W. P. Carey Inc. (WPC) is a leader and a pioneer in the commercial real estate industry. Founded in 1973 by the late Wm. Polk Carey, this New York-based company operates with a significant presence in both the United States and Europe. W. P. Carey Inc. is known for its public, non-traded real estate investment trusts (REITs), and ranks amongst the largest diversified REITs globally.
As of 2021, WPC has grown into a billion-dollar enterprise with an owned portfolio of $18.5 billion. These holdings span 1,215 net lease properties covering approximately 142 million square feet of corporate real estate around the globe. The company boasts a variety of tenants from over 50 different industries, providing it with a wide range of income sources, thus, reducing concentrated risks.
WPC primarily invests in single-tenant, operationally essential assets using a net lease structure. Net lease refers to a lease agreement where tenants pay rent as well as some or all property-related expenses, such as taxes, insurance, and maintenance costs. These long-term leases (typically 10-25 years) with built-in rent escalations offer a robust and predictable flow of rental income to the company.
Apart from investments, W. P. Carey also provides a wide range of asset management services. These include strategic advice, acquisitions of property on behalf of affiliated investment programs, real estate financing, portfolio management, maintenance and improvement services, and the supervision of rental collections.
The mission of W. P. Carey Inc. is to provide investors with steady income and capital growth through its investments and business practices. Its philosophy of "Investing for the Long Run" has been the guiding principle for the company throughout its history. WPC is committed to its investors, employees and communities, maintains high standards for environmental, social, and governance (ESG) practices, and adheres to a prudent approach to leverage and risk management.
W. P. Carey Inc.'s financial stability, strategy, and growth mindset have made it a reliable choice for investors seeking long-term, risk-adjusted returns from real estate. Its vast portfolio and business model insulate it from economic downturns and real estate market cycles. Furthermore, WPC is recognized in the market for its long-standing dedication to putting investors first, making it a respected name in the industry.