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Press Release

W. P. Carey Completes EUR 126 Million of Investments With Agrokor in 2010

Company Release - 1/10/2011 8:00 AM ET

EUR 49 Million Second Transaction With Largest Croatian Food Retailer Further Increases European Presence

NEW YORK, NY and LONDON -- (MARKET WIRE) -- 01/10/11 -- W. P. Carey & Co. LLC (NYSE: WPC), the global investment management company that provides long term sale leaseback and build to suit financing for companies, today announced that CPA®:17 - Global, one of its publicly-held, non-traded REIT affiliates, has acquired a portfolio of retail facilities in Croatia for a total consideration of EUR 49 million ($64 million).

The transaction is W. P. Carey's second in Croatia and its second with Agrokor following a EUR 77 million ($102 million) acquisition of Agrokor's Zagreb office and logistics facilities in May 2010. The retail facilities comprise a six property portfolio of super-markets and hyper-markets mainly located in Zagreb and surrounding cities. The portfolio is leased on a long term triple-net basis to Konzum, Agrokor's food retailing subsidiary.

Founded in 1976, Agrokor is the largest private company in Croatia and one of the largest companies among its peers in Central Eastern Europe. A vertically-integrated business with nearly 40,000 employees and almost EUR 4 billion in revenues, Agrokor is Croatia's largest food producer, processor, distributor, and retailer.

W. P. Carey has been investing in Europe for over ten years and, despite the limited activity by many capital providers over the last 18 months, has completed more than EUR 430 million in European sale leaseback transactions during this period.

Jeffrey Lefleur, Executive Director of W. P. Carey, said:

"This marks our second large scale transaction with Agrokor this year and underlines our commitment to investing in Eastern Europe. Our continued ability to invest in capital-constrained regions has allowed us to transact with large, stable businesses and secure attractive, long-term yields for our investors."

Ivica Todoric, Founder and President of Agrokor, said:

"This transaction again affirms our comfort with W. P. Carey as a landlord to valuable, long-term operating assets of our business. We expect this relationship to strengthen as Agrokor grows in the markets of South Eastern Europe and seeks alternative sources of capital for such expansion."

Notes to editors:

Over the last 18 months W. P. Carey has completed more than EUR 430 million in sale leaseback transactions in Europe, including the Agrokor transactions described above and those listed below:

  • Distribuidora de Television Digital S.A.U.
    December 2010; W. P. Carey completed a sale leaseback of DTS's headquarters in Madrid, Spain.

  • Neuca SA, Poland
    August 2010; W. P. Carey provided build to suit financing for a facility to be built for Panattoni Europe and leased by Neuca SA in Ponzan, Poland.

  • Eroski, Spain
    June 2010; W. P. Carey completed a sale leaseback of two warehouse logistics facilities in Elorrio and Mallorca, Spain, following a two-tranche sale leaseback with Eroski of 29 retail sites in February 2010 and December 2009.

  • TDG, UK
    May 2010; W. P. Carey completed a sale leaseback transaction with TDG Limited for a portfolio of cold storage facilities.

  • OBI, Poland
    October 2009; W. P. Carey entered into its fourth sale leaseback transaction with the OBI Group.

  • National Express, UK
    September 2009; W. P. Carey entered into a build to suit transaction with UK public transport provider National Express Ltd.

  • Tesco, Hungary
    July 2009; W. P. Carey completed a sale leaseback with Tesco of its Hungarian logistics portfolio.

About W. P. Carey & Co. LLC
W. P. Carey & Co. LLC (NYSE: WPC) is an investment management company that provides long term sale leaseback and build to suit financing for companies worldwide and manages a global investment portfolio of approximately $10 billion. Publicly traded on the New York Stock Exchange (WPC), W. P. Carey and its CPA® series of income-generating, non-traded REITs help companies and private equity firms unlock capital tied up in real estate assets. The W. P. Carey Group's investments are highly diversified, comprising contractual agreements with approximately 275 long term corporate obligors spanning 28 industries and 16 countries. http://www.wpcarey.com

This press release contains forward-looking statements within the meaning of the Federal securities laws. A number of factors could cause W. P. Carey'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.

For W. P. Carey & Co. LLC:

Rosanne Perry
+44 207 861 3863
Email Contact

Guy Lawrence
Ross & Lawrence
+ 1 212-308-3333
Email Contact

Kristina McMenamin
+ 1 212-492-8995
Email Contact

Source: W. P. Carey & Co. LLC


Investor Contacts

Institutional Investors

Peter Sands
Director of Institutional IR
W. P. Carey Inc.
1 (212) 492-1110

Capital Markets

Jeremiah Gregory
Head of Capital Markets
W. P. Carey Inc.
1 (212) 492-1135

Individual Investors

Investor Relations Department
1 (800) WP CAREY (972-2739)

Transfer Agent

W. P. Carey Inc.
Shareowner Services
PO Box 505000
Louisville, KY 40233-5000
1 (888) 200-8690

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