NEW YORK, NY, May 3, 2006 - Investment firm W. P. Carey & Co. LLC (NYSE: WPC) announced today that it completed a sale-leaseback transaction with Datastream Systems, Inc., a leading provider of asset management software. Datastream is a subsidiary of Infor Global Solutions, an enterprise software provider majority owned by Golden Gate Capital. Located in Greenville, SC, the office facility serves as Datastream’s global headquarters and houses the majority of its employees. W. P. Carey’s affiliated income generating real estate fund, Corporate Property Associates 16 - Global Incorporated (CPA®:16 - Global), provided $16.3 million in financing and leased it back to Datastream under a long-term triple net lease.
Gino Sabatini, a Director at W. P. Carey, said, “Datastream and Infor are leaders in their respective markets of asset management software and enterprise software. Infor’s acquisition of Datastream will fill an important offering gap in Infor’s product line as well as provide significant cross-selling opportunities for Datastream’s customer base. We anticipate long-term growth for Infor and Datastream and are pleased to have played a role in the merger of these two companies.”
Jim Schaper, CEO of Infor Global Solutions, said, “W. P. Carey’s sale-leaseback facilitated our acquisition of Datastream, which enabled us to expand our product set and become a leading provider of asset management software.”
INFOR GLOBAL SOLUTIONS
Infor is the largest global software provider focused on delivering world-class enterprise applications to select verticals in the manufacturing and distribution industries. Infor delivers integrated solutions that address the essential challenges its customers face in areas such as supply chain planning, relationship management, demand management, ERP, warehouse management, marketing-drive distribution, and business intelligence. With more than 2,300 employees in 47 global offices, Infor provides enterprise solutions to more than 18,000 customers in over 70 countries. www.infor.com
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 13 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.
