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W.P. Carey FFO per Share Increases More Than 7% in Q3

NEW YORK CITY-Third-quarter highlights include sales-leasebacks and build-to-suit transactions amounting to $95 million. The firm also sold three AutoZone stores and four Payless ShoeSource outlets.

By John Howe | Updated on November 16, 2000

NEW YORK CITY-W.P. Carey, based here, which specializes in corporate real estate financing via sale-leaseback, announced three month FFO of $19.5 million or 57 cents per share, an increase of 9.6% per share compared to last year’s Q3 performance of $13.4 million or 52 cents per share. FFO for the first nine months of 2000 rose from $39.3 million ($1.54 per share) to $46.7 million ($1.65 per diluted share), an increase of just over 7% on a per share basis.

Third-quarter highlights include $95 million in sale-leaseback and build-to-suit transactions for facilities leased to Celestica, U.S. Home Corp., Buffets Inc., AdvancePCS and Transcore Holdings Inc. on behalf of Corporate Property Associates. It also completed a $3.3 million sale-leaseback of a property leased to Universal Technical Institute on behalf of Carey Institutional properties, a REIT managed by W.P. Carey.

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