8-K

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 9, 2023

W. P. Carey Inc.

(Exact Name of Registrant as Specified in its Charter)

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

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))

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

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 January 9, 2023, W. P. Carey Inc. (the “Company”) issued a press release announcing its 2022 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 W. P. Carey’s filings under the Securities Act of 1933, as amended.

Item 9.01 — Financial Statements and Exhibits.

(d) Exhibits

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.

Document

Exhibit 99.1

W. P. Carey Announces 2022 Investment Volume of $1.42 Billion

Fourth Quarter Investments Completed at an Approximately 6.8% Weighted-Average Cap Rate

Company Well-Positioned to Execute on a Significant Near-Term Pipeline

NEW YORK, Jan. 9, 2023 – W. P. Carey Inc. (W. P. Carey, 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 investment volume for the 2022 full year of $1.42 billion.

W. P. Carey continues to invest primarily in high-quality, single-tenant warehouse and industrial properties, which comprised approximately two-thirds of its 2022 investment volume. From a geographic perspective, approximately two-thirds of its 2022 investment volume was located in North America and one-third in Europe.

“2022 presented a challenging market backdrop, with cap rates slow to adjust to higher interest rates, creating increased uncertainty over the timing of investments. I’m pleased to say, however, that cap rates continued to move higher during the fourth quarter and that the large majority of the $160 million of investments we completed during that timeframe were industrial and warehouse properties with cap rates in the high sixes and into the sevens,” said Jason Fox, Chief Executive Officer of W. P. Carey.

“We believe this sets up an environment in 2023 conducive to higher investment activity at wider spreads. Currently, we have a very strong near-term pipeline, including over $500 million of opportunities at advanced stages or under letters of intent. And armed with significant dry powder, we are confident in our ability to execute accretive investments. We also remain uniquely positioned within the net lease sector for internal growth, with over half of our portfolio having rent escalations tied to CPI.”

W. P. Carey Inc.

Celebrating its 50th anniversary, W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $22 billion and a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,428 net lease properties covering approximately 175 million square feet and a portfolio of 84 self-storage operating properties, as of September 30, 2022. With offices in New York, London, Amsterdam and Dallas, the company remains focused on investing primarily in single-tenant, industrial, warehouse and retail properties located in the U.S. and Northern and Western Europe, under long-term net leases with built-in rent escalations.

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 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, please reference its filings with the U.S. Securities and Exchange Commission.

Institutional Investors:

Peter Sands

1 (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