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Press Release

W. P. Carey Completes EUR 77 Million Agrokor Transaction

Company Release - 5/5/2010 8:00 AM ET

NEW YORK, NY and LONDON -- (MARKET WIRE) -- 05/05/10 -- W. P. Carey & Co. LLC (NYSE: WPC), a global investment management company that provides long term asset-based and build to suit financing for companies, announced today that CPA®:17 - Global one of its publicly held non-traded REIT affiliates, has acquired two office and logistics facilities in Zagreb, Croatia. The transaction is W. P. Carey's first in Croatia and is for a total consideration of EUR 77 million ($101 million), including acquisition fees. The two properties comprise the office headquarters and national distribution center of Konzum, the largest food retailer in Croatia and a subsidiary of Agrokor.

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

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

"As one of the largest real estate transactions in Eastern Europe in the last three years, the acquisition is further indication of W. P. Carey's ability to provide long term capital to companies based in capital-constrained regions on the Continent.

"Given Agrokor's dominance of the agribusiness industry and history of successful acquisitions and growth, this was an ideal situation for us to enter the Croatian market. Having its strategically critical operating assets on a long term lease is consistent with our investment strategy."

Ivica Todoric, Founder and President of Agrokor, said:

"This transaction with W. P. Carey allowed us to structure a deal that meets our short term commitments while supporting our longer term goals."

King Sturge was the real estate advisor to the transaction.

Notes to editors:

In recent months W. P. Carey has completed approximately EUR 270 million in sale leaseback transactions in Europe, including those listed below:

  • TDG, UK
    • 4 May 2010; W. P. Carey announces £22 million ($34 million) corporate sale leaseback with TDG Limited for a portfolio of cold storage facilities
  • Eroski, Spain
    • 17 February 2010; W. P. Carey completes second tranche of EUR 74 Million ($105 million) sale leaseback with Eroski.
    • W. P. Carey completed the first part of this Spanish sale leaseback transaction in December 2009, acquiring a portfolio of 13 retail facilities from Spanish supermarket operator Eroski Sociedad Cooperativa.
  • OBI, Poland
    • 15 October 2009; W. P. Carey entered into a sale leaseback transaction with the OBI Group (OBI) totaling approximately EUR 10 million ($15 million).
  • National Express, UK
    • 28 September 2009; W. P. Carey entered into a sale leaseback transaction with UK public transport provider National Express Ltd totaling approximately £16 million ($26 million).
  • Tesco, Hungary
    • 27 July 2009; W. P. Carey provided EUR 66 million ($94 million) in alternative long-term financing for Tesco plc through the sale and leaseback of Tesco's Hungarian logistics portfolio.

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 approaching $10 billion. Through its CPA® series of income-generating, non-traded REITs, W. P. Carey helps 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

Individuals interested in receiving future updates on W. P. Carey via e-mail can register at www.wpcarey.com/alerts.

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.

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Contacts:
For W. P. Carey & Co. LLC:
Europe
Dan de Belder/Rosanne Perry
+44 207 861 3232
Email Contact

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

Kristina McMenamin
+ 1 212-492-8995
Email Contact

 

Investor Contacts

Institutional Investors

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

Individual Investors

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

Transfer Agent

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

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