☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Maryland | 45-4549771 | |||||||
(State of incorporation) | (I.R.S. Employer Identification No.) | |||||||
10001 | ||||||||
(Address of principal executive offices) | (Zip Code) |
Title of each class | Trading Symbol(s) | Name of exchange on which registered | ||||||||||||
Common Stock, $0.001 Par Value | WPC | New York Stock Exchange |
Large accelerated filer | ☑ | Accelerated filer | ☐ | Non-accelerated filer | ☐ | ||||||||||||
Smaller reporting company | ☐ | Emerging growth company | ☐ |
Page No. | ||||||||
PART I | ||||||||
Item 1. | ||||||||
Item 1A. | ||||||||
Item 1B. | ||||||||
Item 2. | ||||||||
Item 3. | ||||||||
Item 4. | ||||||||
PART II | ||||||||
Item 5. | ||||||||
Item 6. | ||||||||
Item 7. | ||||||||
Item 7A. | ||||||||
Item 8. | ||||||||
Item 9. | ||||||||
Item 9A. | ||||||||
Item 9B. | ||||||||
PART III | ||||||||
Item 10. | ||||||||
Item 11. | ||||||||
Item 12. | ||||||||
Item 13. | ||||||||
Item 14. | ||||||||
PART IV | ||||||||
Item 15. | ||||||||
Item 16. | ||||||||
W. P. Carey |
W. P. Carey |
W. P. Carey |
W. P. Carey 2020 10-K– 4 |
W. P. Carey 2020 10-K– 5 |
W. P. Carey 2020 10-K– 7 |
W. P. Carey |
W. P. Carey 2020 10-K– 9 |
W. P. Carey 2020 10-K– 10 |
W. P. Carey 2020 10-K– 11 |
W. P. Carey |
W. P. Carey 2020 10-K– 13 |
W. P. Carey |
W. P. Carey 2020 10-K– 15 |
W. P. Carey 2020 10-K– 16 |
W. P. Carey 2020 10-K– 17 |
W. P. Carey |
W. P. Carey |
W. P. Carey |
At December 31, | At December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | |||||||||||||||||||||||||||||||||||||||||||||||
W. P. Carey Inc. | $ | 100.00 | $ | 89.60 | $ | 95.46 | $ | 118.20 | $ | 119.38 | $ | 153.77 | W. P. Carey Inc. | $ | 100.00 | $ | 106.54 | $ | 131.92 | $ | 133.24 | $ | 171.62 | $ | 161.28 | |||||||||||||||||||||||||||||||||
S&P 500 Index | 100.00 | 101.38 | 113.51 | 138.29 | 132.23 | 173.86 | S&P 500 Index | 100.00 | 111.96 | 136.40 | 130.42 | 171.49 | 203.04 | |||||||||||||||||||||||||||||||||||||||||||||
FTSE NAREIT Equity REITs Index | 100.00 | 103.20 | 111.99 | 117.84 | 112.39 | 141.61 | FTSE NAREIT Equity REITs Index | 100.00 | 108.52 | 114.19 | 108.91 | 137.23 | 126.25 |
W. P. Carey |
Years Ended December 31, | Years Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||||||
2019 | 2018 | 2017 | 2016 | 2015 | 2020 | 2019 | 2018 | 2017 | 2016 | |||||||||||||||||||||||||||||||||||||||
Operating Data | Operating Data | |||||||||||||||||||||||||||||||||||||||||||||||
Revenues (a) | $ | 1,232,766 | $ | 885,732 | $ | 848,302 | $ | 941,533 | $ | 938,383 | ||||||||||||||||||||||||||||||||||||||
Revenues (a) (b) | Revenues (a) (b) | $ | 1,209,319 | $ | 1,232,766 | $ | 885,732 | $ | 848,302 | $ | 941,533 | |||||||||||||||||||||||||||||||||||||
Net income (a) (b) (c) (d) | 306,544 | 424,341 | 285,083 | 274,807 | 185,227 | Net income (a) (b) (c) (d) | 465,955 | 306,544 | 424,341 | 285,083 | 274,807 | |||||||||||||||||||||||||||||||||||||
Net income attributable to noncontrolling interests (a) | (1,301 | ) | (12,775 | ) | (7,794 | ) | (7,060 | ) | (12,969 | ) | ||||||||||||||||||||||||||||||||||||||
Net income attributable to noncontrolling interests (b) | Net income attributable to noncontrolling interests (b) | (10,596) | (1,301) | (12,775) | (7,794) | (7,060) | ||||||||||||||||||||||||||||||||||||||||||
Net income attributable to W. P. Carey (a) (b) (c) (d) | 305,243 | 411,566 | 277,289 | 267,747 | 172,258 | Net income attributable to W. P. Carey (a) (b) (c) (d) | 455,359 | 305,243 | 411,566 | 277,289 | 267,747 | |||||||||||||||||||||||||||||||||||||
Basic earnings per share | 1.78 | 3.50 | 2.56 | 2.50 | 1.62 | Basic earnings per share | 2.61 | 1.78 | 3.50 | 2.56 | 2.50 | |||||||||||||||||||||||||||||||||||||
Diluted earnings per share | 1.78 | 3.49 | 2.56 | 2.49 | 1.61 | Diluted earnings per share | 2.60 | 1.78 | 3.49 | 2.56 | 2.49 | |||||||||||||||||||||||||||||||||||||
Cash dividends declared per share | 4.1400 | 4.0900 | 4.0100 | 3.9292 | 3.8261 | Cash dividends declared per share | 4.1720 | 4.1400 | 4.0900 | 4.0100 | 3.9292 | |||||||||||||||||||||||||||||||||||||
Balance Sheet Data | Balance Sheet Data | |||||||||||||||||||||||||||||||||||||||||||||||
Total assets | $ | 14,060,918 | $ | 14,183,039 | $ | 8,231,402 | $ | 8,453,954 | $ | 8,742,089 | Total assets | $ | 14,707,636 | $ | 14,060,918 | $ | 14,183,039 | $ | 8,231,402 | $ | 8,453,954 | |||||||||||||||||||||||||||
Net investments in real estate | 11,916,745 | 11,928,854 | 6,703,715 | 6,781,900 | 7,229,873 | Net investments in real estate | 12,362,429 | 11,916,745 | 11,928,854 | 6,703,715 | 6,781,900 | |||||||||||||||||||||||||||||||||||||
Senior Unsecured Notes, net | 4,390,189 | 3,554,470 | 2,474,661 | 1,807,200 | 1,476,084 | Senior Unsecured Notes, net | 5,146,192 | 4,390,189 | 3,554,470 | 2,474,661 | 1,807,200 | |||||||||||||||||||||||||||||||||||||
Senior credit facilities | 201,267 | 91,563 | 605,129 | 926,693 | 734,704 | Senior credit facilities | 404,252 | 201,267 | 91,563 | 605,129 | 926,693 | |||||||||||||||||||||||||||||||||||||
Non-recourse mortgages, net | 1,462,487 | 2,732,658 | 1,185,477 | 1,706,921 | 2,269,421 | Non-recourse mortgages, net | 1,145,554 | 1,462,487 | 2,732,658 | 1,185,477 | 1,706,921 |
(a)Amounts from year to year will not be comparable primarily due to fluctuations in gains/losses recognized on the sale of real estate, lease termination and other income, foreign currency exchange rates, and impairment charges. (b)The years ended December 31, 2020, 2019, and 2018 reflect the impact of the CPA:17 Merger, which was completed on October 31, 2018 (Note 3). (c)Amounts for the years ended December 31, 2020 and 2019 include unrealized gains recognized on our investment in shares of Lineage Logistics (a cold storage REIT), totaling $48.3 million and $32.9 million, respectively (Note 9). (d)Amount for the year ended December 31, 2019 includes a loss on change in control of interests of $8.4 million recognized in connection with the CPA:17 Merger. Amount for the year ended December 31, 2018 includes a gain on change in control of interests of $47.8 million recognized in connection with the CPA:17 Merger (Note 3 |
W. P. Carey |
•As part of our active capital recycling program, we disposed of 22 properties for total proceeds, net of selling costs, of $366.5 million (inclusive of $4.7 million attributable to a noncontrolling interest). Disposition activity included the sale of |
W. P. Carey |
•On February 20, 2020, we amended and restated our Senior Unsecured Credit Facility to increase its capacity to $2.1 billion, which is comprised of a $1.8 billion Unsecured Revolving Credit Facility, a £150.0 million Term Loan, and a €96.5 million Delayed Draw Term Loan, all maturing in five years. On that date, we drew down our Term Loan in full by borrowing £150.0 million (equivalent to $193.1 million). On March 27, 2020, we drew down our Delayed Draw Term Loan in full by borrowing €96.5 million (equivalent to $105.9 million) (Note 11). •On June 17, 2020, we entered into certain forward sale agreements in connection with a public offering of 5,462,500 shares of common stock. During the year ended December 31, 2020, we settled a portion of the equity forwards by physically delivering 2,951,791 shares of common stock to certain forward purchasers for net proceeds of $199.7 million. As of December 31, 2020, 2,510,709 shares remained outstanding under the forward sale agreements, which we expect to settle by December 17, 2021 for cash proceeds of approximately $163.2 million (Note 13). •On October 14, 2020, we completed an underwritten public offering of $500.0 million of 2.400% Senior Notes due 2031, at a price of 99.099% of par value. These 2.400% Senior Notes due 2031 have a 10.3-year term and are scheduled to mature on February 1, 2031 (Note 11). •We reduced our mortgage debt outstanding by prepaying or repaying at or close to maturity a total of $294.4 million of non-recourse mortgage loans with a weighted-average interest rate of 5.1% (Note 11). |
W. P. Carey |
Years Ended December 31, | Years Ended December 31, | |||||||||||||||||||||||||||
2019 | 2018 | 2017 | 2020 | 2019 | 2018 | |||||||||||||||||||||||
Revenues from Real Estate | $ | 1,172,863 | $ | 779,125 | $ | 687,208 | Revenues from Real Estate | $ | 1,177,997 | $ | 1,172,863 | $ | 779,125 | |||||||||||||||
Revenues from Investment Management | 59,903 | 106,607 | 161,094 | Revenues from Investment Management | 31,322 | 59,903 | 106,607 | |||||||||||||||||||||
Total revenues | 1,232,766 | 885,732 | 848,302 | Total revenues | 1,209,319 | 1,232,766 | 885,732 | |||||||||||||||||||||
Net income from Real Estate attributable to W. P. Carey | 272,065 | 307,236 | 192,139 | Net income from Real Estate attributable to W. P. Carey | 459,512 | 272,065 | 307,236 | |||||||||||||||||||||
Net income from Investment Management attributable to W. P. Carey | 33,178 | 104,330 | 85,150 | |||||||||||||||||||||||||
Net (loss) income from Investment Management attributable to W. P. Carey | Net (loss) income from Investment Management attributable to W. P. Carey | (4,153) | 33,178 | 104,330 | ||||||||||||||||||||||||
Net income attributable to W. P. Carey | 305,243 | 411,566 | 277,289 | Net income attributable to W. P. Carey | 455,359 | 305,243 | 411,566 | |||||||||||||||||||||
Dividends declared | 713,588 | 502,819 | 433,834 | Dividends declared | 732,020 | 713,588 | 502,819 | |||||||||||||||||||||
Net cash provided by operating activities | 812,077 | 509,166 | 520,659 | Net cash provided by operating activities | 801,538 | 812,077 | 509,166 | |||||||||||||||||||||
Net cash (used in) provided by investing activities | (522,773 | ) | (266,132 | ) | 214,238 | |||||||||||||||||||||||
Net cash used in investing activities | Net cash used in investing activities | (539,932) | (522,773) | (266,132) | ||||||||||||||||||||||||
Net cash used in financing activities | (457,778 | ) | (24,292 | ) | (745,466 | ) | Net cash used in financing activities | (210,713) | (457,778) | (24,292) | ||||||||||||||||||
