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WP Carey Looks to International Arena

NEW YORK CITY-WP Carey sees more opportunities in the international arena. Last year was the first year the company's international investments accounted for more than 50% of total investments.

By Barbara Jarvie | Updated on March 05, 2006

NEW YORK CITY-”Our pipeline is very strong,” said Gordon F. DuGan, president and chief executive officer of WP Carey & Co. LLC, during the company’s fourth-quarter and full-year results conference call. “Despite particularly competitive environment, we find attractive opportunities due to our differentiated and disciplined investment process.”

The firm reported revenues of $41.9 million and $174.1 million and net income of $11.5 million and $48.6 million for the three- and twelve-month periods ended December 31, 2005. “Our most important asset in a very competitive process. Market presence and brand reputation–built up over many years,” added DuGan. “International investment sale/leaseback is most transferable discipline in arena. it’s a complementary part of business and accounted for over 50% of our investment for the first time last year. The company also made its first investments in Mexico and Canada last year. The primary driver of our business is our investment perspective.”

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