This website uses cookies to enable us to analyze use of our website and to help improve your experience. By continuing to browse this website, you are agreeing to our use of cookies. You can learn more about our use of cookies and how you may control the information we collect about you through cookies by reviewing our Cookie Policy, which can be accessed here.

PRIOR PROGRAMS

W. P. Carey has a 40+ year track record as an investment manager for investment professionals and individual investors. No full-term investor in W. P. Carey’s prior real estate investment programs has lost money and we have successfully liquidated 15 investment programs.

  • CPA®:1(2)
    Liquidation Date 01/22/2018
    Total cash distribution since inception plus liquidation value per $10,000 investment $23,670
    Value received at termination per $10,000 invested $11,314
    Total distributions per $10,000 invested $12,356
    Average annual return(1) 7.17%
  • CPA®:2(2)
    Liquidation Date 01/22/2018
    Total cash distribution since inception plus liquidation value per $10,000 investment $36,864
    Value received at termination per $10,000 invested $12,028
    Total distributions per $10,000 invested $24,835
    Average annual return(1) 14.89%
  • CPA®:3(2)
    Liquidation Date 01/22/2018
    Total cash distribution since inception plus liquidation value per $10,000 investment $40,806
    Value received at termination per $10,000 invested $16,317
    Total distributions per $10,000 invested $24,489
    Average annual return(1) 18.81%
  • CPA®:4(2)
    Liquidation Date 01/22/2018
    Total cash distribution since inception plus liquidation value per $10,000 investment $31,007
    Value received at termination per $10,000 invested $14,184
    Total distributions per $10,000 invested $16,824
    Average annual return(1) 13.85%
  • CPA®:5(2)
    Liquidation Date 01/22/2018
    Total cash distribution since inception plus liquidation value per $10,000 investment $21,024
    Value received at termination per $10,000 invested $7,903
    Total distributions per $10,000 invested $13,122
    Average annual return(1) 7.72%
  • CPA®:6(2)
    Liquidation Date 01/22/2018
    Total cash distribution since inception plus liquidation value per $10,000 investment $26,382
    Value received at termination per $10,000 invested $14,960
    Total distributions per $10,000 invested $11,534
    Average annual return(1) 12.47%
  • CPA®:7(2)
    Liquidation Date 01/22/2018
    Total cash distribution since inception plus liquidation value per $10,000 investment $21,504
    Value received at termination per $10,000 invested $11,914
    Total distributions per $10,000 invested $9,590
    Average annual return(1) 10.15%
  • CPA®:8(2)
    Liquidation Date 01/22/2018
    Total cash distribution since inception plus liquidation value per $10,000 investment $22,851
    Value received at termination per $10,000 invested $14,960
    Total distributions per $10,000 invested $7,891
    Average annual return(1) 13.10%
  • CPA®:9(2)
    Liquidation Date 01/22/2018
    Total cash distribution since inception plus liquidation value per $10,000 investment $18,393
    Value received at termination per $10,000 invested $11,321
    Total distributions per $10,000 invested $7,072
    Average annual return(1) 9.59%
  • CPA®:10
    Liquidation Date 04/30/2002
    Total cash distribution since inception plus liquidation value per $10,000 investment $20,833
    Value received at termination per $10,000 invested $11,230
    Total distributions per $10,000 invested $9,603
    Average annual return(1) 8.81%
  • CIP(3)
    Liquidation Date 09/01/2004
    Total cash distribution since inception plus liquidation value per $10,000 investment $24,243
    Value received at termination per $10,000 invested $13,900
    Total distributions per $10,000 invested $10,343
    Average annual return(1) 11.22%
  • CPA®:12
    Liquidation Date 12/01/2006
    Total cash distribution since inception plus liquidation value per $10,000 investment $23,689
    Value received at termination per $10,000 invested $13,300
    Total distributions per $10,000 invested $10,389
    Average annual return(1) 10.91%
  • CPA®:14
    Liquidation Date 05/02/2011
    Total cash distribution since inception plus liquidation value per $10,000 investment $21,719
    Value received at termination per $10,000 invested $11,500
    Total distributions per $10,000 invested $10,219
    Average annual return(1) 8.96%
  • CPA®:15(4)
    Liquidation Date 09/28/2012
    Total cash distribution since inception plus liquidation value per $10,000 investment $20,208
    Value received at termination per $10,000 invested $12,982
    Total distributions per $10,000 invested $7,226
    Average annual return(1) 9.58%
  • CPA®:16
    Liquidation Date 01/31/2014
    Total cash distribution since inception plus liquidation value per $10,000 investment $17,649
    Value received at termination per $10,000 invested $11,373
    Total distributions per $10,000 invested $6,276
    Average annual return(1) 7.64%
Program Liquidation Strategy Total cash distribution since inception plus liquidation value per $10,000 investment Value received at termination per $10,000 invested Total distributions per $10,000 invested Average annual return(1)
CPA®:1