Supplemental financial measures (a): | Supplemental financial measures (a): | |||||||||||||||||||||||||||
Adjusted funds from operations attributable to W. P. Carey (AFFO) — Real Estate | 811,193 | 516,502 | 456,865 | Adjusted funds from operations attributable to W. P. Carey (AFFO) — Real Estate | 804,175 | 811,193 | 516,502 | |||||||||||||||||||||
Adjusted funds from operations attributable to W. P. Carey (AFFO) — Investment Management | 45,277 | 118,084 | 116,114 | Adjusted funds from operations attributable to W. P. Carey (AFFO) — Investment Management | 24,911 | 45,277 | 118,084 | |||||||||||||||||||||
Adjusted funds from operations attributable to W. P. Carey (AFFO) | 856,470 | 634,586 | 572,979 | Adjusted funds from operations attributable to W. P. Carey (AFFO) | 829,086 | 856,470 | 634,586 | |||||||||||||||||||||
Diluted weighted-average shares outstanding (b) | 171,299,414 | 117,706,445 | 108,035,971 | |||||||||||||||||||||||||
Diluted weighted-average shares outstanding | Diluted weighted-average shares outstanding | 174,839,428 | 171,299,414 | 117,706,445 |
(a)We consider Adjusted funds from operations (“AFFO”), a supplemental measure that is not defined by U.S. generally accepted accounting principles (“GAAP”) |
W. P. Carey 2020 10-K– 25 |
As of December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Number of net-leased properties | 1,243 | 1,214 | 1,163 | ||||||||||||||
Number of operating properties (a) | 20 | 21 | 48 | ||||||||||||||
Number of tenants (net-leased properties) | 350 | 345 | 304 | ||||||||||||||
Total square footage (net-leased properties, in thousands) | 144,259 | 139,982 | 130,956 | ||||||||||||||
Occupancy (net-leased properties) | 98.5 | % | 98.8 | % | 98.3 | % | |||||||||||
Weighted-average lease term (net-leased properties, in years) | 10.6 | 10.7 | 10.2 | ||||||||||||||
Number of countries | 25 | 25 | 25 | ||||||||||||||
Total assets (in thousands) | $ | 14,707,636 | $ | 14,060,918 | $ | 14,183,039 | |||||||||||
Net investments in real estate (in thousands) | 12,362,429 | 11,916,745 | 11,928,854 |
As of December 31, | |||||||||||
2019 | 2018 | 2017 | |||||||||
Number of net-leased properties (a) | 1,214 | 1,163 | 887 | ||||||||
Number of operating properties (b) | 21 | 48 | 2 | ||||||||
Number of tenants (net-leased properties) | 345 | 304 | 210 | ||||||||
Total square footage (net-leased properties, in thousands) (c) | 139,982 | 130,956 | 84,899 | ||||||||
Occupancy (net-leased properties) | 98.8 | % | 98.3 | % | 99.8 | % | |||||
Weighted-average lease term (net-leased properties, in years) | 10.7 | 10.2 | 9.6 | ||||||||
Number of countries (d) | 25 | 25 | 17 | ||||||||
Total assets (in thousands) | $ | 14,060,918 | $ | 14,183,039 | $ | 8,231,402 | |||||
Net investments in real estate (in thousands) | 11,916,745 | 11,928,854 | 6,703,715 |
Years Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Acquisition volume (in millions) (b) | $ | 661.4 | $ | 737.5 | $ | 824.8 | |||||||||||
Construction projects completed (in millions) | 171.2 | 122.5 | 102.5 | ||||||||||||||
Average U.S. dollar/euro exchange rate | 1.1410 | 1.1196 | 1.1813 | ||||||||||||||
Average U.S. dollar/British pound sterling exchange rate | 1.2834 | 1.2767 | 1.3356 | ||||||||||||||
Change in the U.S. CPI (c) | 1.4 | % | 2.3 | % | 1.9 | % | |||||||||||
Change in the Germany CPI (c) | (0.3) | % | 1.5 | % | 1.7 | % | |||||||||||
Change in the Spain CPI (c) | (0.5) | % | 0.8 | % | 1.2 | % | |||||||||||
Change in the Poland CPI (c) | 2.3 | % | 3.2 | % | 1.2 | % | |||||||||||
Change in the Netherlands CPI (c) | 1.0 | % | 2.7 | % | 2.0 | % |
W. P. Carey |
Years Ended December 31, | |||||||||||
2019 | 2018 | 2017 | |||||||||
Acquisition volume (in millions) (e) | $ | 737.5 | $ | 824.8 | $ | 31.8 | |||||
Construction projects completed (in millions) (f) | 122.5 | 102.5 | 65.4 | ||||||||
Average U.S. dollar/euro exchange rate | 1.1196 | 1.1813 | 1.1292 | ||||||||
Average U.S. dollar/British pound sterling exchange rate | 1.2767 | 1.3356 | 1.2882 | ||||||||
Change in the U.S. CPI (g) | 2.3 | % | 1.9 | % | 2.1 | % | |||||
Change in the Germany CPI (g) | 1.5 | % | 1.7 | % | 1.7 | % | |||||
Change in the Poland CPI (g) | 3.2 | % | 1.2 | % | 2.2 | % | |||||
Change in the Netherlands CPI (g) | 2.7 | % | 2.0 | % | 1.3 | % | |||||
Change in the Spain CPI (g) | 0.8 | % | 1.2 | % | 1.1 | % |
Tenant/Lease Guarantor | Description | Number of Properties | ABR | ABR Percent | Weighted-Average Lease Term (Years) | Tenant/Lease Guarantor | Description | Number of Properties | ABR | ABR Percent | Weighted-Average Lease Term (Years) | ||||||||||||||||||||||||||||||||||||
U-Haul Moving Partners Inc. and Mercury Partners, LP | Net lease self-storage properties in the U.S. | 78 | $ | 38,751 | 3.5 | % | 4.3 | U-Haul Moving Partners Inc. and Mercury Partners, LP | Net lease self-storage properties in the U.S. | 78 | $ | 38,751 | 3.3 | % | 3.3 | ||||||||||||||||||||||||||||||||
Hellweg Die Profi-Baumärkte GmbH & Co. KG (a) | Do-it-yourself retail properties in Germany | 42 | 33,338 | 3.0 | % | 17.2 | Hellweg Die Profi-Baumärkte GmbH & Co. KG (a) | Do-it-yourself retail properties in Germany | 42 | 36,579 | 3.1 | % | 16.2 | ||||||||||||||||||||||||||||||||||
State of Andalucía (a) | Government office properties in Spain | 70 | 28,393 | 2.5 | % | 15.0 | State of Andalucía (a) | Government office properties in Spain | 70 | 31,479 | 2.7 | % | 14.0 | ||||||||||||||||||||||||||||||||||
Metro Cash & Carry Italia S.p.A. (a) | Business-to-business wholesale stores in Italy and Germany | 20 | 27,119 | 2.4 | % | 7.3 | Metro Cash & Carry Italia S.p.A. (a) | Business-to-business wholesale stores in Italy and Germany | 20 | 29,723 | 2.5 | % | 6.3 | ||||||||||||||||||||||||||||||||||
Pendragon PLC (a) | Automotive dealerships in the United Kingdom | 69 | 22,449 | 2.0 | % | 10.4 | Pendragon PLC (a) | Automotive dealerships in the United Kingdom | 69 | 23,531 | 2.0 | % | 9.4 | ||||||||||||||||||||||||||||||||||
Extra Space Storage, Inc. | Extra Space Storage, Inc. | Net lease self-storage properties in the U.S. | 27 | 20,332 | 1.7 | % | 23.3 | ||||||||||||||||||||||||||||||||||||||||
Marriott Corporation | Net lease hotel properties in the U.S. | 18 | 20,065 | 1.8 | % | 3.9 | Marriott Corporation | Net lease hotel properties in the U.S. | 18 | 20,065 | 1.7 | % | 2.9 | ||||||||||||||||||||||||||||||||||
Extra Space Storage, Inc. | Net lease self-storage properties in the U.S. | 27 | 19,519 | 1.7 | % | 24.3 | |||||||||||||||||||||||||||||||||||||||||
Eroski Sociedad Cooperativa (a) | Eroski Sociedad Cooperativa (a) | Grocery stores and warehouses in Spain | 58 | 19,589 | 1.6 | % | 15.2 | ||||||||||||||||||||||||||||||||||||||||
Nord Anglia Education, Inc. | K-12 private schools in the U.S. | 3 | 18,734 | 1.7 | % | 23.7 | Nord Anglia Education, Inc. | K-12 private schools in the U.S. | 3 | 19,138 | 1.6 | % | 22.7 | ||||||||||||||||||||||||||||||||||
Forterra, Inc. (a) (b) | Industrial properties in the U.S. and Canada | 27 | 18,394 | 1.7 | % | 23.5 | Forterra, Inc. (a) (b) | Industrial properties in the U.S. and Canada | 27 | 18,781 | 1.6 | % | 22.5 | ||||||||||||||||||||||||||||||||||
Advance Auto Parts, Inc. | Distribution facilities in the U.S. | 30 | 18,345 | 1.6 | % | 13.1 | |||||||||||||||||||||||||||||||||||||||||
Total | 384 | $ | 245,107 | 21.9 | % | 13.3 | Total | 412 | $ | 257,968 | 21.8 | % | 12.6 |
W. P. Carey |
Region | ABR | ABR Percent | Square Footage (a) | Square Footage Percent | |||||||||
United States | |||||||||||||
South | |||||||||||||
Texas | $ | 99,611 | 8.9 | % | 11,411 | 8.2 | % | ||||||
Florida | 47,079 | 4.2 | % | 4,060 | 2.9 | % | |||||||
Georgia | 28,197 | 2.5 | % | 4,024 | 2.9 | % | |||||||
Tennessee | 15,721 | 1.4 | % | 2,260 | 1.6 | % | |||||||
Alabama | 15,273 | 1.4 | % | 2,397 | 1.7 | % | |||||||
Other (b) | 12,622 | 1.1 | % | 2,263 | 1.6 | % | |||||||
Total South | 218,503 | 19.5 | % | 26,415 | 18.9 | % | |||||||
East | |||||||||||||
North Carolina | 32,648 | 2.9 | % | 8,052 | 5.7 | % | |||||||
Pennsylvania | 25,079 | 2.3 | % | 3,609 | 2.6 | % | |||||||
Massachusetts | 21,395 | 1.9 | % | 1,397 | 1.0 | % | |||||||
New Jersey | 19,330 | 1.7 | % | 1,100 | 0.8 | % | |||||||
South Carolina | 15,570 | 1.4 | % | 4,437 | 3.2 | % | |||||||
Virginia | 13,449 | 1.2 | % | 1,430 | 1.0 | % | |||||||
New York | 12,919 | 1.2 | % | 1,392 | 1.0 | % | |||||||
Kentucky | 11,220 | 1.0 | % | 3,063 | 2.2 | % | |||||||
Other (b) | 22,818 | 2.0 | % | 3,531 | 2.5 | % | |||||||
Total East | 174,428 | 15.6 | % | 28,011 | 20.0 | % | |||||||
Midwest | |||||||||||||
Illinois | 51,385 | 4.6 | % | 5,974 | 4.3 | % | |||||||
Minnesota | 25,652 | 2.3 | % | 2,362 | 1.7 | % | |||||||
Indiana | 18,002 | 1.6 | % | 2,827 | 2.0 | % | |||||||
Wisconsin | 15,874 | 1.4 | % | 2,984 | 2.1 | % | |||||||
Ohio | 15,125 | 1.4 | % | 3,153 | 2.2 | % | |||||||
Michigan | 13,898 | 1.2 | % | 2,132 | 1.5 | % | |||||||
Other (b) | 27,471 | 2.5 | % | 4,697 | 3.4 | % | |||||||
Total Midwest | 167,407 | 15.0 | % | 24,129 | 17.2 | % | |||||||
West | |||||||||||||
California | 60,393 | 5.4 | % | 5,162 | 3.7 | % | |||||||
Arizona | 33,826 | 3.0 | % | 3,648 | 2.6 | % | |||||||
Colorado | 11,413 | 1.0 | % | 1,008 | 0.7 | % | |||||||
Other (b) | 44,575 | 4.0 | % | 4,210 | 3.0 | % | |||||||
Total West | 150,207 | 13.4 | % | 14,028 | 10.0 | % | |||||||
United States Total | 710,545 | 63.5 | % | 92,583 | 66.1 | % | |||||||
International | |||||||||||||
Germany | 62,653 | 5.6 | % | 6,769 | 4.8 | % | |||||||
Poland | 52,066 | 4.6 | % | 7,215 | 5.1 | % | |||||||
The Netherlands | 50,698 | 4.5 | % | 6,862 | 4.9 | % | |||||||
Spain | 49,089 | 4.4 | % | 4,226 | 3.0 | % | |||||||
United Kingdom | 42,592 | 3.8 | % | 3,309 | 2.4 | % | |||||||
Italy | 25,513 | 2.3 | % | 2,386 | 1.7 | % | |||||||
Croatia | 16,513 | 1.5 | % | 1,794 | 1.3 | % | |||||||
Denmark | 13,991 | 1.3 | % | 2,320 | 1.7 | % | |||||||
