Merger of W. P. Carey, CPA: 16 Global Advances

NEW YORK CITY-Stockholders in both W. P. Carey Inc. and Corporate Property Associates 16 – Global Incorporated, its publicly held, non-traded REIT affiliate, have approved a merger of the two companies. The transaction, which will give W. P. Carey an equity market capitalization of about $6.5 billion and a total market cap of approximately $10 billion is expected to close this coming Friday.

“With the addition of assets that have been managed since their acquisition by W. P. Carey’s management team, the merger with CPA:16 – Global reinforces W. P. Carey’s status as a leading net lease REIT of significant scale and increasingly diversified global portfolio,” says Trevor Bond, CEO of W. P. Carey, which became a REIT in the fall of 2012. “By enhancing our access to diverse, efficiently priced sources of capital, the merger will continue to position us to capitalize on new opportunities that support W. P. Carey’s longstanding tradition of stable dividend growth and value creation for our shareholders.”