NEW YORK, NY – July 16, 2002 – Investment banking firm W. P. Carey & Co. LLC (NYSE: WPC) today announced the appointment of Edward V. LaPuma, at age 29, as Managing Director in the firm's Acquisitions Group and as Chief Acquisitions Officer of W. P. Carey International LLC.
In this new position Mr. LaPuma will continue to complete transactions in the U. S. which provide corporate financing to companies seeking capital through the sale and leaseback of their corporate real estate. He will also oversee the W. P. Carey Group's international expansion. Additionally, Mr. LaPuma will continue in his role as President of Carey Institutional Properties, Inc. (CIP®), a publicly held, non-traded W. P. Carey managed real estate investment trust (REIT) that has significant pension fund ownership.
"I am pleased to announce Ed's appointment as Managing Director," said Wm. Polk Carey, Chairman of W. P. Carey. "He has been an integral part of our senior management team for a number of years and his knowledge and expertise have contributed greatly to W. P. Carey's leadership position in the market. His energy and ability to complete transactions efficiently will serve our investors and corporate clients well as W. P. Carey continues to expand domestically and globally."
Commenting on his appointment Mr. LaPuma said, "I am honored to have the opportunity to serve as Managing Director of W. P. Carey. We have a remarkable management team known for its creative leadership and innovation in creating real estate financing solutions that meet the needs of corporations seeking capital. With the tightening of the credit markets at home and abroad, the sale-leaseback concept, as an alternative form of financing, has become increasingly popular for companies. I look forward to helping executives from around the world meet their financing needs by making better use of their corporate real estate."
Mr. LaPuma joined W. P. Carey & Co. as Assistant to the Chairman in July 1994, where he helped establish the firm's Institutional Department. He joined the firm's Acquisitions Group in 1995 and was elected President of CIP® in May 2001. Prior to joining W. P. Carey & Co. Mr. LaPuma was a consultant with the Sol C. Snider Entrepreneurial Center where he advised small business owners on ways to make their companies more profitable through the implementation of appropriate financial and management strategies. Mr. LaPuma also founded his own consulting firm which specialized in providing strategy consultation services to industrial companies.
He serves as a Trustee of the Renssalearville Institute and of the W. P. Carey Foundation, as a governor of the Delta Phi Fraternity ("St. Elmo") and as a Director of W. P. Carey & Co. International LLC. Mr. LaPuma earned two degrees from the University of Pennsylvania in 1994, both awarded magna cum laude, one in Finance from its Wharton School, the other in Global Economic Strategies from its College of Arts and Sciences.
Founded in 1973, W. P. Carey & Co. is the largest publicly traded limited liability company in the world and specializes in corporate real estate financing through the corporate net lease or sale-leaseback structure. The firm and its affiliated publicly held non-traded real estate investment trusts – CIP®, CPA®:12, CPA®:14 and CPA®:15 – currently own and/or manage more than 450 commercial and industrial properties, consisting of more than 55 million square feet, throughout the United States and Europe.
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.