France | 13,336 | 1.2 | % | 1,359 | 1.0 | % | |||||||
Canada | 12,867 | 1.2 | % | 2,103 | 1.5 | % | |||||||
Finland | 11,376 | 1.0 | % | 949 | 0.7 | % | |||||||
Other (c) | 57,280 | 5.1 | % | 8,107 | 5.8 | % | |||||||
International Total | 407,974 | 36.5 | % | 47,399 | 33.9 | % | |||||||
Total | $ | 1,118,519 | 100.0 | % | 139,982 | 100.0 | % |
Region | ABR | ABR Percent | Square Footage (a) | Square Footage Percent | ||||||||||||||||||||||
United States | ||||||||||||||||||||||||||
South | ||||||||||||||||||||||||||
Texas | $ | 102,253 | 8.7 | % | 12,035 | 8.3 | % | |||||||||||||||||||
Florida | 48,650 | 4.1 | % | 4,487 | 3.1 | % | ||||||||||||||||||||
Georgia | 24,057 | 2.0 | % | 3,527 | 2.4 | % | ||||||||||||||||||||
Tennessee | 19,351 | 1.6 | % | 2,875 | 2.0 | % | ||||||||||||||||||||
Alabama | 15,151 | 1.3 | % | 2,382 | 1.7 | % | ||||||||||||||||||||
Other (b) | 11,602 | 1.0 | % | 2,263 | 1.6 | % | ||||||||||||||||||||
Total South | 221,064 | 18.7 | % | 27,569 | 19.1 | % | ||||||||||||||||||||
Midwest | ||||||||||||||||||||||||||
Illinois | 57,030 | 4.8 | % | 7,036 | 4.9 | % | ||||||||||||||||||||
Minnesota | 29,210 | 2.5 | % | 2,728 | 1.9 | % | ||||||||||||||||||||
Indiana | 21,472 | 1.8 | % | 3,198 | 2.2 | % | ||||||||||||||||||||
Wisconsin | 15,854 | 1.4 | % | 3,245 | 2.2 | % | ||||||||||||||||||||
Ohio | 15,389 | 1.3 | % | 3,271 | 2.3 | % | ||||||||||||||||||||
Michigan | 14,279 | 1.2 | % | 2,112 | 1.4 | % | ||||||||||||||||||||
Other (b) | 28,765 | 2.4 | % | 4,877 | 3.4 | % | ||||||||||||||||||||
Total Midwest | 181,999 | 15.4 | % | 26,467 | 18.3 | % | ||||||||||||||||||||
East | ||||||||||||||||||||||||||
North Carolina | 33,439 | 2.8 | % | 8,102 | 5.6 | % | ||||||||||||||||||||
Pennsylvania | 26,648 | 2.3 | % | 3,437 | 2.4 | % | ||||||||||||||||||||
Massachusetts | 21,832 | 1.8 | % | 1,407 | 1.0 | % | ||||||||||||||||||||
New Jersey | 19,707 | 1.7 | % | 1,100 | 0.7 | % | ||||||||||||||||||||
South Carolina | 15,469 | 1.3 | % | 4,321 | 3.0 | % | ||||||||||||||||||||
Virginia | 13,776 | 1.2 | % | 1,430 | 1.0 | % | ||||||||||||||||||||
New York | 13,356 | 1.1 | % | 1,392 | 1.0 | % | ||||||||||||||||||||
Other (b) | 34,320 | 2.9 | % | 6,594 | 4.6 | % | ||||||||||||||||||||
Total East | 178,547 | 15.1 | % | 27,783 | 19.3 | % | ||||||||||||||||||||
West | ||||||||||||||||||||||||||
California | 60,680 | 5.1 | % | 5,195 | 3.6 | % | ||||||||||||||||||||
Arizona | 30,814 | 2.6 | % | 3,365 | 2.3 | % | ||||||||||||||||||||
Other (b) | 53,317 | 4.5 | % | 5,588 | 3.9 | % | ||||||||||||||||||||
Total West | 144,811 | 12.2 | % | 14,148 | 9.8 | % | ||||||||||||||||||||
United States Total | 726,421 | 61.4 | % | 95,967 | 66.5 | % | ||||||||||||||||||||
International | ||||||||||||||||||||||||||
Germany | 68,637 | 5.8 | % | 6,645 | 4.6 | % | ||||||||||||||||||||
Spain | 60,139 | 5.1 | % | 4,708 | 3.3 | % | ||||||||||||||||||||
Poland | 57,598 | 4.9 | % | 7,214 | 5.0 | % | ||||||||||||||||||||
The Netherlands | 53,432 | 4.5 | % | 6,389 | 4.4 | % | ||||||||||||||||||||
United Kingdom | 51,097 | 4.3 | % | 4,035 | 2.8 | % | ||||||||||||||||||||
Italy | 27,969 | 2.4 | % | 2,386 | 1.7 | % | ||||||||||||||||||||
Croatia | 18,348 | 1.5 | % | 1,784 | 1.2 | % | ||||||||||||||||||||
Denmark | 16,311 | 1.4 | % | 2,408 | 1.7 | % | ||||||||||||||||||||
France | 14,486 | 1.2 | % | 1,270 | 0.9 | % | ||||||||||||||||||||
Canada | 13,142 | 1.1 | % | 2,103 | 1.5 | % | ||||||||||||||||||||
Lithuania | 12,089 | 1.0 | % | 1,640 | 1.1 | % | ||||||||||||||||||||
Other (c) | 63,548 | 5.4 | % | 7,710 | 5.3 | % | ||||||||||||||||||||
International Total | 456,796 | 38.6 | % | 48,292 | 33.5 | % | ||||||||||||||||||||
Total | $ | 1,183,217 | 100.0 | % | 144,259 | 100.0 | % |
W. P. Carey |
Property Type | ABR | ABR Percent | Square Footage (a) | Square Footage Percent | ||||||||||||||||||||||
Industrial | $ | 293,878 | 24.8 | % | 51,230 | 35.5 | % | |||||||||||||||||||
Office | 266,776 | 22.5 | % | 17,023 | 11.8 | % | ||||||||||||||||||||
Warehouse | 257,386 | 21.8 | % | 46,950 | 32.6 | % | ||||||||||||||||||||
Retail (d) | 214,249 | 18.1 | % | 17,936 | 12.4 | % | ||||||||||||||||||||
Self Storage (net lease) | 59,083 | 5.0 | % | 5,810 | 4.0 | % | ||||||||||||||||||||
Other (e) | 91,845 | 7.8 | % | 5,310 | 3.7 | % | ||||||||||||||||||||
Total | $ | 1,183,217 | 100.0 | % | 144,259 | 100.0 | % |
Property Type | ABR | ABR Percent | Square Footage (a) | Square Footage Percent | |||||||||
Industrial | $ | 268,434 | 24.0 | % | 47,996 | 34.3 | % | ||||||
Office | 251,519 | 22.5 | % | 16,894 | 12.1 | % | |||||||
Warehouse | 240,200 | 21.5 | % | 46,169 | 33.0 | % | |||||||
Retail (d) | 198,686 | 17.7 | % | 17,556 | 12.5 | % | |||||||
Self Storage (net lease) | 58,270 | 5.2 | % | 5,810 | 4.1 | % | |||||||
Other (e) | 101,410 | 9.1 | % | 5,557 | 4.0 | % | |||||||
Total | $ | 1,118,519 | 100.0 | % | 139,982 | 100.0 | % |
W. P. Carey |
Industry Type | ABR | ABR Percent | Square Footage | Square Footage Percent | Industry Type | ABR | ABR Percent | Square Footage | Square Footage Percent | ||||||||||||||||||||||||||||||
Retail Stores (a) | $ | 233,346 | 20.9 | % | 30,993 | 22.1 | % | Retail Stores (a) | $ | 264,551 | 22.4 | % | 31,755 | 22.0 | % | ||||||||||||||||||||||||
Consumer Services | 113,588 | 10.1 | % | 8,429 | 6.0 | % | Consumer Services | 97,014 | 8.2 | % | 7,737 | 5.4 | % | ||||||||||||||||||||||||||
Automotive | 72,679 | 6.5 | % | 12,166 | 8.7 | % | Automotive | 75,753 | 6.4 | % | 12,091 | 8.4 | % | ||||||||||||||||||||||||||
Grocery | Grocery | 69,919 | 5.9 | % | 7,318 | 5.1 | % | ||||||||||||||||||||||||||||||||
Cargo Transportation | 60,211 | 5.4 | % | 9,345 | 6.7 | % | Cargo Transportation | 63,764 | 5.4 | % | 9,013 | 6.2 | % | ||||||||||||||||||||||||||
Healthcare and Pharmaceuticals | Healthcare and Pharmaceuticals | 57,048 | 4.8 | % | 4,976 | 3.5 | % | ||||||||||||||||||||||||||||||||
Business Services | 60,073 | 5.4 | % | 5,272 | 3.8 | % | Business Services | 55,596 | 4.7 | % | 4,715 | 3.3 | % | ||||||||||||||||||||||||||
Grocery | 56,574 | 5.1 | % | 6,549 | 4.7 | % | |||||||||||||||||||||||||||||||||
Healthcare and Pharmaceuticals | 51,010 | 4.6 | % | 4,281 | 3.1 | % | |||||||||||||||||||||||||||||||||
Hotel, Gaming, and Leisure | 43,663 | 3.9 | % | 2,423 | 1.7 | % | |||||||||||||||||||||||||||||||||
Beverage and Food | Beverage and Food | 52,682 | 4.4 | % | 5,930 | 4.1 | % | ||||||||||||||||||||||||||||||||
Construction and Building | 42,290 | 3.8 | % | 7,673 | 5.5 | % | Construction and Building | 49,738 | 4.2 | % | 9,156 | 6.3 | % | ||||||||||||||||||||||||||
Sovereign and Public Finance | Sovereign and Public Finance | 43,376 | 3.7 | % | 3,364 | 2.3 | % | ||||||||||||||||||||||||||||||||
Capital Equipment | 39,686 | 3.5 | % | 6,550 | 4.7 | % | Capital Equipment | 43,246 | 3.7 | % | 6,932 | 4.8 | % | ||||||||||||||||||||||||||
Sovereign and Public Finance | 39,259 | 3.5 | % | 3,364 | 2.4 | % | |||||||||||||||||||||||||||||||||
Beverage, Food, and Tobacco | 37,825 | 3.4 | % | 4,862 | 3.5 | % | |||||||||||||||||||||||||||||||||
Containers, Packaging, and Glass | 35,718 | 3.2 | % | 6,186 | 4.4 | % | Containers, Packaging, and Glass | 36,114 | 3.0 | % | 6,186 | 4.3 | % | ||||||||||||||||||||||||||
Hotel and Leisure | Hotel and Leisure | 35,206 | 3.0 | % | 2,197 | 1.5 | % | ||||||||||||||||||||||||||||||||
Durable Consumer Goods | Durable Consumer Goods | 35,201 | 3.0 | % | 8,170 | 5.7 | % | ||||||||||||||||||||||||||||||||
High Tech Industries | 30,444 | 2.7 | % | 3,384 | 2.4 | % | High Tech Industries | 29,568 | 2.5 | % | 3,236 | 2.2 | % | ||||||||||||||||||||||||||
Durable Consumer Goods | 30,214 | 2.7 | % | 6,870 | 4.9 | % | |||||||||||||||||||||||||||||||||
Insurance | 24,875 | 2.2 | % | 1,759 | 1.3 | % | Insurance | 25,372 | 2.1 | % | 1,749 | 1.2 | % | ||||||||||||||||||||||||||
Banking | 19,239 | 1.7 | % | 1,247 | 0.9 | % | Banking | 20,326 | 1.7 | % | 1,247 | 0.9 | % | ||||||||||||||||||||||||||
Telecommunications | 18,803 | 1.7 | % | 1,732 | 1.2 | % | Telecommunications | 17,516 | 1.5 | % | 1,571 | 1.1 | % | ||||||||||||||||||||||||||
Non-Durable Consumer Goods | 15,088 | 1.3 | % | 5,194 | 3.7 | % | |||||||||||||||||||||||||||||||||
Media: Advertising, Printing, and Publishing | 14,785 | 1.3 | % | 1,435 | 1.0 | % | |||||||||||||||||||||||||||||||||
Aerospace and Defense | 13,539 | 1.2 | % | 1,279 | 0.9 | % | Aerospace and Defense | 16,602 | 1.4 | % | 1,504 | 1.0 | % | ||||||||||||||||||||||||||
Media: Broadcasting and Subscription | 12,787 | 1.1 | % | 784 | 0.6 | % | Media: Broadcasting and Subscription | 13,679 | 1.2 | % | 784 | 0.5 | % | ||||||||||||||||||||||||||
Media: Advertising, Printing, and Publishing | Media: Advertising, Printing, and Publishing | 13,535 | 1.1 | % | 1,001 | 0.7 | % | ||||||||||||||||||||||||||||||||
Chemicals, Plastics, and Rubber | Chemicals, Plastics, and Rubber | 12,917 | 1.1 | % | 1,584 | 1.1 | % | ||||||||||||||||||||||||||||||||
Wholesale | 12,206 | 1.1 | % | 2,005 | 1.4 | % | Wholesale | 12,755 | 1.1 | % | 2,005 | 1.4 | % | ||||||||||||||||||||||||||
Chemicals, Plastics, and Rubber | 12,037 | 1.1 | % | 1,403 | 1.0 | % | |||||||||||||||||||||||||||||||||
Non-Durable Consumer Goods | Non-Durable Consumer Goods | 12,370 | 1.0 | % | 4,685 | 3.3 | % | ||||||||||||||||||||||||||||||||
Other (b) | 28,580 | 2.6 | % | 4,797 | 3.4 | % | Other (b) | 29,369 | 2.5 | % | 5,353 | 3.7 | % | ||||||||||||||||||||||||||
Total | $ | 1,118,519 | 100.0 | % | 139,982 | 100.0 | % | Total | $ | 1,183,217 | 100.0 | % | 144,259 | 100.0 | % |
W. P. Carey |
Year of Lease Expiration (a) | Number of Leases Expiring | Number of Tenants with Leases Expiring | ABR | ABR Percent | Square Footage | Square Footage Percent | Year of Lease Expiration (a) | Number of Leases Expiring | Number of Tenants with Leases Expiring | ABR | ABR Percent | Square Footage | Square Footage Percent | ||||||||||||||||||||||||||||||||||||||||||||
2020 | 25 | 22 | $ | 19,294 | 1.7 | % | 2,050 | 1.5 | % | ||||||||||||||||||||||||||||||||||||||||||||||||