In January 1998, CPA®:1-9 consolidated and were listed on the New York Stock Exchange as Carey Diversified LLC.



In June 2000, Carey Diversified LLC acquired the net lease business of W. P. Carey & Co., Inc. and formed W. P. Carey & Co. LLC.(2)

$23,670 $11,314 $12,356 7.17%
CPA®:2 $36,864 $12,028 $24,835 14.89%
CPA®:3 $40,806 $16,317 $24,489 18.81%
CPA®:4 $31,007 $14,184 $16,824 13.85%
CPA®:5 $21,024 $7,903 $13,122 7.72%
CPA®:6 $26,382 $14,960 $11,534 12.47%
CPA®:7 $21,504 $11,914 $9,590 10.15%
CPA®:8 $22,851 $14,960 $7,891 13.10%
CPA®:9 $18,393 $11,321 $7,072 9.59%
CPA®:10

In April 2002, CPA®:10 merged into CIP. Stockholders elected to exchange their shares at a total value of $11.23 per share for shares of CIP common stock or a promissory note bearing interest at the annual rate of 4% payable in December 2002.

$20,833 $11,230 $9,603 8.81%
CIP(3)

In September 2004, CIP merged into CPA®:15. Stockholders received a special distribution of $3.00 per share and, in addition, the choice of $10.90 in cash or 1.09 shares of CPA®:15 for each share of CIP owned at the time of the merger.

$24,243 $13,900 $10,343 11.22%
CPA®:12

In December 2006, CPA®:12 merged into CPA®:14. Stockholders received a special distribution of $3.19 per share and, in addition, the choice of $10.30 in cash or 0.8692 shares of CPA®:14 for each share of CPA®:12 owned at the time of the merger.

$23,689 $13,300 $10,389 10.91%
CPA®:14

In May 2011, CPA®:14 merged into CPA®:16 – Global. Stockholders received a special distribution of $1.00 per share and, in addition, the choice of $10.50 in cash or 1.1932 shares of CPA®:16 – Global for each share of CPA®:14 owned at the time of the merger.

$21,719 $11,500 $10,219 8.96%
CPA®:15(4)

In September 2012, CPA®:15 merged with W. P. Carey & Co. LLC and converted into a real estate investment trust known as W. P. Carey Inc. (NYSE: WPC). Stockholders received a special cash distribution of $1.25 per share and 0.2326 shares of W. P. Carey common stock for each share of CPA®:15 owned at the time of the merger.

$20,208 $12,982 $7,226 9.58%
CPA®:16

In January 2014, CPA®:16 – Global merged into W. P. Carey Inc. (NYSE: WPC). Stockholders received $11.25 per share in the form of W. P. Carey common stock.

$17,649 $11,373 $6,276 7.64%

Past performance is not a guarantee of future results.

  1. The average annual returns are net of fees and expenses and assume distributions are paid in cash. Average Annual Return = total return / number of years in the program. Total Return = [(cash distributions + liquidation value) – original investment] / original investment.

  2. The terminal values are based on any final cash distributions plus the average share price for the 30 trading days after the listing, which was $21.51 per share.

  3. Carey Institutional Properties Incorporated, or CIP, was the 11th investment program sponsored by W. P. Carey.

  4. The W. P. Carey stock value used for the calculation of the terminal value is based on the average share price of WPC for the 30 days after the merger, which was $50.44 per share.