Search
 

W.P. Sees $1B in Sale/Leaseback Deals in '02

NEW YORK CITY-During its annual shareholders meeting, W.P. Carey's president Gordon F. DuGan reported the firm broke records last year with $1 billion in sale/leaseback transactions; 2003 is also off to a record-breaking start with $272 million in similar deals.

By Diana M. Rodriguez | Updated on June 11, 2003

NEW YORK CITY-W.P. Carey & Co. LLC’s board of directors reported good news to shareholders yesterday at its annual meeting, held here at the Waldorf Astoria. President Gordon F. DuGan said the corporate real estate firm raked in about $1 billion in sale/leaseback transactions and build-to-suit deals, setting a new record for the company.

DuGan went on to note that the first quarter of 2003 is also setting new highs with approximately $272 million in similar transactions already closed. Currently the firm owns $800 million in net-leased real estate and manages $3.8 billion in non-traded net-leased real estate on behalf of CPA REITs.

About 46% of W.P. Carey’s revenues come from rental income at its owned assets, explained DuGan, with the other 54% of revenues being generated at its managed properties.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.