2021 | 77 | 23 | 33,967 | 3.0 | % | 3,899 | 2.8 | % | 2021 | 26 | 24 | $ | 20,326 | 1.7 | % | 1,903 | 1.3 | % | |||||||||||||||||||||||||||||||||||||||
2022 | 41 | 32 | 58,261 | 5.2 | % | 5,377 | 3.8 | % | 2022 | 27 | 26 | 40,314 | 3.4 | % | 3,001 | 2.1 | % | ||||||||||||||||||||||||||||||||||||||||
2023 | 31 | 28 | 46,954 | 4.2 | % | 5,919 | 4.2 | % | 2023 | 38 | 32 | 51,921 | 4.4 | % | 6,305 | 4.4 | % | ||||||||||||||||||||||||||||||||||||||||
2024 | 76 | 49 | 111,646 | 10.0 | % | 13,961 | 10.0 | % | 2024 | 77 | 50 | 112,828 | 9.5 | % | 14,025 | 9.7 | % | ||||||||||||||||||||||||||||||||||||||||
2025 | 61 | 30 | 58,023 | 5.2 | % | 7,194 | 5.1 | % | 2025 | 62 | 30 | 62,991 | 5.3 | % | 7,307 | 5.1 | % | ||||||||||||||||||||||||||||||||||||||||
2026 | 32 | 20 | 49,824 | 4.5 | % | 7,354 | 5.2 | % | 2026 | 42 | 28 | 62,501 | 5.3 | % | 8,608 | 6.0 | % | ||||||||||||||||||||||||||||||||||||||||
2027 | 45 | 27 | 71,604 | 6.4 | % | 8,237 | 5.9 | % | 2027 | 44 | 27 | 73,143 | 6.2 | % | 8,068 | 5.6 | % | ||||||||||||||||||||||||||||||||||||||||
2028 | 43 | 25 | 61,774 | 5.5 | % | 4,867 | 3.5 | % | 2028 | 42 | 24 | 63,776 | 5.4 | % | 4,829 | 3.3 | % | ||||||||||||||||||||||||||||||||||||||||
2029 | 31 | 18 | 36,289 | 3.2 | % | 4,561 | 3.3 | % | 2029 | 32 | 19 | 39,820 | 3.4 | % | 4,946 | 3.4 | % | ||||||||||||||||||||||||||||||||||||||||
2030 | 28 | 22 | 73,580 | 6.6 | % | 6,638 | 4.7 | % | 2030 | 27 | 22 | 70,282 | 5.9 | % | 5,737 | 4.0 | % | ||||||||||||||||||||||||||||||||||||||||
2031 | 66 | 16 | 68,973 | 6.2 | % | 8,155 | 5.8 | % | 2031 | 66 | 16 | 71,202 | 6.0 | % | 8,154 | 5.6 | % | ||||||||||||||||||||||||||||||||||||||||
2032 | 35 | 14 | 43,105 | 3.9 | % | 5,914 | 4.2 | % | 2032 | 35 | 15 | 47,362 | 4.0 | % | 6,625 | 4.6 | % | ||||||||||||||||||||||||||||||||||||||||
2033 | 19 | 13 | 48,275 | 4.3 | % | 6,672 | 4.8 | % | 2033 | 23 | 17 | 64,678 | 5.5 | % | 8,192 | 5.7 | % | ||||||||||||||||||||||||||||||||||||||||
Thereafter (>2033) | 172 | 84 | 336,950 | 30.1 | % | 47,554 | 34.0 | % | |||||||||||||||||||||||||||||||||||||||||||||||||
2034 | 2034 | 47 | 15 | 77,836 | 6.6 | % | 7,765 | 5.4 | % | ||||||||||||||||||||||||||||||||||||||||||||||||
Thereafter (>2034) | Thereafter (>2034) | 185 | 83 | 324,237 | 27.4 | % | 46,560 | 32.3 | % | ||||||||||||||||||||||||||||||||||||||||||||||||
Vacant | — | — | — | — | % | 1,630 | 1.2 | % | Vacant | — | — | — | — | % | 2,234 | 1.5 | % | ||||||||||||||||||||||||||||||||||||||||
Total | 782 | $ | 1,118,519 | 100.0 | % | 139,982 | 100.0 | % | Total | 773 | $ | 1,183,217 | 100.0 | % | 144,259 | 100.0 | % |
W. P. Carey |
Years Ended December 31, | |||||||||||||||||||||||||||||||||||
2020 | 2019 | Change | 2019 | 2018 | Change | ||||||||||||||||||||||||||||||
Existing Net-Leased Properties | |||||||||||||||||||||||||||||||||||
Lease revenues | $ | 633,177 | $ | 622,490 | $ | 10,687 | $ | 622,490 | $ | 612,460 | $ | 10,030 | |||||||||||||||||||||||
Depreciation and amortization | (216,800) | (217,272) | 472 | (217,272) | (223,982) | 6,710 | |||||||||||||||||||||||||||||
Reimbursable tenant costs | (25,969) | (25,566) | (403) | (25,566) | (21,204) | (4,362) | |||||||||||||||||||||||||||||
Property expenses | (24,159) | (18,956) | (5,203) | (18,956) | (16,868) | (2,088) | |||||||||||||||||||||||||||||
Property level contribution | 366,249 | 360,696 | 5,553 | 360,696 | 350,406 | 10,290 | |||||||||||||||||||||||||||||
Net-Leased Properties Acquired in the CPA:17 Merger | |||||||||||||||||||||||||||||||||||
Lease revenues | 356,166 | 344,606 | 11,560 | 344,606 | 54,585 | 290,021 | |||||||||||||||||||||||||||||
Depreciation and amortization | (149,688) | (150,866) | 1,178 | (150,866) | (21,820) | (129,046) | |||||||||||||||||||||||||||||
Reimbursable tenant costs | (27,193) | (27,618) | 425 | (27,618) | (5,062) | (22,556) | |||||||||||||||||||||||||||||
Property expenses | (16,388) | (15,457) | (931) | (15,457) | (2,685) | (12,772) | |||||||||||||||||||||||||||||
Property level contribution | 162,897 | 150,665 | 12,232 | 150,665 | 25,018 | 125,647 | |||||||||||||||||||||||||||||
Recently Acquired Net-Leased Properties | |||||||||||||||||||||||||||||||||||
Lease revenues | 149,218 | 87,414 | 61,804 | 87,414 | 26,374 | 61,040 | |||||||||||||||||||||||||||||
Depreciation and amortization | (61,246) | (36,059) | (25,187) | (36,059) | (11,465) | (24,594) | |||||||||||||||||||||||||||||
Reimbursable tenant costs | (3,052) | (1,909) | (1,143) | (1,909) | (396) | (1,513) | |||||||||||||||||||||||||||||
Property expenses | (2,347) | (1,360) | (987) | (1,360) | (385) | (975) | |||||||||||||||||||||||||||||
Property level contribution | 82,573 | 48,086 | 34,487 | 48,086 | 14,128 | 33,958 | |||||||||||||||||||||||||||||
Existing Operating Property | |||||||||||||||||||||||||||||||||||
Operating property revenues | 3,967 | 15,001 | (11,034) | 15,001 | 15,179 | (178) | |||||||||||||||||||||||||||||
Depreciation and amortization | (1,547) | (1,515) | (32) | (1,515) | (1,947) | 432 | |||||||||||||||||||||||||||||
Operating property expenses | (5,722) | (11,742) | 6,020 | (11,742) | (11,607) | (135) | |||||||||||||||||||||||||||||
Property level contribution | (3,302) | 1,744 | (5,046) | 1,744 | 1,625 | 119 | |||||||||||||||||||||||||||||
Operating Properties Acquired in the CPA:17 Merger | |||||||||||||||||||||||||||||||||||
Operating property revenues | 5,542 | 20,787 | (15,245) | 20,787 | 6,391 | 14,396 | |||||||||||||||||||||||||||||
Depreciation and amortization | (2,470) | (19,502) | 17,032 | (19,502) | (6,040) | (13,462) | |||||||||||||||||||||||||||||
Operating property expenses | (2,275) | (8,205) | 5,930 | (8,205) | (2,258) | (5,947) | |||||||||||||||||||||||||||||
Property level contribution | 797 | (6,920) | 7,717 | (6,920) | (1,907) | (5,013) | |||||||||||||||||||||||||||||
Properties Sold or Held for Sale | |||||||||||||||||||||||||||||||||||
Lease revenues | 15,943 | 31,865 | (15,922) | 31,865 | 51,079 | (19,214) | |||||||||||||||||||||||||||||
Operating property revenues | 1,890 | 14,432 | (12,542) | 14,432 | 6,502 | 7,930 | |||||||||||||||||||||||||||||
Depreciation and amortization | (6,095) | (16,855) | 10,760 | (16,855) | (20,918) | 4,063 | |||||||||||||||||||||||||||||
Reimbursable tenant costs | (195) | (483) | 288 | (483) | (1,414) | 931 | |||||||||||||||||||||||||||||
Property expenses | (1,173) | (3,772) | 2,599 | (3,772) | (2,835) | (937) | |||||||||||||||||||||||||||||
Operating property expenses | (1,904) | (18,068) | 16,164 | (18,068) | (6,285) | (11,783) | |||||||||||||||||||||||||||||
Property level contribution | 8,466 | 7,119 | 1,347 | 7,119 | 26,129 | (19,010) | |||||||||||||||||||||||||||||
Property Level Contribution | 617,680 | 561,390 | 56,290 | 561,390 | 415,399 | 145,991 | |||||||||||||||||||||||||||||
Add: Lease termination income and other | 12,094 | 36,268 | (24,174) | 36,268 | 6,555 | 29,713 | |||||||||||||||||||||||||||||
Less other expenses: | |||||||||||||||||||||||||||||||||||
General and administrative | (70,127) | (56,796) | (13,331) | (56,796) | (47,210) | (9,586) | |||||||||||||||||||||||||||||
Impairment charges | (35,830) | (32,539) | (3,291) | (32,539) | (4,790) | (27,749) | |||||||||||||||||||||||||||||
Stock-based compensation expense | (15,247) | (13,248) | (1,999) | (13,248) | (10,450) | (2,798) | |||||||||||||||||||||||||||||
Corporate depreciation and amortization | (4,102) | (1,231) | (2,871) | (1,231) | (1,289) | 58 | |||||||||||||||||||||||||||||
Merger and other expenses | 937 | (101) | 1,038 | (101) | (41,426) | 41,325 | |||||||||||||||||||||||||||||
Other Income and Expenses | |||||||||||||||||||||||||||||||||||
Interest expense | (210,087) | (233,325) | 23,238 | (233,325) | (178,375) | (54,950) | |||||||||||||||||||||||||||||
Gain on sale of real estate, net | 109,370 | 18,143 | 91,227 | 18,143 | 118,605 | (100,462) | |||||||||||||||||||||||||||||
Other gains and (losses) | 46,074 | 30,251 | 15,823 | 30,251 | 30,015 | 236 | |||||||||||||||||||||||||||||
Equity in (losses) earnings of equity method investments in real estate | (9,017) | 2,361 | (11,378) | 2,361 | 13,341 | (10,980) | |||||||||||||||||||||||||||||
(Loss) gain on change in control of interests | — | (8,416) | 8,416 | (8,416) | 18,792 | (27,208) | |||||||||||||||||||||||||||||
(63,660) | (190,986) | 127,326 | (190,986) | 2,378 | (193,364) | ||||||||||||||||||||||||||||||
Income before income taxes | 441,745 | 302,757 | 138,988 | 302,757 | 319,167 | (16,410) | |||||||||||||||||||||||||||||
Benefit from (provision for) income taxes | 18,498 | (30,802) | 49,300 | (30,802) | 844 | (31,646) | |||||||||||||||||||||||||||||
Net Income from Real Estate | 460,243 | 271,955 | 188,288 | 271,955 | 320,011 | (48,056) | |||||||||||||||||||||||||||||
Net (income) loss attributable to noncontrolling interests | (731) | 110 | (841) | 110 | (12,775) | 12,885 | |||||||||||||||||||||||||||||
Net Income from Real Estate Attributable to W. P. Carey | $ | 459,512 | $ | 272,065 | $ | 187,447 | $ | 272,065 | $ | 307,236 | $ | (35,171) |
Years Ended December 31, | |||||||||||||||||||||||
2019 | 2018 | Change | 2018 | 2017 | Change | ||||||||||||||||||
Existing Net-Leased Properties | |||||||||||||||||||||||
Lease revenues | $ | 634,557 | $ | 624,698 | $ | 9,859 | $ | 624,698 | $ | 603,889 | $ | 20,809 | |||||||||||
Depreciation and amortization | (221,176 | ) | (228,060 | ) | 6,884 | (228,060 | ) | (222,308 | ) | (5,752 | ) | ||||||||||||
Reimbursable tenant costs | (25,800 | ) | (21,445 | ) | (4,355 | ) | (21,445 | ) | (19,590 | ) | (1,855 | ) | |||||||||||
Property expenses | (19,373 | ) | (17,201 | ) | (2,172 | ) | (17,201 | ) | (14,223 | ) | (2,978 | ) | |||||||||||
Property level contribution | 368,208 | 357,992 | 10,216 | 357,992 | 347,768 | 10,224 | |||||||||||||||||
Net-Leased Properties Acquired in the CPA:17 Merger | |||||||||||||||||||||||
Lease revenues | 349,518 | 55,403 | 294,115 | 55,403 | — | 55,403 | |||||||||||||||||
