(RealShare New York comes to the Grand Hyatt, New York, NY, October 9.)

NEW YORK CITY- Shareholders have approved W.P. Carey & Co. LLC’s proposed REIT conversion and merger with its non-traded REIT affiliate Corporate Property Associates 15 Inc., paving the way for the company to expand its real estate portfolio and increase market capitalization, the company said Friday morning. The transactions – originally unveiled in February – are expected to close on Sept. 28, and the company plans to elect REIT status and become known as WP Carey Inc. beginning on Oct. 1. It will continue trading on the New York Stock Exchange under the symbol WPC.

Upon completion, WP Carey’s real estate portfolio will go from 14 million square feet to 43 square feet, which will be leased to 135 companies worldwide following the merger. It will have a total equity market capitalization of approximately $3 billion, and a total market capitalization of $5 billion.