W. P. Carey Announces $33 Million Acquisition of Four Texas

W. P. Carey Announces $33 Million Acquisition of Four Texas Self
Storage Properties 
NEW YORK, NY -- (Marketwire) -- 12/19/12 --  W. P. Carey Inc. (NYSE:
WPC), a real estate investment trust ("REIT"), announced today that
CPA(R):17 - Global, one of its publicly held non-traded REIT
affiliates, has acquired four self storage facilities in western
Texas. The properties comprise a total of 361,490 square feet and are
located in Midland and Odessa. The total purchase price of the
properties, which will be managed by CubeSmart (NYSE: CUBE), was
approximately $33 million. Financing of $19.5 million was provided
through a mortgage with Wells Fargo.  
W. P. Carey Managing Director Anne Coolidge Taylor commented, "The
acquisition of this exceptional group of assets allows us to add four
well-located properties that were recently built and benefit from
modern amenities to our portfolio. The solid financial metrics of the
properties, combined with the desirable attributes of the properties
themselves, support CPA(R):17 - Global's long-term, income-oriented
investment objectives." 
W. P. Carey Executive Director Liz Raun Schlesinger added, "As the
manager of sixteen of CPA(R):17 - Global's existing self storage
assets, CubeSmart has performed very well for us over multiple
economic cycles. Their emphasis on local markets and community
involvement makes them an ideal management company for the
Midland/Odessa properties. Combining our own storage expertise with
CubeSmart's management skills, we believe that we can enhance the
value of these assets for our shareholders." 
W. P. Carey Inc.
 W. P. Carey Inc. is a publicly traded REIT (NYSE:
WPC) that provides long-term sale-leaseback and build-to-suit
financing for companies worldwide and manages an investment portfolio
of approximately $13.7 billion. W. P. Carey Inc. is the successor to
W. P. Carey & Co. LLC, which had its origins in 1973. The largest
owner/manager of net lease assets, our corporate finance focused
credit and real estate underwriting process is a constant that has
been successfully leveraged across a wide variety of industries and
property types. Our portfolio of long-term leases with creditworthy
tenants has an established history of generating stable cash flows
that have enabled us to deliver cons
istent and rising dividend income
to investors for nearly four decades. www.wpcarey.com  
This press release contains forward-looking statements within the
meaning of the Federal securities laws. A number of factors could
cause the Company's actual results, performance or achievement to
differ materially from those anticipated. Among those risks, trends
and uncertainties are the general economic climate; the supply of and
demand for office and industrial properties; interest rate levels;
the availability of financing; and other risks associated with the
acquisition and ownership of properties, including risks that the
tenants will not pay rent, or that costs may be greater than
anticipated. For further information on factors that could impact the
Company, reference is made to the Company's filings with the
Securities and Exchange Commission.  
COMPANY CONTACT:
Cheryl Sanclemente
W. P. Carey Inc.
212-492-8995
csanclemente@wpcarey.com 
PRESS CONTACT:
Guy Lawrence
Ross & Lawrence
212-308-3333
gblawrence@rosslawpr.com