W. P. Carey Announces Acquisition of 22-Story Houston Office Tower Majority Leased to KBR and Sale-Leaseback with Crowne Group

 W. P. Carey Announces Acquisition of 22-Story Houston Office Tower Majority
              Leased to KBR and Sale-Leaseback with Crowne Group

PR Newswire

NEW YORK, Jan. 10, 2014

NEW YORK, Jan. 10, 2014 /PRNewswire/ --W. P. Carey Inc. (NYSE:WPC), a real
estate investment trust ("REIT") specializing in corporate sale-leaseback
financing, build-to-suit financing and the acquisition of single-tenant
net-lease properties, announced today two acquisitions completed on behalf of
its managed REITs at year-end 2013. CPA^®:17 – Global acquired a 22-story
office tower in downtown Houston, leased primarily to KBR, Inc., and CPA^®:18
– Global acquired three properties leased to Crowne Group Incorporated, a
privately held diversified manufacturer of automotive and industrial equipment
parts.

(Photo: http://photos.prnewswire.com/prnh/20140110/NY44163)
(Logo: http://photos.prnewswire.com/prnh/20130604/NY25517LOGO-b)

CPA^®:17 – Global Houston Office Tower Acquisition

KBR (NYSE: KBR) is a global engineering, construction and services company
supporting the energy, hydrocarbon, government services, minerals, civil
infrastructure, power, industrial and commercial markets. The 390,479 square
foot office tower, located at 500 Jefferson Street in downtown Houston, is
being leased primarily to KBR through June 2030. Nine other tenants occupy 9%
of the building. CPA^®:17 – Global also owns KBR's headquarters at 601
Jefferson, which it acquired in 2012.

CPA^®:18 – Global Crowne Group Sale-leaseback

The Crowne Group is a service-provider for leading original equipment,
automotive and industrial manufacturers, as well as the retail automotive
aftermarket. Customers include major auto manufacturers such as GM, Toyota and
Ford, industrial equipment manufacturers such as John Deere, Allegis and
Bobcat, and aftermarket automotive retailers such as AutoZone, Carquest and
Amazon.

CPA^®:18 – Global acquired three properties totaling 636,857 square feet,
which are being leased to Crowne Group under a 25-year triple-net lease with
annual CPI increases. Located in Madison and Logansport, Indiana and Marion,
South Carolina, the properties house automotive manufacturing, warehouse and
office facilities. The total acquisition price was approximately $22.3 million

Quote

Gino Sabatini, W. P. Carey Managing Director and Co-Head of Global
Investments: "We are pleased to have closed out 2013 with two solid
acquisitions for our managed portfolios. With its acquisition of the Houston
office tower, CPA^®:17 – Global has secured another long-term lease with KBR,
a strong company located in a growing market. CPA^®:18 – Global's
sale-leaseback with the Crowne Group is a prime example of how we provide
capital to growing companies. The transaction provides Crowne with the
necessary funding for future acquisitions of businesses that are complimentary
to Crowne's overall corporate strategy, while adding a 25-year lease to
CPA^®:18 – Global's portfolio."

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 owns
and manages an investment portfolio totaling more than $15 billion. The
largest owner/manager of net lease assets, WPC's 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.
Its portfolio of long-term leases with creditworthy tenants has an established
history of generating stable cash flows that have enabled WPC to deliver
consistent 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. The statements of Mr. Sabatini are examples of
forward looking statements. A number of factors could cause CPA^®:17 Global's
and/or CPA^®:18 – Global'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; and risks related to CPA^®:18 – Global's
offering of shares. For further information on factors that could impact
either CPA^®:17 – Global or CPA^®:18 – Global, reference is made to CPA^®:17 –
Global's or CPA^®:18 – Global's respective filings with the Securities and
Exchange Commission.

Company contact:
Kristina McMenamin
W. P. Carey Inc.
212-492-8995
kmcmenamin@wpcarey.com

Press contact:
Guy Lawrence
Ross & Lawrence
212-308-3333
gblawrence@rosslawpr.com

SOURCE W. P. Carey Inc.

Website: http://www.wpcarey.com
 
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