Depreciation and amortization | (152,757 | ) | (22,136 | ) | (130,621 | ) | (22,136 | ) | — | (22,136 | ) | ||||||||||||
Reimbursable tenant costs | (27,618 | ) | (5,062 | ) | (22,556 | ) | (5,062 | ) | — | (5,062 | ) | ||||||||||||
Property expenses | (15,454 | ) | (2,685 | ) | (12,769 | ) | (2,685 | ) | — | (2,685 | ) | ||||||||||||
Property level contribution | 153,689 | 25,520 | 128,169 | 25,520 | — | 25,520 | |||||||||||||||||
Recently Acquired Net-Leased Properties | |||||||||||||||||||||||
Lease revenues | 90,382 | 29,198 | 61,184 | 29,198 | 495 | 28,703 | |||||||||||||||||
Depreciation and amortization | (37,438 | ) | (12,730 | ) | (24,708 | ) | (12,730 | ) | (174 | ) | (12,556 | ) | |||||||||||
Reimbursable tenant costs | (1,928 | ) | (406 | ) | (1,522 | ) | (406 | ) | (3 | ) | (403 | ) | |||||||||||
Property expenses | (1,367 | ) | (400 | ) | (967 | ) | (400 | ) | (78 | ) | (322 | ) | |||||||||||
Property level contribution | 49,649 | 15,662 | 33,987 | 15,662 | 240 | 15,422 | |||||||||||||||||
Existing Operating Property | |||||||||||||||||||||||
Operating property revenues | 15,001 | 15,179 | (178 | ) | 15,179 | 14,554 | 625 | ||||||||||||||||
Depreciation and amortization | (1,515 | ) | (1,947 | ) | 432 | (1,947 | ) | (1,714 | ) | (233 | ) | ||||||||||||
Operating property expenses | (11,742 | ) | (11,607 | ) | (135 | ) | (11,607 | ) | (11,358 | ) | (249 | ) | |||||||||||
Property level contribution | 1,744 | 1,625 | 119 | 1,625 | 1,482 | 143 | |||||||||||||||||
Operating Properties Acquired in the CPA:17 Merger | |||||||||||||||||||||||
Operating property revenues | 20,787 | 6,391 | 14,396 | 6,391 | — | 6,391 | |||||||||||||||||
Depreciation and amortization | (19,502 | ) | (6,040 | ) | (13,462 | ) | (6,040 | ) | — | (6,040 | ) | ||||||||||||
Operating property expenses | (8,205 | ) | (2,258 | ) | (5,947 | ) | (2,258 | ) | — | (2,258 | ) | ||||||||||||
Property level contribution | (6,920 | ) | (1,907 | ) | (5,013 | ) | (1,907 | ) | — | (1,907 | ) | ||||||||||||
Properties Sold or Held for Sale | |||||||||||||||||||||||
Lease revenues | 11,918 | 35,199 | (23,281 | ) | 35,199 | 47,513 | (12,314 | ) | |||||||||||||||
Operating property revenues | 14,432 | 6,502 | 7,930 | 6,502 | 16,008 | (9,506 | ) | ||||||||||||||||
Depreciation and amortization | (9,681 | ) | (15,259 | ) | 5,578 | (15,259 | ) | (23,947 | ) | 8,688 | |||||||||||||
Reimbursable tenant costs | (230 | ) | (1,163 | ) | 933 | (1,163 | ) | (1,931 | ) | 768 | |||||||||||||
Property expenses | (3,351 | ) | (2,487 | ) | (864 | ) | (2,487 | ) | (3,029 | ) | 542 | ||||||||||||
Operating property expenses | (18,068 | ) | (6,285 | ) | (11,783 | ) | (6,285 | ) | (12,068 | ) | 5,783 | ||||||||||||
Property level contribution | (4,980 | ) | 16,507 | (21,487 | ) | 16,507 | 22,546 | (6,039 | ) | ||||||||||||||
Property Level Contribution | 561,390 | 415,399 | 145,991 | 415,399 | 372,036 | 43,363 | |||||||||||||||||
Add: Lease termination income and other | 36,268 | 6,555 | 29,713 | 6,555 | 4,749 | 1,806 | |||||||||||||||||
Less other expenses: | |||||||||||||||||||||||
General and administrative | (56,796 | ) | (47,210 | ) | (9,586 | ) | (47,210 | ) | (39,002 | ) | (8,208 | ) | |||||||||||
Impairment charges | (32,539 | ) | (4,790 | ) | (27,749 | ) | (4,790 | ) | (2,769 | ) | (2,021 | ) | |||||||||||
Stock-based compensation expense | (13,248 | ) | (10,450 | ) | (2,798 | ) | (10,450 | ) | (6,960 | ) | (3,490 | ) | |||||||||||
Corporate depreciation and amortization | (1,231 | ) | (1,289 | ) | 58 | (1,289 | ) | (1,289 | ) | — | |||||||||||||
Merger and other expenses | (101 | ) | (41,426 | ) | 41,325 | (41,426 | ) | (605 | ) | (40,821 | ) | ||||||||||||
Other Income and Expenses | |||||||||||||||||||||||
Interest expense | (233,325 | ) | (178,375 | ) | (54,950 | ) | (178,375 | ) | (165,775 | ) | (12,600 | ) | |||||||||||
Other gains and (losses) | 30,251 | 30,015 | 236 | 30,015 | (5,655 | ) | 35,670 | ||||||||||||||||
Gain on sale of real estate, net | 18,143 | 118,605 | (100,462 | ) | 118,605 | 33,878 | 84,727 | ||||||||||||||||
(Loss) gain on change in control of interests | (8,416 | ) | 18,792 | (27,208 | ) | 18,792 | — | 18,792 | |||||||||||||||
Equity in earnings of equity method investments in real estate | 2,361 | 13,341 | (10,980 | ) | 13,341 | 13,068 | 273 | ||||||||||||||||
(190,986 | ) | 2,378 | (193,364 | ) | 2,378 | (124,484 | ) | 126,862 | |||||||||||||||
Income before income taxes | 302,757 | 319,167 | (16,410 | ) | 319,167 | 201,676 | 117,491 | ||||||||||||||||
(Provision for) benefit from income taxes | (30,802 | ) | 844 | (31,646 | ) | 844 | (1,743 | ) | 2,587 | ||||||||||||||
Net Income from Real Estate | 271,955 | 320,011 | (48,056 | ) | 320,011 | 199,933 | 120,078 | ||||||||||||||||
Net loss (income) attributable to noncontrolling interests | 110 | (12,775 | ) | 12,885 | (12,775 | ) | (7,794 | ) | (4,981 | ) | |||||||||||||
Net Income from Real Estate Attributable to W. P. Carey | $ | 272,065 | $ | 307,236 | $ | (35,171 | ) | $ | 307,236 | $ | 192,139 | $ | 115,097 |
W. P. Carey |
W. P. Carey 2020 10-K– 33 |
W. P. Carey 2020 10-K– 35 |
Years Ended December 31, | |||||||||||
2019 | 2018 | 2017 | |||||||||
Equity in earnings of equity method investments in real estate: | |||||||||||
Equity investments acquired in the CPA:17 Merger | $ | 2,510 | $ | 342 | $ | — | |||||
Recently acquired equity investment | (409 | ) | (115 | ) | — | ||||||
Retired equity investment | 260 | 1,275 | 1,275 | ||||||||
Equity investments consolidated after the CPA:17 Merger | — | 11,839 | 11,793 | ||||||||
Equity in earnings of equity method investments in real estate | $ | 2,361 | $ | 13,341 | $ | 13,068 |
W. P. Carey |
Years Ended December 31, | |||||||||||||||||||||||||||||||||||
2020 | 2019 | Change | 2019 | 2018 | Change | ||||||||||||||||||||||||||||||
Revenues | |||||||||||||||||||||||||||||||||||
Asset management revenue | |||||||||||||||||||||||||||||||||||
CPA:17 – Global | $ | — | $ | — | $ | — | $ | — | $ | 24,884 | $ | (24,884) | |||||||||||||||||||||||
CPA:18 – Global | 11,914 | 11,539 | 375 | 11,539 | 12,087 | (548) | |||||||||||||||||||||||||||||
CWI 1 | 3,795 | 14,052 | (10,257) | 14,052 | 14,136 | (84) | |||||||||||||||||||||||||||||
CWI 2 | 3,071 | 10,734 | (7,663) | 10,734 | 10,400 | 334 | |||||||||||||||||||||||||||||
CESH | 3,193 | 2,807 | 386 | 2,807 | 2,049 | 758 | |||||||||||||||||||||||||||||
21,973 | 39,132 | (17,159) | 39,132 | 63,556 | (24,424) | ||||||||||||||||||||||||||||||
Reimbursable costs from affiliates | |||||||||||||||||||||||||||||||||||
CPA:17 – Global | — | — | — | — | 6,233 | (6,233) | |||||||||||||||||||||||||||||
CPA:18 – Global | 2,854 | 3,934 | (1,080) | 3,934 | 4,207 | (273) | |||||||||||||||||||||||||||||
CWI 1 | 1,867 | 6,936 | (5,069) | 6,936 | 6,653 | 283 | |||||||||||||||||||||||||||||
CWI 2 | 1,301 | 4,364 | (3,063) | 4,364 | 4,171 | 193 | |||||||||||||||||||||||||||||
CESH | 1,170 | 1,313 | (143) | 1,313 | 661 | 652 | |||||||||||||||||||||||||||||
WLT | 1,663 | — | 1,663 | — | — | — | |||||||||||||||||||||||||||||
8,855 | 16,547 | (7,692) | 16,547 | 21,925 | (5,378) | ||||||||||||||||||||||||||||||
Structuring and other advisory revenue | |||||||||||||||||||||||||||||||||||
CPA:17 – Global | — | — | — | — | 1,184 | (1,184) | |||||||||||||||||||||||||||||
CPA:18 – Global | 198 | 2,322 | (2,124) | 2,322 | 18,900 | (16,578) | |||||||||||||||||||||||||||||
CWI 1 | — | 1,365 | (1,365) | 1,365 | 953 | 412 | |||||||||||||||||||||||||||||
CWI 2 | 296 | 225 | 71 | 225 | 245 | (20) | |||||||||||||||||||||||||||||
CESH | — | 312 | (312) | 312 | (156) | 468 | |||||||||||||||||||||||||||||
494 | 4,224 | (3,730) | 4,224 | 21,126 | (16,902) | ||||||||||||||||||||||||||||||
31,322 | 59,903 | (28,581) | 59,903 | 106,607 | (46,704) | ||||||||||||||||||||||||||||||
Operating Expenses | |||||||||||||||||||||||||||||||||||
Reimbursable costs from affiliates | 8,855 | 16,547 | (7,692) | 16,547 | 21,925 | (5,378) | |||||||||||||||||||||||||||||
General and administrative | 5,823 | 18,497 | (12,674) | 18,497 | 21,127 | (2,630) | |||||||||||||||||||||||||||||
Subadvisor fees | 1,469 | 7,579 | (6,110) | 7,579 | 9,240 | (1,661) | |||||||||||||||||||||||||||||
Merger and other expenses | 1,184 | — | 1,184 | — | — | — | |||||||||||||||||||||||||||||
Depreciation and amortization | 987 | 3,835 | (2,848) | 3,835 | 3,979 | (144) | |||||||||||||||||||||||||||||
Stock-based compensation expense | 691 | 5,539 | (4,848) | 5,539 | 7,844 | (2,305) | |||||||||||||||||||||||||||||
19,009 | 51,997 | (32,988) | 51,997 | 64,115 | (12,118) | ||||||||||||||||||||||||||||||
Other Income and Expenses | |||||||||||||||||||||||||||||||||||
Equity in (losses) earnings of equity method investments in the Managed Programs | (9,540) | 20,868 | (30,408) | 20,868 | 48,173 | (27,305) | |||||||||||||||||||||||||||||
Other gains and (losses) | 678 | 1,224 | (546) | 1,224 | (102) | 1,326 | |||||||||||||||||||||||||||||
Gain on change in control of interests | — | — | — | — | 29,022 | (29,022) | |||||||||||||||||||||||||||||
(8,862) | 22,092 | (30,954) | 22,092 | 77,093 | (55,001) | ||||||||||||||||||||||||||||||
Income before income taxes | 3,451 | 29,998 | (26,547) | 29,998 | 119,585 | (89,587) | |||||||||||||||||||||||||||||
Benefit from (provision for) income taxes | 2,261 | 4,591 | (2,330) | 4,591 | (15,255) | 19,846 | |||||||||||||||||||||||||||||
Net Income from Investment Management | 5,712 | 34,589 | (28,877) | 34,589 | 104,330 | (69,741) | |||||||||||||||||||||||||||||
Net income attributable to noncontrolling interests | (9,865) | (1,411) | (8,454) | (1,411) | — | (1,411) | |||||||||||||||||||||||||||||
Net (Loss) Income from Investment Management Attributable to W. P. Carey | $ | (4,153) | $ | 33,178 | $ | (37,331) | $ | 33,178 | $ | 104,330 | $ | (71,152) |
Years Ended December 31, | |||||||||||||||||||||||
2019 | 2018 | Change | 2018 | 2017 | Change | ||||||||||||||||||
Revenues | |||||||||||||||||||||||
