W.P. Carey Board Elects DuGan Co-CEO

NEW YORK CITY-Sale-leaseback specialist W.P. Carey & Co. LLC’s board of directors has elected company president Gordon F. DuGan to the position of co-chief executive officer of the firm. DuGan, 36, will direct the company’s corporate strategies with chairman Wm. Polk Carey.

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.