NEW YORK, NY – November 1, 2000 – W. P Carey & Co. LLC (NYSE: WPC), a leading real estate investment banking firm today announced the appointment of David G. Termine as First Vice President.
Commenting on Mr. Termine's promotion, Wm. Polk Carey, Chairman of W. P. Carey, stated, "Mr. Termine has been a valuable member of W. P. Carey for close to a decade. His aptitude in accounting, coupled with his intelligence and ability to work well with various internal and external constituents, has enabled him to take-on increased levels of responsibility during each year of his tenure and to make significant contributions within our rapidly evolving business."
Having completing his B.S. in Accounting from Brooklyn College University in 1980, Mr. Termine began his career in public accounting at Jaffe, Haft & Spring CPA's. In 1982, he moved from Jaffe, Haft & Spring to Milton N. Hoffman Company where he worked closely with Rudin Management Company. In 1996, Mr. Termine left public accounting and became Assistant Controller for Lazard Realty Company, a wholly owned subsidiary of Lazard Freres, in their real estate development division. In 1998, Mr. Termine moved on to Lepercq Capital Partners as Accounting Manager.
In 1991, Mr. Termine joined W. P. Carey as a Senior Accountant. He was elected Second Vice President in 1994 and was elevated to Vice President in 1996. As a First Vice President, Mr. Termine's responsibilities include maintaining the books and records of W. P. Carey and its affiliates, the preparation of consolidated financial statements on a GAAP basis, and the management of W. P. Carey's Accounts Payable and Payroll Departments.
Founded in 1973, W. P. Carey & Co. specializes in corporate real estate financing using the corporate net lease, or sale-leaseback structure. The firm and its affiliates is one of the largest lessors of net leased corporate real estate in the nation. W. P. Carey & Co. LLC (NYSE: WPC), the largest publicly traded Limited Liability Company in the world, owns and manages over 38 million square feet of property in the USA and Europe. Additional information about W. P. Carey can be found on the company's Web site: 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.