W. P. Carey Names Jason Fox and Gino Sabatini Executive Directors
NEW YORK, NY – April 11, 2007 – W. P. Carey & Co. LLC (NYSE:WPC), a leading real estate investment firm and lessor of net leased corporate properties, has announced the appointment of Jason Fox and Gino Sabatini as Executive Directors.
Mr. Fox joined the Investment Department in 2002 as Second Vice President and was promoted to Director in 2005. A magna cum laude graduate of the University of Notre Dame with an MBA from Harvard Business School, Mr. Fox has closed approximately $750 million in investments during his five years with W. P. Carey, including playing a key role in the $312 million sale-leaseback acquisition of 78 retail self-storage and truck rental facilities operated under the U-Haul brand name.
“Jason has been a great asset to our investment team over the last five years,” Chairman Wm. Polk Carey commented on Mr. Fox’s promotion. “He is an exceptional team player and his involvement with the U-Haul deal was paramount in laying the groundwork for future growth opportunities for our Company. His promotion to Executive Director is a tribute to his hard work and dedication.”
Mr. Sabatini joined the Investment Department in 2000 and has since originated 32 investments with an aggregate value in excess of $500 million. The majority of these transactions were done on behalf of private equity sponsors. Prior to joining W. P. Carey, he operated a successful theme restaurant as well as a packaged food manufacturing and distribution business. Mr. Sabatini is a graduate of the University of Pennsylvania where he was enrolled in the Management and Technology program. He received a BS in Mechanical Engineering from the Engineering School, a BS in Economics from the Wharton School, and an MBA from the Harvard Business School.
“Gino is a key member of our team and has been actively involved in closing many complex sale-leaseback transactions,” said Mr. Carey. “His broad educational background and analytical skills have enabled him to add incredible value to this growing company. Gino’s promotion to Executive Director reflects his significant contribution to the success of the Firm.”
“To both Jason and Gino, I offer my sincerest congratulations,” Mr. Carey concluded.
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 over $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 800 commercial and industrial properties in 13 countries, representing over 97 million square feet, valued at approximately $8.8 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.
W. P. Carey & Co. LLC
50 Rockefeller Plaza
New York, NY 10020
www.wpcarey.com
