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8-K

W. P. Carey Inc. (WPC)

8-K 2021-03-05 For: 2021-03-05
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Added on April 10, 2026

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): March 5, 2021

wpc-20210305_g1.jpg

W. P. Carey Inc.

(Exact Name of Registrant as Specified in its Charter)

Maryland 001-13779 45-4549771
(State of incorporation) (Commission File Number) (IRS Employer Identification No.)
One Manhattan West, 395 9th Avenue, 58th Floor
New York, New York 10001
(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (212) 492-1100

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, $0.001 Par Value WPC New York Stock Exchange

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

☐ Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 7.01 Regulation FD Disclosure.

On March 5, 2021, W. P. Carey Inc. made available certain unaudited supplemental financial information. A copy of this supplemental information is attached as Exhibit 99.1.

The information furnished pursuant to this Item 7.01, including Exhibit 99.1, shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that Section, and shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act.

Item 9.01 Financial Statements and Exhibits.

Exhibit No. Description
99.1 COVID-19 Update: March 5, 2021.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.

W. P. Carey Inc.
Date: March 5, 2021 By: /s/ ToniAnn Sanzone
ToniAnn Sanzone
Chief Financial Officer

wpccovidfebruaryip3421

Investing for the long run® COVID-19 Update March 5, 2021 Exhibit 99.1


Investing for the Long Run® | 2 Rent Paid 97% Rent Deferred — Rent Not Paid 3% 97% 3% February Rent Payment Status Total February Rent Due % of total ABR % of February rent due and paid (1) Industrial 25% 99% Warehouse 22% 96% Office 23% 99% Retail 18% 95% Fitness, Theater and Restaurants 1% 76% Self Storage (net lease) 5% 100% Other (2) 6% 98% Total 100% 97% % of total ABR % of February rent due and paid (1) U.S. 61% 99% Europe 37% 94% Other (3) 2% 100% Total 100% 97% WPC has collected 97% of February rent due Property Type Geography Note: ABR presented as of December 31, 2020, unless otherwise noted. Percentages may not add to totals due to rounding. (1) Reflects payments from tenants with rental payments due from January 20, 2021 to February 19, 2021 expressed as a percentage of ABR. Excludes rent paid in advance of the February collection period. (2) Includes net lease lodging assets, education facilities, laboratories and student housing properties. (3) Includes Canada, Mexico and Japan. % of ABR from February rent due (1)


Investing for the Long Run® | 3 Disclosures The following metrics are used in this presentation: Pro Rata Metrics This presentation contains certain metrics prepared under the pro rata consolidation method. We refer to these metrics as pro rata metrics. We have a number of investments, usually with our affiliates, in which our economic ownership is less than 100%. Under the full consolidation method, we report 100% of the assets, liabilities, revenues and expenses of those investments that are deemed to be under our control or for which we are deemed to be the primary beneficiary, even if our ownership is less than 100%. Also, for all other jointly owned investments, which we do not control, we report our net investment and our net income or loss from that investment. Under the pro rata consolidation method, we present our proportionate share, based on our economic ownership of these jointly owned investments, of the assets, liabilities, revenues and expenses of those investments. Multiplying each of our jointly owned investments’ financial statement line items by our percentage ownership and adding or subtracting those amounts from our totals, as applicable, may not accurately depict the legal and economic implications of holding an ownership interest of less than 100% in our jointly owned investments. ABR ABR represents contractual minimum annualized base rent for our net-leased properties and reflects exchange rates as of December 31, 2020. If there is a rent abatement, we annualize the first monthly contractual base rent following the free rent period. ABR is not applicable to operating properties and is presented on a pro rata basis. Note: Given the significant uncertainty regarding the duration and severity of the impact of the COVID-19 pandemic, the Company is unable to predict its tenants’ continued ability to pay rent. Therefore, information provided regarding historical rent collections should not serve as an indication of expected future rent collections. Amounts may not sum to totals due to rounding. Past performance does not guarantee future results.