Asset management revenue | |||||||||||||||||||||||
CPA:17 – Global | $ | — | $ | 24,884 | $ | (24,884 | ) | $ | 24,884 | $ | 29,363 | $ | (4,479 | ) | |||||||||
CPA:18 – Global | 11,539 | 12,087 | (548 | ) | 12,087 | 11,293 | 794 | ||||||||||||||||
CWI 1 | 14,052 | 14,136 | (84 | ) | 14,136 | 14,499 | (363 | ) | |||||||||||||||
CWI 2 | 10,734 | 10,400 | 334 | 10,400 | 8,669 | 1,731 | |||||||||||||||||
CCIF | — | — | — | — | 5,229 | (5,229 | ) | ||||||||||||||||
CESH | 2,807 | 2,049 | 758 | 2,049 | 1,072 | 977 | |||||||||||||||||
39,132 | 63,556 | (24,424 | ) | 63,556 | 70,125 | (6,569 | ) | ||||||||||||||||
Reimbursable costs from affiliates | |||||||||||||||||||||||
CPA:17 – Global | — | 6,233 | (6,233 | ) | 6,233 | 9,775 | (3,542 | ) | |||||||||||||||
CPA:18 – Global | 3,934 | 4,207 | (273 | ) | 4,207 | 4,055 | 152 | ||||||||||||||||
CWI 1 | 6,936 | 6,653 | 283 | 6,653 | 6,039 | 614 | |||||||||||||||||
CWI 2 | 4,364 | 4,171 | 193 | 4,171 | 22,331 | (18,160 | ) | ||||||||||||||||
CCIF | — | — | — | — | 6,591 | (6,591 | ) | ||||||||||||||||
CESH | 1,313 | 661 | 652 | 661 | 2,654 | (1,993 | ) | ||||||||||||||||
16,547 | 21,925 | (5,378 | ) | 21,925 | 51,445 | (29,520 | ) | ||||||||||||||||
Structuring and other advisory revenue | |||||||||||||||||||||||
CPA:17 – Global | — | 1,184 | (1,184 | ) | 1,184 | 9,103 | (7,919 | ) | |||||||||||||||
CPA:18 – Global | 2,322 | 18,900 | (16,578 | ) | 18,900 | 3,999 | 14,901 | ||||||||||||||||
CWI 1 | 1,365 | 953 | 412 | 953 | 4,976 | (4,023 | ) | ||||||||||||||||
CWI 2 | 225 | 245 | (20 | ) | 245 | 10,889 | (10,644 | ) | |||||||||||||||
CESH | 312 | (156 | ) | 468 | (156 | ) | 6,127 | (6,283 | ) | ||||||||||||||
4,224 | 21,126 | (16,902 | ) | 21,126 | 35,094 | (13,968 | ) | ||||||||||||||||
Dealer manager fees | — | — | — | — | 4,430 | (4,430 | ) | ||||||||||||||||
59,903 | 106,607 | (46,704 | ) | 106,607 | 161,094 | (54,487 | ) | ||||||||||||||||
Operating Expenses | |||||||||||||||||||||||
General and administrative | 18,497 | 21,127 | (2,630 | ) | 21,127 | 31,889 | (10,762 | ) | |||||||||||||||
Reimbursable costs from affiliates | 16,547 | 21,925 | (5,378 | ) | 21,925 | 51,445 | (29,520 | ) | |||||||||||||||
Subadvisor fees | 7,579 | 9,240 | (1,661 | ) | 9,240 | 13,600 | (4,360 | ) | |||||||||||||||
Stock-based compensation expense | 5,539 | 7,844 | (2,305 | ) | 7,844 | 11,957 | (4,113 | ) | |||||||||||||||
Depreciation and amortization | 3,835 | 3,979 | (144 | ) | 3,979 | 3,902 | 77 | ||||||||||||||||
Restructuring and other compensation | — | — | — | — | 9,363 | (9,363 | ) | ||||||||||||||||
Dealer manager fees and expenses | — | — | — | — | 6,544 | (6,544 | ) | ||||||||||||||||
51,997 | 64,115 | (12,118 | ) | 64,115 | 128,700 | (64,585 | ) | ||||||||||||||||
Other Income and Expenses | |||||||||||||||||||||||
Equity in earnings of equity method investments in the Managed Programs | 20,868 | 48,173 | (27,305 | ) | 48,173 | 51,682 | (3,509 | ) | |||||||||||||||
Other gains and (losses) | 1,224 | (102 | ) | 1,326 | (102 | ) | 2,042 | (2,144 | ) | ||||||||||||||
Gain on change in control of interests | — | 29,022 | (29,022 | ) | 29,022 | — | 29,022 | ||||||||||||||||
22,092 | 77,093 | (55,001 | ) | 77,093 | 53,724 | 23,369 | |||||||||||||||||
Income before income taxes | 29,998 | 119,585 | (89,587 | ) | 119,585 | 86,118 | 33,467 | ||||||||||||||||
Benefit from (provision for) income taxes | 4,591 | (15,255 | ) | 19,846 | (15,255 | ) | (968 | ) | (14,287 | ) | |||||||||||||
Net Income from Investment Management | 34,589 | 104,330 | (69,741 | ) | 104,330 | 85,150 | 19,180 | ||||||||||||||||
Net income attributable to noncontrolling interests | (1,411 | ) | — | (1,411 | ) | — | — | — | |||||||||||||||
Net Income from Investment Management Attributable to W. P. Carey | $ | 33,178 | $ | 104,330 | $ | (71,152 | ) | $ | 104,330 | $ | 85,150 | $ | 19,180 |
W. P. Carey |
W. P. Carey |
Years Ended December 31, | |||||||||||
2019 | 2018 | 2017 | |||||||||
Equity in earnings of equity method investments in the Managed Programs: | |||||||||||
Equity in (losses) earnings of equity method investments in the Managed Programs (a) | $ | (621 | ) | $ | 1,564 | $ | 3,820 | ||||
Distributions of Available Cash: (b) | |||||||||||
CPA:17 – Global (a) | — | 26,308 | 26,675 | ||||||||
CPA:18 – Global | 8,132 | 9,692 | 8,650 | ||||||||
CWI 1 | 7,095 | 5,142 | 7,459 | ||||||||
CWI 2 | 6,262 | 5,467 | 5,078 | ||||||||
Equity in earnings of equity method investments in the Managed Programs | $ | 20,868 | $ | 48,173 | $ | 51,682 |
Years Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Equity in (losses) earnings of equity method investments in the Managed Programs: | |||||||||||||||||
Other-than-temporary impairment charges on our equity method investments in CWI 1 and CWI 2 (a) | $ | (47,112) | $ | — | $ | — | |||||||||||
Gain on redemption of special general partner interests in CWI 1 and CWI 2, net (b) | 33,009 | — | — | ||||||||||||||
Equity in (losses) earnings of equity method investments in the Managed Programs (c) | (2,662) | (621) | 1,564 | ||||||||||||||
Distributions of Available Cash: (d) | |||||||||||||||||
CPA:17 – Global (e) | — | — | 26,308 | ||||||||||||||
CPA:18 – Global | 7,225 | 8,132 | 9,692 | ||||||||||||||
CWI 1 | — | 7,095 | 5,142 | ||||||||||||||
CWI 2 | — | 6,262 | 5,467 | ||||||||||||||
Equity in (losses) earnings of equity method investments in the Managed Programs | $ | (9,540) | $ | 20,868 | $ | 48,173 |
W. P. Carey 2020 10-K– 39 |
W. P. Carey |
December 31, | December 31, | |||||||||||||||||
2019 | 2018 | 2020 | 2019 | |||||||||||||||
Carrying Value | Carrying Value | |||||||||||||||||
Fixed rate: | Fixed rate: | |||||||||||||||||
Senior Unsecured Notes (a) | $ | 4,390,189 | $ | 3,554,470 | Senior Unsecured Notes (a) | $ | 5,146,192 | $ | 4,390,189 | |||||||||
Non-recourse mortgages (a) | 1,232,898 | 1,795,460 | Non-recourse mortgages (a) | 920,378 | 1,232,898 | |||||||||||||
5,623,087 | 5,349,930 | 6,066,570 | 5,623,087 | |||||||||||||||
Variable rate: | Variable rate: | |||||||||||||||||
Unsecured Term Loans (a) | Unsecured Term Loans (a) | 321,971 | — | |||||||||||||||
Unsecured Revolving Credit Facility | 201,267 | 91,563 | Unsecured Revolving Credit Facility | 82,281 | 201,267 | |||||||||||||
Non-recourse mortgages (a): | Non-recourse mortgages (a): | |||||||||||||||||
Amount subject to interest rate swaps and caps | 157,518 | 561,959 | Amount subject to interest rate swaps and caps | 147,094 | 157,518 | |||||||||||||
Floating interest rate mortgage loans | 72,071 | 375,239 | Floating interest rate mortgage loans | 78,082 | 72,071 | |||||||||||||
430,856 | 1,028,761 | 629,428 | 430,856 | |||||||||||||||
$ | 6,053,943 | $ | 6,378,691 | $ | 6,695,998 | $ | 6,053,943 | |||||||||||
Percent of Total Debt | Percent of Total Debt | |||||||||||||||||
Fixed rate | 93 | % | 84 | % | Fixed rate | 91 | % | 93 | % | |||||||||
Variable rate | 7 | % | 16 | % | Variable rate | 9 | % | 7 | % | |||||||||
100 | % | 100 | % | 100 | % | 100 | % | |||||||||||
Weighted-Average Interest Rate at End of Year | Weighted-Average Interest Rate at End of Year | |||||||||||||||||
Fixed rate | 3.3 | % | 3.7 | % | Fixed rate | 3.0 | % | 3.3 | % | |||||||||
Variable rate (b) | 2.1 | % | 3.4 | % | Variable rate (b) | 1.6 | % | 2.1 | % | |||||||||
Total debt | 3.2 | % | 3.6 | % | Total debt | 2.9 | % | 3.2 | % |
W. P. Carey 2020 10-K– 41 |
Total | Less than 1 year | 1-3 years | 3-5 years | More than 5 years | Total | Less than 1 year | 1-3 years | 3-5 years | More than 5 years | |||||||||||||||||||||||||||||||||||||||
Senior Unsecured Notes — principal (a) (b) | $ | 4,433,500 | $ | — | $ | — | $ | 1,623,400 | $ | 2,810,100 | Senior Unsecured Notes — principal (a) (b) | $ | 5,192,749 | $ | — | $ | 613,550 | $ | 1,563,550 | $ | 3,015,649 | |||||||||||||||||||||||||||
Non-recourse mortgages — principal (a) | 1,469,250 | 164,682 | 704,587 | 460,895 | 139,086 | Non-recourse mortgages — principal (a) | 1,150,424 | 90,624 | 796,131 | 222,228 | 41,441 | |||||||||||||||||||||||||||||||||||||
Senior Unsecured Credit Facility — principal (c) | 201,267 | — | 201,267 | — | — | Senior Unsecured Credit Facility — principal (c) | 405,433 | — | — | 405,433 | — | |||||||||||||||||||||||||||||||||||||
Interest on borrowings (d) | 935,444 | 193,812 | 343,555 | 233,263 | 164,814 | Interest on borrowings (d) | 895,821 | 194,938 | 339,668 | 201,617 | 159,598 | |||||||||||||||||||||||||||||||||||||
Capital commitments and tenant expansion allowances (e) | 367,001 | 271,876 | 85,607 | 3,000 | 6,518 | Capital commitments and tenant expansion allowances (e) | 124,240 | 96,713 | 19,509 | 3,000 | 5,018 | |||||||||||||||||||||||||||||||||||||
Lease commitments (f) | 96,147 | — | 10,469 | 11,965 | 73,713 | |||||||||||||||||||||||||||||||||||||||||||
$ | 7,502,609 | $ | 630,370 | $ | 1,345,485 | $ | 2,332,523 | $ | 3,194,231 | $ | 7,768,667 | $ | 382,275 | $ | 1,768,858 | $ | 2,395,828 | $ | 3,221,706 |
(a)Excludes unamortized deferred financing costs totaling $24.3 million, the unamortized discount on the Senior Unsecured Notes of $22.5 million in aggregate, and the aggregate unamortized fair market value discount of $4.5 million, primarily resulting from the assumption of property-level debt in connection with business combinations, including the CPA:17 Merger (Note 3). |
W. P. Carey |
W. P. Carey 2020 10-K– 43 |
W. P. Carey |
Years Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Net income attributable to W. P. Carey | $ | 455,359 | $ | 305,243 | $ | 411,566 | |||||||||||
Adjustments: | |||||||||||||||||
Depreciation and amortization of real property | 437,885 | 442,096 | 286,164 | ||||||||||||||
Gain on sale of real estate, net | (109,370) | (18,143) | (118,605) | ||||||||||||||
Impairment charges | 35,830 | 32,539 | 4,790 | ||||||||||||||
Loss (gain) on change in control of interests (a) | — | 8,416 | (47,814) | ||||||||||||||
Proportionate share of adjustments to equity in net income of partially owned entities (b) (c) (d) (e) | 46,679 | 15,826 | 4,728 | ||||||||||||||
