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Press Release

W. P. Carey Completes Acquisition of Two JPMorgan Chase Facilities in Tampa

Company Release - 5/24/2010 8:00 AM ET

NEW YORK, NY -- (MARKET WIRE) -- 05/24/10 -- 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 purchased two office facilities in Tampa, Florida from Brookfield Real Estate Opportunity Group ("Brookfield"), an affiliate of Brookfield Asset Management. Located in the Westshore area adjacent to Tampa International Airport, the two facilities total approximately 312,000 square feet and are leased to JPMorgan Chase, National Association on a long term basis. This transaction follows W. P. Carey's February purchase from Brookfield of a 386,000 square foot operations center in Dallas leased to JPMorgan Chase.

Commenting on the acquisition, W. P. Carey Managing Director Jason Fox noted, "We are pleased to complete another acquisition from Brookfield of facilities leased to JPMorgan Chase. The assets meet our criteria of investing in income-generating properties leased to established corporate tenants on a long term basis. Given that these assets are critical to JPMorgan Chase's ongoing operations, they represent the type of investment that fits well with our own investing objectives as well as those of CPA®:17 - Global's investors."

Steven Ganeless, Senior Vice President of Brookfield Real Estate Opportunity Group, noted, "We are pleased to have the opportunity to work together once again with the W. P. Carey team on the sale of these Tampa assets. Our previous work together enabled us to understand and achieve our mutual objectives, as well as facilitate a timely closing."

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. 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 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.

COMPANY CONTACT:
Kristina McMenamin
W. P. Carey & Co. LLC
212-492-8995
Email Contact

PRESS CONTACT:
Guy Lawrence
Ross & Lawrence
212-308-3333
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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