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Shareholders Approve WP Carey Merger, REIT Status

NEW YORK CITY-The company will complete its acquisition of Corporate Property Associates 15 and convert to a REIT, expected to close on Sept. 28, according to a company statement.

By Jacqueline Hlavenka | Updated on September 14, 2012

(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.

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