NEW YORK, Jan. 10, 2022 /PRNewswire/ -- W. P. Carey Inc.
(NYSE: WPC), a leading net lease REIT specializing in corporate
sale-leasebacks, build-to-suits and the acquisition of
single-tenant net lease properties, today announced record
investment volume for the 2021 full year of $1.73 billion, including investments totaling
approximately $530 million completed
during the fourth quarter.
While the company's diversified approach provides a vast
addressable market over two continents, during 2021 the company
continued to see the best opportunities in warehouse and industrial
assets, which comprised approximately 70% of its full year
investment volume. From a geographical perspective, approximately
60% of its 2021 investment volume was in the U.S. and 40% was in
Investments completed in 2021 also continued to support
internally-driven growth, with all leases providing either fixed
rent escalations (averaging 2.3%) or rent increases tied to
inflation, and enhanced portfolio quality, with a weighted-average
lease term of approximately 20 years.
"In line with our expectations and supported by our access to
well-priced capital, we maintained an accelerated pace of deal
closings during the fourth quarter, completing a record year for
investment volume and establishing a new chapter of
externally-driven growth for W. P. Carey," said Jason Fox, Chief Executive Officer of W. P.
Carey. "I'm also pleased to confirm that the strong deal momentum
that characterized 2021 is being sustained in the new year, with a
growing number of deal closings scheduled for the first quarter and
an actively building pipeline of new opportunities."
Gino Sabatini, Head of
Investments, W. P. Carey, added: "Corporate leaders are
increasingly recognizing the benefits of sale-leasebacks as a means
of unlocking the value of their critical operating real estate.
This, coupled with W. P. Carey's long track record of timely
execution and our ability to provide certainty of close, enabled us
to work with new and existing tenants to close a record volume of
transactions in 2021."
W. P. Carey Inc.
W. P. Carey Inc. ranks among the largest net lease REITs with an
enterprise value of approximately $20
billion and a diversified portfolio of
operationally-critical commercial real estate that includes 1,264
net lease properties covering approximately 152 million square feet
as of September 30, 2021. For nearly
five decades, the company has invested in high-quality
single-tenant industrial, warehouse, office, retail and
self-storage properties subject to long-term net leases with
built-in rent escalators. Its portfolio is located primarily in the
U.S. and Northern and Western
Europe and is well-diversified by tenant, property type,
geographic location and tenant industry.
This press release may contain forward-looking statements
within the meaning of U.S. Federal securities laws. The comments of
Mr. Fox and Mr. Sabatini are examples of forward-looking
statements. A number of factors could cause W. P. Carey's
actual results, performance or achievement to differ materially
from those anticipated. Among those risks, trends and uncertainties
are the general economic climate, including the continuing impact
of COVID-19; the supply of and demand for commercial properties;
interest rate levels; and other risks associated with the
acquisition and ownership of properties, including risks that the
tenants will not pay rent, or that costs may be greater than
anticipated. For further information on factors that could impact
W. P. Carey, reference is made to its filings with the U.S.
Securities and Exchange Commission.
1 (212) 492-1110
W. P. Carey Inc.
1 (212) 492-8920
1 (212) 492-1166
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SOURCE W. P. Carey Inc.