Corporate Property Associates 12 Increases Quarterly Dividend
NEW YORK, NY – March 21, 2001 – Corporate Property Associates 12 Incorporated (CPA®:12), a public REIT and an affiliate of W. P. Carey & Co. LLC, today announced that its Board of Directors has approved the dividend for the first quarter. The dividend, payable April 12, 2001 to shareholders of record as of March 30, rose to $20.49 per 100 shares. This is the Company's 28th consecutive quarterly dividend increase.
Chairman Wm. Polk Carey commented, "Our ability to provide consistent and growing dividends validates our proven strategy of acquiring single tenant, industrial, retail and office facilities, leased to growing dynamic companies under long term, triple-net leases. Our core competencies in the areas of sophisticated deal structuring, rigorous credit analysis and evaluation of real estate markets have enabled us to assemble a portfolio of attractive investments. As market uncertainty continues, CPA®:12 not only looks to provide an asset allocation vehicle that addresses investors' need for stability, it also seeks and structures investments that are designed to achieve capital appreciation over the longer term."
Founded in 1973, W. P. Carey & Co. LLC, a leader in the ownership and net leasing of corporate properties, specializes in corporate real estate financing using the corporate net lease, or sale-leaseback structure. The $3 billion W. P. Carey Group, which includes the firm and its affiliates, is one of the largest lessors of net leased corporate real estate in the nation. The W. P. Carey Group includes the largest publicly traded Limited Liability Company in the world and the four real estate investment trusts (REITs) it manages. Collectively, Carey owns or manages over 44 million square feet of property located in the United States and Europe leased to a diverse group of corporate tenants across the credit spectrum. More information on CPA®:12 can be found on the company's website at www.cpa12.com.
