NEW YORK, NY--(Marketwire - Dec 19, 2012) - W. P. Carey Inc. (
W. P. Carey Managing Director Anne Coolidge Taylor commented, "The acquisition of this exceptional group of assets allows us to add four well-located properties that were recently built and benefit from modern amenities to our portfolio. The solid financial metrics of the properties, combined with the desirable attributes of the properties themselves, support CPA®:17 - Global's long-term, income-oriented investment objectives."
W. P. Carey Executive Director Liz Raun Schlesinger added, "As the manager of sixteen of CPA®:17 - Global's existing self storage assets, CubeSmart has performed very well for us over multiple economic cycles. Their emphasis on local markets and community involvement makes them an ideal management company for the Midland/Odessa properties. Combining our own storage expertise with CubeSmart's management skills, we believe that we can enhance the value of these assets for our shareholders."
W. P. Carey Inc.
W. P. Carey Inc. is a publicly traded REIT (
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.