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Slide #13. W. P. Carey — Corporate Property Associates 16
W. P. Carey (NYSE:WPC)
Corporate Property Associates 16
W. P. Carey Inc. (NYSE:WPC) reported today that its proposed merger with its publicly held, non-traded REIT affiliate, Corporate Property Associates 16 Global Incorporated (CPA:16 Global), was approved by its stockholders and the stockholders of CPA:16 Global on January 24, 2014. The merger was approved by 98% of the shares voted by W. P. Carey's stockholders and by 96% of the eligible votes cast at CPA:16 Global's special meeting of stockholders. The transaction is expected to close on January 31, 2014.
W. P. Carey is an internally-managed diversified real estate investment trust (REIT). Co.'s business segments are: Real Estate, in which Co. invests in commercial real estate properties, that are leased to companies on a triple-net lease basis; and Investment Management, in which Co. manages the portfolios of certain non-traded investment programs, non-traded REITs that have invested in lodging and lodging-related properties, and a private limited partnership formed for the purpose of developing, owning, and operating student housing properties and similar investments in Europe.
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Buy (2.89 out of 4)
(ranked lower than approx. 71% of all stocks covered)
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