Wm. Polk Carey founded W. P. Carey 36 years ago focused on creating investment products that work in good times and in bad. We’ve grown tremendously over the last three decades for one very good reason: we’ve performed well for our investors in all market conditions.
Since we launched Corporate Property Associates in 1979, W. P. Carey and the CPA® programs have raised more than $4.2 billion in equity and paid approximately 800 quarterly cash distributions to investors. Eighty-seven percent of our quarterly distributions have increased and we have not missed a single quarterly payment. We are proud of this outstanding accomplishment.
W. P. Carey’s wholly-owned subsidiary, Carey Asset Management Corp., currently serves as the advisor to four non-traded real estate investment trusts (REITs), CPA®:14, CPA®:15, CPA®:16 – Global and CPA®:17 – Global, which have combined assets valued at approximately $8 billion.
The CPA® REITs generally acquire properties and lease them back to tenant companies primarily on a long-term, triple-net basis (a practice called sale-leaseback). Income received from the lease payments is used to pay investors quarterly distributions with the objectives of providing attractive risk-adjusted returns and generating sufficient cash flow over time to provide investors with increasing distributions throughout the life of the programs.
Since 1979, 12 programs have gone full cycle, generating an average return of 11.56%. By focusing primarily on tenant creditworthiness and seeking to build long-term relationships, we have been able to provide our investors a steady cash flow and solid return throughout varying economic cycles.
TENDER OFFER INFORMATION
If you are a CPA®:14 or CPA®:15 shareholder, you may have received a tender offer solicitation by Madison Liquidity Investors or Mackenzie Patterson Fuller, LP (MPF) to acquire your shares at a steep discount. We recommend that you do not sell your shares and suggest that you consult your financial advisor or contact our Investor Relations Department at 1-800-WP CAREY (972-2739) for further assistance. Please read this postcard for more information about the MPF offer and why we think you should reject it. In addition, we strongly encourage you to view the Securities and Exchange Commission’s website, http://www.sec.gov/investor/pubs/minitend.htm, which can provide additional information on the dangers of these types of tender offers.
