NEW YORK, NY - June 2, 2003 - Wm. Polk Carey, Founder and Chairman of W. P. Carey & Co. LLC (NYSE: WPC), a New York City-based investment firm, was awarded an honorary doctorate in commercial science (dcs) by the City University of New York’s College of Technology (City Tech), President Fred W. Beaufait presiding, during the 63rd Commencement Exercises held at Madison Square Garden today.
Before the largest number of baccalaureate degrees awarded in a single year in the history of the College, Mr. Carey was presented the degree in recognition of his entrepreneurial success and his life-long commitment to educational institutions around the world. His firm is one of the largest holding companies of commercial and corporate real estate in the world. Along with its affiliated publicly held non-traded real estate investment trust (REITs), W. P. Carey & Co. LLC owns and/or manages more than 550 properties throughout the United States and Europe comprised of more than 75 million square feet with an estimated value of $5 billion.
Mr. Carey serves on the boards of The Johns Hopkins University, its School of Advanced International Studies and other educational and philanthropic institutions. At Johns Hopkins, the most popular undergraduate minor is the W. P. Carey Program in Entrepreneurship and Management. He is a member of the council of Templeton College, Oxford. With Nobel Laureate Dr. Lawrence R. Klein, he helped establish the helped establish the University’s Institute for Economic Research (PIER), of which he now serves as Chairman.
“It is with deep gratitude that I accept this honorary doctorate,” said Mr. Carey. “Education has played an important role in my family and I want to thank Chancellor Goldstein and President Beaufait for this honor and wish to congratulate the students graduating today on their accomplishments.”
President Fred W. Beaufait said, "We are deeply privileged to have the opportunity to recognize Bill Carey. He is a pioneer in his field, a true friend to education at all levels and a citizen of the world. We are excited to welcome him to the City Tech family."
Mr. Carey has been involved with a number of educational institutions including: Princeton University, Johns Hopkins University, the University of Pennsylvania, California Institute of Technology, Colorado College, Arizona State University’s W. P. Carey’s School of Business and College of Law, the Gilman School and the Calvert School, both in Baltimore, MD and the Pomfret School in Pomfret, CT.
Educated at Princeton University and the University of Pennsylvania’s Wharton School, he received his ScD honoris causa from Arizona State University. Additionally in 1999, Mr. Carey served as the Executive in Residence at Harvard Business School.
Since 1881, New York City College of Technology (formerly New York City Technical College) has been recognized as a national model for urban technological education and a pioneer in integrating technology into the teaching/learning experience. More than 11,000 students are currently enrolled in 51 career-specific baccalaureates, associate and specialized certificate programs.
