W. P. Carey & Co. LLC operates as a real estate advisory and investment company that invests primarily in commercial properties that are each triple-net leased to single corporate tenants, domestically and internationally. Its real estate investment portfolio consists primarily of single-tenant commercial real property. The company has two business segments, management services and real estate operations. Management Services This segment includes management services performed for the CPA REITs pursuant to advisory agreements. Under the advisory agreements with the CPA REITs, it performs various services, including the day-to-day management of the CPA REITs and transaction-related services. The company has investments in self-storage real estate properties. The company is the advisor to various CPA REITs, including Corporate Property Associates 14 Incorporated (CPA:14), Corporate Property Associates 15 Incorporated (CPA:15) and Corporate Property Associates 16 – Global Incorporated (CPA:16 – Global). It also holds ownership interests in these CPA REITs accounted for under the equity method of accounting. Real Estate Operations The company invests in commercial properties that are leased to companies domestically and internationally, primarily on a single-tenant, triple-net leased basis. This business segment includes the operations of properties under operating leases, properties under direct financing leases, real estate under construction and development, operating real estate, assets held for sale and equity investments in real estate in ventures accounted for under the equity method. Self-Storage Investments In November 2006, the company formed a subsidiary, Carey Storage, for the purpose of investing in self-storage real estate properties and their related businesses within the United States. In January and February 2007, Carey Storage acquired three domestic self-storage properties. The company formed Corporate Property Associates 17 – Global Incorporated (CPA:17) in February 2007 for the purpose of investing in a diversified portfolio of income-producing commercial properties and other real estate related assets, both domestically and outside the United States. Portfolio As of December 31, 2006, the company’s portfolio included 187 properties leased to 111 tenants, totaling approximately 18 million square feet. History W. P. Carey & Co. LLC was founded in 1973.
wp carey inc (WPC:New York)
50 Rockefeller Plaza
New York, NY 10020
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