W. P. Carey Inc 8-K, filed Jan 10, 2022
W. P. Carey Inc. (WPC)
8-K
2022-01-10
For: 2022-01-10
View Original
Added on
April 10, 2026
About this 8-K
W. P. Carey Inc filed this 8-K on January 10, 2022.
Items reported
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
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): January 10, 2022
(Exact Name of Registrant as Specified in its Charter)
| (State of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | |||||||||
| (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 | ||||||||||||
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):
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).
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 January 10, 2022, W. P. Carey Inc. (the “Company”) issued a press release announcing its 2021 full-year investment volume, among other items. The foregoing description is qualified in its entirety by reference to the press release, which is attached hereto as Exhibit 99.1 and incorporated by reference herein.
The information furnished pursuant to this “Item 7.01 Regulation FD Disclosure,” 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 the Company’s filings under the Securities Act of 1933, as amended.
Item 9.01 — Financial Statements and Exhibits.
| Exhibit No. | Description | |||||||
| 99.1 | ||||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |||||||
SIGNATURES
Pursuant to the requirements of the Exchange Act, the registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.
| W. P. Carey Inc. | |||||||||||
| Date: | January 10, 2022 | By: | /s/ ToniAnn Sanzone | ||||||||
| ToniAnn Sanzone | |||||||||||
| Chief Financial Officer | |||||||||||
Exhibit 99.1
W. P. Carey Announces Record Full Year Investment Volume of $1.73 Billion
Includes Approximately $530 Million of Investments Completed During the Fourth Quarter
NEW YORK – JANUARY 10, 2022 – W. P. Carey Inc. (NYSE: WPC), a leading net lease REIT specializing in corporate sale-leasebacks, build-to-suits and the acquisition of single-tenant net lease properties, today announced record investment volume for the 2021 full year of $1.73 billion, including investments totaling approximately $530 million completed during the fourth quarter.
While the company’s diversified approach provides a vast addressable market over two continents, during 2021 the company continued to see the best opportunities in warehouse and industrial assets, which comprised approximately 70% of its full year investment volume. From a geographical perspective, approximately 60% of its 2021 investment volume was in the U.S. and 40% was in Europe.
Investments completed in 2021 also continued to support internally-driven growth, with all leases providing either fixed rent escalations (averaging 2.3%) or rent increases tied to inflation, and enhanced portfolio quality, with a weighted-average lease term of approximately 20 years.
“In line with our expectations and supported by our access to well-priced capital, we maintained an accelerated pace of deal closings during the fourth quarter, completing a record year for investment volume and establishing a new chapter of externally-driven growth for W. P. Carey,” said Jason Fox, Chief Executive Officer of W. P. Carey. “I’m also pleased to confirm that the strong deal momentum that characterized 2021 is being sustained in the new year, with a growing number of deal closings scheduled for the first quarter and an actively building pipeline of new opportunities.”
Gino Sabatini, Head of Investments, W. P. Carey, added: “Corporate leaders are increasingly recognizing the benefits of sale-leasebacks as a means of unlocking the value of their critical operating real estate. This, coupled with W. P. Carey’s long track record of timely execution and our ability to provide certainty of close, enabled us to work with new and existing tenants to close a record volume of transactions in 2021.”
###
W. P. Carey Inc.
W. P. Carey Inc. ranks among the largest net lease REITs with an enterprise value of approximately $20 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,264 net lease properties covering approximately 152 million square feet as of September 30, 2021. For nearly five decades, the company has invested in high-quality single-tenant industrial, warehouse, office, retail and self-storage properties subject to long-term net leases with built-in rent escalators. Its portfolio is located primarily in the U.S. and Northern and Western Europe and is well-diversified by tenant, property type, geographic location and tenant industry.
www.wpcarey.com
This press release may contain forward-looking statements within the meaning of U.S. Federal securities laws. The comments of Mr. Fox and Mr. Sabatini are examples of forward-looking statements. A number of factors could cause W. P. Carey's actual results, performance or achievement to differ materially from those anticipated. Among those risks, trends and uncertainties are the general economic climate, including the continuing impact of COVID-19; the supply of and demand for commercial properties; interest rate levels; 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 W. P. Carey, reference is made to its filings with the U.S. Securities and Exchange Commission.
Institutional Investors:
Peter Sands
W. P. Carey Inc.
212-492-1110
institutionalir@wpcarey.com
Individual Investors:
W. P. Carey Inc.
1 (212) 492-8920
ir@wpcarey.com
Press Contact:
Anna McGrath
1 (212) 492-1166
amcgrath@wpcarey.com