NEW YORK, NY -- (MARKET WIRE) -- 12/11/09 --
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 the corporate headquarters of US
Oncology, Inc. in Woodlands, Texas, 30 miles north of Houston. CPA®:17 -
Global purchased the 204,000 square foot facility, which is leased to US Oncology on a long-term basis, for a total
of approximately $45 million.
US Oncology, majority-owned by
private equity firm Welsh, Carson, Anderson & Stowe, is a premier oncology
services company and works closely with physicians, payers, biotechnology,
pharmaceutical and medical equipment manufacturers to support every aspect
of the cancer care delivery system, from drug development to distribution
and outcomes measurement. According to its third quarter 2009 earnings
report, US Oncology is affiliated with 1,310 physicians operating in 493
locations in 39 states.
Commenting on the acquisition, W. P. Carey Executive Director Jason Fox
noted, "Acquiring US Oncology's Class A headquarters is consistent with our
investment strategy of purchasing assets that are critical to the long-term
business objectives of our tenants. In addition, we view the location and
quality of the real estate as significant added value for the transaction
and believe it is a solid opportunity for CPA®:17 - Global and its
investors."
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 300 long-term corporate obligors
spanning 28 industries and 15 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.
212-492-8995
Email Contact
PRESS CONTACT:
Guy Lawrence
Ross & Lawrence
212-308-3333
Email Contact