NEW YORK, NY - April 4, 2006 - Investment firm W. P. Carey & Co. LLC (NYSE: WPC) today announced that its affiliated non-traded income generating real estate fund, Corporate Property Associates 16 - Global Incorporated (CPA®:16 - Global), had resumed its fundraising last week. CPA®:16 - Global had terminated its initial public offering in March 2005, after having raised approximately $553 million from approximately 19,000 investors. CPA®:16 - Global is seeking to raise up to an additional $550 million through its current offering.
W. P. Carey completed approximately $865 million in 27 separate net-leased transactions around the world during 2005, many of them on behalf of CPA®:16 - Global As a result, CPA®:16 - Global owns a portfolio diversified by geographic region, property and industry type that includes 157 properties net-leased to 35 tenants in 34 states and 10 countries.
CPA®:16 - GLOBAL
CPA®:16 - Global is the fifteenth in a series of programs created and managed by W. P. Carey & Co. LLC. Designed as an income-generating investment, CPA®:16 - Global's core investment strategy is to own and manage a portfolio of properties leased to a diversified group of companies on a single tenant net-lease basis.
W. P. CAREY & CO. LLC
Founded in 1973, W. P. Carey & Co. LLC is a leading global real estate investment firm. The Company provides asset management services to its CPA® series of income generating real estate funds. With $4.5 billion in equity capital, the W. P. Carey Group is one of the largest providers of net lease financing for corporations worldwide. The Group owns more than 675 commercial and industrial properties in 14 countries, representing over 95 million square feet, valued at more than $7.7 billion. www.wpcarey.com
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This press release contains forward-looking statements within the meaning of the Federal securities laws. A number of factors could cause the company's actual results, performance or achievement to differ materially from those anticipated. Among those risks, trends and uncertainties are the general economic climate; the supply of and demand for office and industrial properties; interest rate levels; the availability of financing; 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 the company, reference is made to the company's filings with the Securities and Exchange Commission.
