NEW YORK, NY – September 20, 2001 – W. P. Carey & Co. LLC, a leading real estate investment banking firm and lessor of net leased corporate properties, announced today that the Board of Directors of Corporate Property Associates 12 (CPA®:12), a non-publicly traded real estate investment trust (REIT) managed by W. P. Carey & Co. LLC, has increased the quarterly cash dividend for the quarter ended September 30, 2001.
The dividend rose to $20.53 per $1,000 investment, representing CPA®:12's twenty-ninth consecutive quarterly dividend increase. The dividends are payable on October 15, 2001 to shareholders of record as of September 28, 2001.
CPA®:12 is a public, non-traded real estate investment trust that invests in single-tenant commercial properties. These properties are subject to long-term, triple net leases in which the tenants bear responsibility for maintaining the premises, insuring the buildings and paying real estate taxes. As of June 30, 2001, the trust's diversified portfolio contained 92 properties net-leased to 38 tenants throughout the United States. W. P. Carey & Co. LLC and its affiliates specialize in corporate real estate financing through the corporate net lease, or sale-leaseback structure. The largest publicly traded limited liability company in the world, W. P. Carey was founded in 1973 and owns and/or manages more than 46 million square feet of property in the United States and Europe. The $3 billion firm is headquartered in Manhattan and has offices in London and Paris. Additional information on W. P. Carey can be found o the firm'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.