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Press Release

W. P. Carey Group Closes $18 Million Build-to-Suit Transaction With Sabre Industries

Company Release - 6/13/2012 8:00 AM ET

NEW YORK, NY -- (Marketwire) -- 06/13/12 -- Investment firm W. P. Carey & Co. LLC (NYSE: WPC) announced today that CPA®:17 - Global, one of its publicly held non-traded REIT affiliates, has provided approximately $18 million of build-to-suit financing to Sabre Industries, Inc. for construction of an approximately 300,000 square foot industrial facility in Sioux City, Iowa. Upon completion the facility will be leased on a long term triple net basis to Sabre Communications Corporation. Sabre is a portfolio company of New York-based private equity fund Corinthian Capital.

Construction of the facility is estimated to be completed prior to year end 2012. The facility is located in the Southbridge Business Park in Sioux City and includes, in addition to the main production building, auxiliary buildings housing administrative offices, maintenance facilities and other manufacturing related processes.

"Domestic demand for power transmission lines and wireless communications has continued to increase," said Jim Tholey, CFO at Sabre. "As our fourth transaction with W. P. Carey, the financing is enabling Sabre to continue to grow its core business -- providing infrastructure products and services to meet the demands of our customers. W. P. Carey's ability to fund construction and enter into a long term lease provides Sabre with near term funding as well as certainty of financing costs over the longer term, which was especially meaningful given the present challenging market conditions for construction financing. Our prior experience with the W. P. Carey team and their knowledge of the company made them the 'go to' choice for this financing."

"Given the criticality of the Sioux City facility to Sabre's operations going forward and the anticipated contribution it will make when completed, the financing is consistent with our established investment criteria. As the leading provider of structures and building systems to the wireless industry and the third largest provider of transmission structures to the power distribution/transmission industry, Sabre is a key player in a growing industry," said Chad F. Edmonson, Executive Director of W. P. Carey & Co. LLC.

Mr. Edmonson added, "At a time when construction financing is difficult to find, we are pleased to continue to partner with Sabre by providing resources to support their ongoing growth initiatives and longer term business plans. Our relationship with Sabre demonstrates how we can work on an ongoing basis with our tenants to meet their financing needs for growth and expansion."

W. P. Carey & Co. LLC
W. P. Carey & Co. LLC (NYSE: WPC) is an investment management company that oversees a global investment portfolio of $12 billion. W. P. Carey provides companies worldwide with long term sale leaseback and build to suit financing and engages in other types of real estate-related investment. 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 288 long term corporate tenants spanning 28 industries and 18 countries. www.wpcarey.com

Sabre Industries, Inc.
In business since 1977, Sabre Industries, Inc. is a leading manufacturer of utility structures, communication towers, shelters and building systems, and tower accessories to the wireless communications and power distribution/transmission industries. In addition, Sabre provides a full range of services including hot-dip galvanizing, turnkey construction, site development, interior integration, and field maintenance. Sabre services customers including Verizon Wireless, AT&T, U.S. Cellular, Narragansett Electric, PSE&G, Crown Castle USA Inc, Rosendin Electric Inc., Brazos Electric Power, SBA Network Services and American Tower Inc. www.SabreIndustries.com.

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.

Cheryl Sanclemente
W. P. Carey & Co. LLC
Email Contact

Guy Lawrence
Ross & Lawrence
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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