NEW YORK, NY – June 20, 2000 – W. P. Carey & Co. LLC, a leading real estate investment banking firm and the largest lessor of net leased corporate properties in the United States, today announced the appointment by its Board of Directors of Edward V. LaPuma as Executive Director.
Commenting on the appointment of Mr. LaPuma, Wm. Polk Carey, Chairman and Chief Executive of W. P. Carey, stated, "As founder of our institutional department, a member of the Acquisitions Group and portfolio manager of Carey Institutional Properties, Ed has played a primary role in the growth of W. P. Carey. His strong financial background coupled with his superior negotiating skills and extensive transaction experience, has enabled him to generate a record number of new business transactions across a wide range of industries. Ed is a leader among an exceptional group of talented individuals who will contribute meaningfully to W. P. Carey's continued success into the new millennium."
Over the past 12 months, Mr. LaPuma has initiated, negotiated and closed transactions totaling more than $175 million. Included in these transactions was a $42 million sale-leaseback/build-to-suit for CheckFree's corporate campus in Norcross, Georgia, a $14.7 million sale-leaseback of a to-be-built megaplex theater for Consolidated Theatres in Richmond, Virginia, and a $20 million sale-leaseback of one of Best Buy's leading California retail centers.
Mr. LaPuma joined the company as Assistant to the Chairman in 1995 and established W. P. Carey's institutional department. He was elected a First Vice President in April 1998. Mr. LaPuma holds a BA from the University of Pennsylvania's College of Arts and Sciences and a BS from its Wharton School, both of which were awarded magna cum laude.
W. P. Carey specializes in corporate real estate financing through sale-leaseback or net lease and other long-term lease financing structures. The firm is one of the largest lessors of net leased corporate real estate in the world. The W. P. Carey Group comprises a series of real estate companies, including the Corporate Property Associates and Carey Institutional Properties real estate investment trusts, and Carey Diversified LLC (NYSE:CDC), the largest publicly traded limited liability company on the New York Stock Exchange. Collectively, the Carey Group owns more than 33 million square feet of property in the USA and Europe. Additional information about W. P. Carey & Co. LLC is available on the company's website: 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.