W. P. CAREY OWNED PORTFOLIO UPDATE
•Through our merger with CPA®:15, we acquired a portfolio of 305 diversified net lease assets for $2.6 billion. •During the year, we completed acquisitions totaling approximately $152 million, including the remaining interest in an existing portfolio of 12 Marriott Courtyard hotels and five Walgreens retail stores. •In January 2013, W. P. Carey completed a sale-leaseback with Kraft Foods Group for their Northfield, Illinois campus. The 679,000 square foot facility is home to Kraft's corporate headquarters. •The W. P. Carey owned portfolio currently consists of 423 properties comprising 38.5 million square feet leased to more than 120 corporate tenants. The average lease term of the portfolio is 8.9 years and the occupancy rate is approximately 98.7%.
INVESTMENT MANAGEMENT UPDATE
•W. P. Carey is the advisor to the CPA® REITs and CWI, which had aggregate real estate assets of $7.9 billion, cash of approximately $750 million and total assets of $8.5 billion as of December 31, 2012. •The average occupancy rate for the 83 million square feet owned by the CPA® REITs was approximately 98.2%.
CPA®:17 - GLOBAL ACTIVITY
•In December 2012, CPA®:17 - Global closed to new investments, having raised $2.9 billion since its initial public offering, which commenced in 2007. •Investment volume for CPA®:17 - Global in the fourth quarter of 2012 was approximately $618 million and $1.0 billion for the year. •We completed our first transaction in Japan through a $47 million acquisition of assets leased to Wanbishi Archives Co., Ltd., the largest information/document management company in Japan.
CAREY WATERMARK INVESTORS ACTIVITY
•From the beginning of its initial public offering through February 22, 2013, our lodging-focused non-traded REIT offering has raised approximately $194 million. •During 2012, we invested in five hotels for a total of approximately $170 million.
•The W. P. Carey Board of Directors raised the quarterly cash dividend to $0.66 per share for the fourth quarter of 2012. The dividend -- our 47th consecutive quarterly increase -- was paid on January 15, 2013 to stockholders of record as of December 31, 2012. Over the course of the year, we increased our dividend by 17%, to an annualized rate of $2.64 per share.
W. P. Carey President and CEO Trevor Bond noted, "2012 was a landmark year for us in many ways. We completed our conversion to REIT status and our merger with CPA®:15 in September. We announced record acquisitions volume of $1.4 billion, and assets under management grew from $12.1 billion to $14.1 billion over the course of the year. As we enter our 40th year as a leader in the net lease sector, we're well-positioned to build on the accomplishments of 2012, continuing to adhere to our proven investment strategy of Investing for the Long Run."
CONFERENCE CALL & WEBCAST
Please call at least 10 minutes prior to call to register.
Time: Tuesday, February 26, 2013 at 11:00 AM (ET)
Call-in Number: 800-860-2442
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