Proportionate share of adjustments for noncontrolling interests (f) | (18) | (69) | (8,966) | ||||||||||||||
Total adjustments | 411,006 | 480,665 | 120,297 | ||||||||||||||
FFO (as defined by NAREIT) attributable to W. P. Carey | 866,365 | 785,908 | 531,863 | ||||||||||||||
Adjustments: | |||||||||||||||||
Tax (benefit) expense — deferred and other (g) (h) (i) (j) | (48,835) | 5,974 | 1,079 | ||||||||||||||
Above- and below-market rent intangible lease amortization, net | 48,712 | 64,383 | 52,314 | ||||||||||||||
Straight-line and other rent adjustments (k) | (41,498) | (31,787) | (14,460) | ||||||||||||||
Other (gains) and losses (l) | (37,165) | (8,924) | (15,704) | ||||||||||||||
Stock-based compensation | 15,938 | 18,787 | 18,294 | ||||||||||||||
Amortization of deferred financing costs | 12,223 | 11,714 | 6,184 | ||||||||||||||
Other amortization and non-cash items | 1,864 | 3,198 | 920 | ||||||||||||||
Merger and other expenses | 247 | 101 | 41,426 | ||||||||||||||
Proportionate share of adjustments to equity in net income of partially owned entities (e) (m) | 10,821 | 7,165 | 12,439 | ||||||||||||||
Proportionate share of adjustments for noncontrolling interests (f) | 414 | (49) | 231 | ||||||||||||||
Total adjustments | (37,279) | 70,562 | 102,723 | ||||||||||||||
AFFO attributable to W. P. Carey | $ | 829,086 | $ | 856,470 | $ | 634,586 | |||||||||||
Summary | |||||||||||||||||
FFO (as defined by NAREIT) attributable to W. P. Carey | $ | 866,365 | $ | 785,908 | $ | 531,863 | |||||||||||
AFFO attributable to W. P. Carey | $ | 829,086 | $ | 856,470 | $ | 634,586 |
Years Ended December 31, | |||||||||||
2019 | 2018 | 2017 | |||||||||
Net income attributable to W. P. Carey | $ | 305,243 | $ | 411,566 | $ | 277,289 | |||||
Adjustments: | |||||||||||
Depreciation and amortization of real property | 442,096 | 286,164 | 248,042 | ||||||||
Impairment charges | 32,539 | 4,790 | 2,769 | ||||||||
Gain on sale of real estate, net | (18,143 | ) | (118,605 | ) | (33,878 | ) | |||||
Loss (gain) on change in control of interests (a) (b) | 8,416 | (47,814 | ) | — | |||||||
Proportionate share of adjustments to equity in net income of partially owned entities (c) | 15,826 | 4,728 | 5,293 | ||||||||
Proportionate share of adjustments for noncontrolling interests (d) | (69 | ) | (8,966 | ) | (10,491 | ) | |||||
Total adjustments | 480,665 | 120,297 | 211,735 | ||||||||
FFO (as defined by NAREIT) attributable to W. P. Carey | 785,908 | 531,863 | 489,024 | ||||||||
Adjustments: | |||||||||||
Above- and below-market rent intangible lease amortization, net | 64,383 | 52,314 | 55,195 | ||||||||
Straight-line and other rent adjustments (e) | (31,787 | ) | (14,460 | ) | (11,679 | ) | |||||
Stock-based compensation | 18,787 | 18,294 | 18,917 | ||||||||
Amortization of deferred financing costs | 11,714 | 6,184 | 8,169 | ||||||||
Other (gains) and losses (f) | (8,924 | ) | (15,704 | ) | 17,163 | ||||||
Tax expense (benefit) — deferred and other (g) (h) | 5,974 | 1,079 | (18,664 | ) | |||||||
Other amortization and non-cash items | 3,198 | 920 | (912 | ) | |||||||
Merger and other expenses (i) | 101 | 41,426 | 605 | ||||||||
Restructuring and other compensation | — | — | 9,363 | ||||||||
Proportionate share of adjustments to equity in net income of partially owned entities (c) | 7,165 | 12,439 | 8,476 | ||||||||
Proportionate share of adjustments for noncontrolling interests (d) | (49 | ) | 231 | (2,678 | ) | ||||||
Total adjustments | 70,562 | 102,723 | 83,955 | ||||||||
AFFO attributable to W. P. Carey | $ | 856,470 | $ | 634,586 | $ | 572,979 | |||||
Summary | |||||||||||
FFO (as defined by NAREIT) attributable to W. P. Carey | $ | 785,908 | $ | 531,863 | $ | 489,024 | |||||
AFFO attributable to W. P. Carey | $ | 856,470 | $ | 634,586 | $ | 572,979 |
W. P. Carey |
Years Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Net income from Real Estate attributable to W. P. Carey | $ | 459,512 | $ | 272,065 | $ | 307,236 | |||||||||||
Adjustments: | |||||||||||||||||
Depreciation and amortization of real property | 437,885 | 442,096 | 286,164 | ||||||||||||||
Gain on sale of real estate, net | (109,370) | (18,143) | (118,605) | ||||||||||||||
Impairment charges | 35,830 | 32,539 | 4,790 | ||||||||||||||
Loss (gain) on change in control of interests (a) | — | 8,416 | (18,792) | ||||||||||||||
Proportionate share of adjustments to equity in net income of partially owned entities (d) (e) | 22,036 | 15,826 | 4,728 | ||||||||||||||
Proportionate share of adjustments for noncontrolling interests (f) | (18) | (69) | (8,966) | ||||||||||||||
Total adjustments | 386,363 | 480,665 | 149,319 | ||||||||||||||
FFO (as defined by NAREIT) attributable to W. P. Carey — Real Estate | 845,875 | 752,730 | 456,555 | ||||||||||||||
Adjustments: | |||||||||||||||||
Above- and below-market rent intangible lease amortization, net | 48,712 | 64,383 | 52,314 | ||||||||||||||
Tax (benefit) expense — deferred and other (h) | (45,511) | 7,971 | (18,790) | ||||||||||||||
Straight-line and other rent adjustments (k) | (41,498) | (31,787) | (14,460) | ||||||||||||||
Other (gains) and losses (l) | (37,104) | (9,773) | (18,025) | ||||||||||||||
Stock-based compensation | 15,247 | 13,248 | 10,450 | ||||||||||||||
Amortization of deferred financing costs | 12,223 | 11,714 | 6,184 | ||||||||||||||
Other amortization and non-cash items | 1,665 | 2,540 | 330 | ||||||||||||||
Merger and other expenses | (937) | 101 | 41,426 | ||||||||||||||
Proportionate share of adjustments to equity in net income of partially owned entities (e) (m) | 5,089 | 115 | 287 | ||||||||||||||
Proportionate share of adjustments for noncontrolling interests (f) | 414 | (49) | 231 | ||||||||||||||
Total adjustments | (41,700) | 58,463 | 59,947 | ||||||||||||||
AFFO attributable to W. P. Carey — Real Estate | $ | 804,175 | $ | 811,193 | $ | 516,502 | |||||||||||
Summary | |||||||||||||||||
FFO (as defined by NAREIT) attributable to W. P. Carey — Real Estate | $ | 845,875 | $ | 752,730 | $ | 456,555 | |||||||||||
AFFO attributable to W. P. Carey — Real Estate | $ | 804,175 | $ | 811,193 | $ | 516,502 |
Years Ended December 31, | |||||||||||
2019 | 2018 | 2017 | |||||||||
Net income from Real Estate attributable to W. P. Carey | $ | 272,065 | $ | 307,236 | $ | 192,139 | |||||
Adjustments: | |||||||||||
Depreciation and amortization of real property | 442,096 | 286,164 | 248,042 | ||||||||
Impairment charges | 32,539 | 4,790 | 2,769 | ||||||||
Gain on sale of real estate, net | (18,143 | ) | (118,605 | ) | (33,878 | ) | |||||
Loss (gain) on change in control of interests (a) | 8,416 | (18,792 | ) | — | |||||||
Proportionate share of adjustments to equity in net income of partially owned entities (c) | 15,826 | 4,728 | 5,293 | ||||||||
Proportionate share of adjustments for noncontrolling interests (d) | (69 | ) | (8,966 | ) | (10,491 | ) | |||||
Total adjustments | 480,665 | 149,319 | 211,735 | ||||||||
FFO (as defined by NAREIT) attributable to W. P. Carey — Real Estate | 752,730 | 456,555 | 403,874 | ||||||||
Adjustments: | |||||||||||
Above- and below-market rent intangible lease amortization, net | 64,383 | 52,314 | 55,195 | ||||||||
Straight-line and other rent adjustments (e) | (31,787 | ) | (14,460 | ) | (11,679 | ) | |||||
Stock-based compensation | 13,248 | 10,450 | 6,960 | ||||||||
Amortization of deferred financing costs | 11,714 | 6,184 | 8,169 | ||||||||
Other (gains) and losses (f) | (9,773 | ) | (18,025 | ) | 18,063 | ||||||
Tax expense (benefit) — deferred and other | 7,971 | (18,790 | ) | (20,168 | ) | ||||||
Other amortization and non-cash items | 2,540 | 330 | (912 | ) | |||||||
Merger and other expenses (i) | 101 | 41,426 | 605 | ||||||||
Proportionate share of adjustments to equity in net income of partially owned entities (c) | 115 | 287 | (564 | ) | |||||||
Proportionate share of adjustments for noncontrolling interests (d) | (49 | ) | 231 | (2,678 | ) | ||||||
Total adjustments | 58,463 | 59,947 | 52,991 | ||||||||
AFFO attributable to W. P. Carey — Real Estate | $ | 811,193 | $ | 516,502 | $ | 456,865 | |||||
Summary | |||||||||||
FFO (as defined by NAREIT) attributable to W. P. Carey — Real Estate | $ | 752,730 | $ | 456,555 | $ | 403,874 | |||||
AFFO attributable to W. P. Carey — Real Estate | $ | 811,193 | $ | 516,502 | $ | 456,865 |
W. P. Carey |
Years Ended December 31, | ||||||||||||||||||||||||||||
Years Ended December 31, | 2020 | 2019 | 2018 | |||||||||||||||||||||||||
2019 | 2018 | 2017 | ||||||||||||||||||||||||||
Net income from Investment Management attributable to W. P. Carey | $ | 33,178 | $ | 104,330 | $ | 85,150 | ||||||||||||||||||||||
Net (loss) income from Investment Management attributable to W. P. Carey | Net (loss) income from Investment Management attributable to W. P. Carey | $ | (4,153) | $ | 33,178 | $ | 104,330 | |||||||||||||||||||||
Adjustments: | Adjustments: | |||||||||||||||||||||||||||
Gain on change in control of interests (b) | — | (29,022 | ) | — | ||||||||||||||||||||||||
Gain on change in control of interests | Gain on change in control of interests | — | — | (29,022) | ||||||||||||||||||||||||
Proportionate share of adjustments to equity in net income of partially owned entities (b) (c) (e) | Proportionate share of adjustments to equity in net income of partially owned entities (b) (c) (e) | 24,643 | — | — | ||||||||||||||||||||||||
Total adjustments | — | (29,022 | ) | — | Total adjustments | 24,643 | — | (29,022) | ||||||||||||||||||||
FFO (as defined by NAREIT) attributable to W. P. Carey — Investment Management | 33,178 | 75,308 | 85,150 | FFO (as defined by NAREIT) attributable to W. P. Carey — Investment Management | 20,490 | 33,178 | 75,308 | |||||||||||||||||||||
Adjustments: | Adjustments: | |||||||||||||||||||||||||||
Tax (benefit) expense — deferred and other (g) (i) (j) | Tax (benefit) expense — deferred and other (g) (i) (j) | (3,324) | (1,997) | 19,869 | ||||||||||||||||||||||||
