Previously, DuGan headed up the firm's acquisitions group, overseeing more than $1.5 billion in investments over a three-year period. Since assuming the title of president in 1999, he played a pivotal role in the creation and public listing of W. P. Carey & Co. LLC on the New York Stock Exchange, following the 2000 merger of Carey Diversified LLC and W. P. Carey & Co. Inc. He recently coordinated the $172 million commercial mortgage-backed securitization (CMBS) of properties owned by the W. P. Carey Group.

DuGan will continue to serve as president. In addition, he serves as Vice Chairman/Co- Chief Executive Officer of the W. P. Carey family of REITs, which include Carey Institutional Properties, CPA 12, CPA 14 and its newest fund, CPA 15.

"At W. P. Carey we have never lost sight of the individual investor and remain committed to running our business like owners," says DuGan. " W.P. Carey has a long history of being innovators, and as Co-CEO I will do my best to ensure that we continue to meet the expectations of our investors, as well as those of our tenant companies. I truly believe the best is yet to come."