs associated with operating and maintaining the property. The Company earns lease revenues from its owned and co-owned real estate investments that it controls. In addition, it generates equity earnings through its investments in the shares of the Managed REITs and certain co-owned real estate investments that it does not control. In addition, through its ownership of special member interests in the operating partnerships of the Managed REITs, it participates in the cash flows of those REITs. The Company also owns 36 Do-it-Yourself (DIY) retail properties in the Netherlands.
The Company acts as the advisor to the managed programs. The Company provides various services, including but not limited to the day-to-day management of the managed programs and transaction-related services. The Company structures and negotiates investments and debt placement transactions for the managed programs for which the Company earns structuring revenue. It also manages the portfolios of the managed REITs' real estate investments and the loans made by Carey Credit Income Fund (CCIF), and earns asset-based management revenue. The Company earns dealer manager fees in connection with the public offerings of the Managed programs.
WP Carey Inc
50 Rockefeller Plz
NEW YORK NY 10020-1605