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W. P. Carey Finalizes $2.7B Merger with Non-Traded CPA:18 – Global

Net lease REIT W. P. Carey Inc. (WPC) has completed its $2.7-billion merger with Corporate Property Associates 18 – Global Incorporated, a non-traded REIT for which WPC acted as advisor. The merger adds approximately $2 billion of real estate assets—including 65 self-storage properties—to WPC’s portfolio after asset sales, most of which have been completed.  

When the merger was first announced in February, WPC CEO Jason Fox said it would provide CPA:18 –Global investors with “liquidity as well as the opportunity to continue their investment in a similar company.” 

He added that it provides WPC with “the opportunity to purchase high-quality assets that align well with its own portfolio, generating stable and recurring real estate revenues that will support our focus on growth and income for investors.” 

In connection with the merger, WPC expects to issue 13.8 million shares of common stock, increasing its equity market capitalization to approximately $18 billion.


Inside The Story

W. P. Carey

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition