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 16 investment programs.
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 16 investment programs.
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(5) |
In January 2014, CPA®:16 – Global merged into W. P. Carey Inc. (NYSE: WPC). Stockholders received 0.1830 shares of W. P. Carey common stock for each share of CPA®:16 – Global owned at the time of the merger. |
$17,649 |
$11,373 |
$6,276 |
7.64% |
CPA®:17(6) |
In October 2018, CPA®:17 – Global merged into W. P. Carey Inc. (NYSE: WPC). Stockholders received 0.160 shares of W. P. Carey common stock for each share of CPA®:17 – Global owned at the time of the merger. |
$17,680 |
$10,819 |
$6,861 |
7.09% |
CPA®:18(7) |
In August 2022, CPA®:18 – Global merged into W. P. Carey Inc. (NYSE: WPC). Stockholders received 0.0978 shares of W. P. Carey common stock and $3.00 cash consideration for each Class A and Class C share of CPA®:18 – Global owned at the time of the merger. |
Class A: $19,533 |
$13,034 |
$6,519 |
10.50% |
Class C: $19,791 |
$13,790 |
$6,000 |
10.80% |
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CPA®:1
Liquidation Date
01/01/1998 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
Liquidation Date
01/01/1998 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
Liquidation Date
01/01/1998 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
Liquidation Date
01/01/1998 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
Liquidation Date
01/01/1998 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
Liquidation Date
01/01/1998 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
Liquidation Date
01/01/1998 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
Liquidation Date
01/01/1998 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
Liquidation Date
01/01/1998 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(5)
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%
-
CPA®:17(6)
Liquidation Date
10/31/2018 Total cash distribution since inception plus liquidation value per $10,000 investment
$17,680
Value received at termination per $10,000 invested
$10,819
Total distributions per $10,000 invested
$6,861
Average annual return(1)
7.09%
-
CPA®:18(7)
Liquidation Date
Total cash distribution since inception plus liquidation value per $10,000 investment
Class A: $19,533
Value received at termination per $10,000 invested
$13,034
Total distributions per $10,000 invested
$6,519
Average annual return(1)
10.50%
-
Class C: $19,791
Liquidation Date
Total cash distribution since inception plus liquidation value per $10,000 investment
$13,790
Value received at termination per $10,000 invested
$6,000
Total distributions per $10,000 invested
10.80%
Past performance is not a guarantee of future results.
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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.
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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.
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Carey Institutional Properties Incorporated, or CIP, was the 11th investment program sponsored by W. P. Carey.
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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.
-
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 $67.15 per share.
-
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 $67.62 per share.
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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 $84.83 per share.