W.P. Carey CEO Jason Fox says the deal will allow it to focus on net lease investing.

NEW YORK CITY–Net lease REIT W.P. Carey and Corporate Property Associates 17 – Global Incorporated (CPA:17 – Global) announced they have entered into a definitive merger agreement. The deal between the two related parties — W.P. Carey is CPA:17’s advisor — is valued at $6 billion and has been approved by a special committee of CPA:17 – Global’s independent directors.