Corporate Property Associates 15 Increases Third Quarter Dividend
NEW YORK, NY – September 12, 2002 – Corporate Property Associates 15 Incorporated (CPA®:15), a publicly held non-traded real estate investment trust (REIT) managed by W. P. Carey & Co. LLC, announced today that its Board of Directors have declared a quarterly dividend of $.1525 per common share for the quarter ending September 30, 2002.
The quarterly cash dividends, which were calculated on a daily basis, will be paid on October 15, 2002 to shareholders of record as of September 30, 2002.
Founded in 2001, CPA®:15 is part of the $4 billion W. P. Carey Group which invests in single-tenant corporate properties through the net lease or sale-leaseback financing structure. As of September 12, 2002 CPA®:15's diversified portfolio contained 28 properties net leased to 10 tenants comprised of more than 3.2 million square feet. For further information visit our website at www.cpa15.com.
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.
