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Harris Forecasts Record Year for W.P. Carey Acquisitions

NEW YORK CITY-Benjamin P. Harris is promoted to director in the investment firm's acquisitions department, which expects volume records for 2002. He tells GlobeSt.com that a dip in the economy prompts a move towards liquidity by below-investment grade companies, making for an active sale/leaseback environment.

By Michael Gilliard | Updated on August 06, 2002

NEW YORK CITY-Investment firm W.P. Carey & Co. promotes Benjamin P. Harris as director in their 15-staff acquisitions department. Harris tells GlobeSt.com that a skittish economy tends to prompt below investment-grade companies to liquidize assets, providing for a fertile sale/leaseback environment. Acquisitions volume for 2002 within the company has already surpassed last year’s totals, and Harris expects to set acquisitions volume records this year.

“An empty building leased out to someone often presents a very attractive situation for tenants to structure a triple-net lease on the property in an effort to add liquidity to their portfolio,” Harris tells GlobeSt.com. With this new title, he will focus his efforts on the firm’s current active investment fund, CPA: 15.

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