Merger and other expenses | Merger and other expenses | 1,184 | — | — | ||||||||||||||||||||||||
Stock-based compensation | 5,539 | 7,844 | 11,957 | Stock-based compensation | 691 | 5,539 | 7,844 | |||||||||||||||||||||
Tax (benefit) expense — deferred and other (g) (h) | (1,997 | ) | 19,869 | 1,504 | ||||||||||||||||||||||||
Other (gains) and losses (f) | 849 | 2,321 | (900 | ) | ||||||||||||||||||||||||
Other amortization and non-cash items | 658 | 590 | — | Other amortization and non-cash items | 199 | 658 | 590 | |||||||||||||||||||||
Restructuring and other compensation | — | — | 9,363 | |||||||||||||||||||||||||
Proportionate share of adjustments to equity in net income of partially owned entities (c) | 7,050 | 12,152 | 9,040 | |||||||||||||||||||||||||
Other (gains) and losses (l) | Other (gains) and losses (l) | (61) | 849 | 2,321 | ||||||||||||||||||||||||
Proportionate share of adjustments to equity in net income of partially owned entities (e) (m) | Proportionate share of adjustments to equity in net income of partially owned entities (e) (m) | 5,732 | 7,050 | 12,152 | ||||||||||||||||||||||||
Total adjustments | 12,099 | 42,776 | 30,964 | Total adjustments | 4,421 | 12,099 | 42,776 | |||||||||||||||||||||
AFFO attributable to W. P. Carey — Investment Management | $ | 45,277 | $ | 118,084 | $ | 116,114 | AFFO attributable to W. P. Carey — Investment Management | $ | 24,911 | $ | 45,277 | $ | 118,084 | |||||||||||||||
Summary | Summary | |||||||||||||||||||||||||||
FFO (as defined by NAREIT) attributable to W. P. Carey — Investment Management | $ | 33,178 | $ | 75,308 | $ | 85,150 | FFO (as defined by NAREIT) attributable to W. P. Carey — Investment Management | $ | 20,490 | $ | 33,178 | $ | 75,308 | |||||||||||||||
AFFO attributable to W. P. Carey — Investment Management | $ | 45,277 | $ | 118,084 | $ | 116,114 | AFFO attributable to W. P. Carey — Investment Management | $ | 24,911 | $ | 45,277 | $ | 118,084 |
(a)Amount for the year ended December 31, 2019 represents a loss recognized on the purchase of the remaining interest in a real estate investment from CPA:17 – Global in the CPA:17 Merger, which we had previously accounted for under the equity method. We recognized this loss because we identified certain measurement period adjustments during the third quarter of 2019 that impacted the provisional accounting for this investment (Note 3, Note 6). (b)Amount for the year ended December 31, 2020 includes a non-cash net gain of $33.0 million (inclusive of $9.9 million attributable to the redemption of a noncontrolling interest that the former subadvisors for CWI 1 and CWI 2 held in the special general partner interests) recognized in connection with consideration received at closing of the CWI 1 and CWI 2 Merger (Note 4, Note 7). (c)Amount for the year ended December 31, 2020 includes non-cash other-than-temporary impairment charges totaling $47.1 million recognized on our equity investments in CWI 1 and CWI 2 (Note 9). (d)Amount for the year ended December 31, 2020 includes a non-cash other-than-temporary impairment charge of $8.3 million recognized on an equity method investment in real estate (Note 8, Note 9). (e)Equity income, including amounts that are not typically recognized for FFO and AFFO, is recognized within Equity in (losses) earnings of equity method investments in the Managed Programs and real estate on the consolidated statements of income. This represents adjustments to equity income to reflect FFO and AFFO on a pro rata basis. (f)Adjustments disclosed elsewhere in this reconciliation are on a consolidated basis. This adjustment reflects our FFO or AFFO on a pro rata basis. (g)Amount for the year ended December 31, 2020 includes one-time taxes incurred upon the recognition of taxable income associated with the accelerated vesting of shares previously issued by CWI 1 and CWI 2 to us for asset management services performed, in connection with the CWI 1 and CWI 2 Merger. (h)Amount for the year ended December 31, 2020 includes a non-cash deferred tax benefit of $37.2 million as a result of the release of a deferred tax liability relating to our investment in shares of Lineage Logistics, which converted to a REIT during the current year and is therefore no longer subject to federal and state income taxes (Note 15). In addition, amount for the year ended December 31, 2019 includes deferred tax expenses totaling approximately $8.6 million as a result of the increase in the fair value of our investment in shares of Lineage Logistics (Note 9). (i)Amount for the year ended December 31, 2020 includes a one-time tax benefit of $4.7 million as a result of carrying back certain net operating losses in accordance with the CARES Act, which was enacted on March 27, 2020 (Note 15 |
W. P. Carey |
W. P. Carey |
2020 | 2021 | 2022 | 2023 | 2024 | Thereafter | Total | Fair value | 2021 | 2022 | 2023 | 2024 | 2025 | Thereafter | Total | Fair value | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fixed-rate debt (a) (b) | $ | 152,812 | $ | 213,087 | $ | 406,785 | $ | 801,170 | $ | 1,148,989 | $ | 2,949,186 | $ | 5,672,029 | $ | 5,941,459 | Fixed-rate debt (a) (b) | $ | 63,318 | $ | 393,476 | $ | 853,898 | $ | 1,199,068 | $ | 550,334 | $ | 3,057,090 | $ | 6,117,184 | $ | 6,566,571 | |||||||||||||||||||||||||||||||||||||||||||||
Variable-rate debt (a) | $ | 11,870 | $ | 232,382 | $ | 53,600 | $ | 99,118 | $ | 35,018 | $ | — | $ | 431,988 | $ | 430,132 | Variable-rate debt (a) | $ | 27,306 | $ | 54,099 | $ | 108,208 | $ | 36,376 | $ | 405,433 | $ | — | $ | 631,422 | $ | 625,818 |
Lease Revenues (a) | 2020 | 2021 | 2022 | 2023 | 2024 | Thereafter | Total | |||||||||||||||||||||
Euro (b) | $ | 302,124 | $ | 299,176 | $ | 289,400 | $ | 287,769 | $ | 268,269 | $ | 1,757,899 | $ | 3,204,637 | ||||||||||||||
British pound sterling (c) | 42,332 | 43,057 | 43,194 | 43,612 | 44,011 | 268,970 | 485,176 | |||||||||||||||||||||
Japanese yen (d) | 2,816 | 2,809 | 677 | — | — | — | 6,302 | |||||||||||||||||||||
Other foreign currencies (e) | 25,583 | 25,933 | 25,860 | 26,286 | 26,569 | 278,207 | 408,438 | |||||||||||||||||||||
$ | 372,855 | $ | 370,975 | $ | 359,131 | $ | 357,667 | $ | 338,849 | $ | 2,305,076 | $ | 4,104,553 |
Debt Service (a) (f) | 2020 | 2021 | 2022 | 2023 | 2024 | Thereafter | Total | |||||||||||||||||||||
Euro (b) | $ | 132,907 | $ | 204,384 | $ | 73,801 | $ | 754,706 | $ | 618,274 | $ | 1,780,284 | $ | 3,564,356 | ||||||||||||||
British pound sterling (c) | 2,098 | 65,717 | 829 | 829 | 829 | 8,949 | 79,251 | |||||||||||||||||||||
Japanese yen (d) | 224 | 22,327 | — | — | — | — | 22,551 | |||||||||||||||||||||
$ | 135,229 | $ | 292,428 | $ | 74,630 | $ | 755,535 | $ | 619,103 | $ | 1,789,233 | $ | 3,666,158 |
W. P. Carey |
TABLE OF CONTENTS | Page No. | ||||
W. P. Carey |
W. P. Carey |
W. P. Carey 2020 10-K– 53 |
W. P. Carey |
December 31, | December 31, | |||||||||||||||||
2019 | 2018 | 2020 | 2019 | |||||||||||||||
Assets | Assets | |||||||||||||||||
Investments in real estate: | Investments in real estate: | |||||||||||||||||
Land, buildings and improvements | $ | 9,856,191 | $ | 9,251,396 | Land, buildings and improvements | $ | 10,939,619 | $ | 9,856,191 | |||||||||
Net investments in direct financing leases | 896,549 | 1,306,215 | Net investments in direct financing leases | 711,974 | 896,549 | |||||||||||||
In-place lease intangible assets and other | 2,186,851 | 2,009,628 | In-place lease intangible assets and other | 2,301,174 | 2,186,851 | |||||||||||||
Above-market rent intangible assets | 909,139 | 925,797 | Above-market rent intangible assets | 881,159 | 909,139 | |||||||||||||
Investments in real estate | 13,848,730 | 13,493,036 | Investments in real estate | 14,833,926 | 13,848,730 | |||||||||||||
Accumulated depreciation and amortization | (2,035,995 | ) | (1,564,182 | ) | Accumulated depreciation and amortization | (2,490,087) | (2,035,995) | |||||||||||
Assets held for sale, net | 104,010 | — | Assets held for sale, net | 18,590 | 104,010 | |||||||||||||
Net investments in real estate | 11,916,745 | 11,928,854 | Net investments in real estate | 12,362,429 | 11,916,745 | |||||||||||||
Equity investments in the Managed Programs and real estate | 324,004 | 329,248 | Equity investments in the Managed Programs and real estate | 283,446 | 324,004 | |||||||||||||
Cash and cash equivalents | 196,028 | 217,644 | Cash and cash equivalents | 248,662 | 196,028 | |||||||||||||
Due from affiliates | 57,816 | 74,842 | Due from affiliates | 26,257 | 57,816 | |||||||||||||
Other assets, net | 631,637 | 711,507 | Other assets, net | 876,024 | 631,637 | |||||||||||||
Goodwill | 934,688 | 920,944 | Goodwill | 910,818 | 934,688 | |||||||||||||
Total assets (a) | $ | 14,060,918 | $ | 14,183,039 | Total assets (a) | $ | 14,707,636 | $ | 14,060,918 | |||||||||
Liabilities and Equity | Liabilities and Equity | |||||||||||||||||
Debt: | Debt: | |||||||||||||||||
Senior unsecured notes, net | $ | 4,390,189 | $ | 3,554,470 | Senior unsecured notes, net | $ | 5,146,192 | $ | 4,390,189 | |||||||||
Unsecured term loans, net | Unsecured term loans, net | 321,971 | 0 | |||||||||||||||
Unsecured revolving credit facility | 201,267 | 91,563 | Unsecured revolving credit facility | 82,281 | 201,267 | |||||||||||||
Non-recourse mortgages, net | 1,462,487 | 2,732,658 | Non-recourse mortgages, net | 1,145,554 | 1,462,487 | |||||||||||||
Debt, net | 6,053,943 | 6,378,691 | Debt, net | 6,695,998 | 6,053,943 | |||||||||||||
Accounts payable, accrued expenses and other liabilities | 487,405 | 403,896 | Accounts payable, accrued expenses and other liabilities | 603,663 | 487,405 | |||||||||||||
Below-market rent and other intangible liabilities, net | 210,742 | 225,128 | Below-market rent and other intangible liabilities, net | 197,248 | 210,742 | |||||||||||||
Deferred income taxes | 179,309 | 173,115 | Deferred income taxes | 145,844 | 179,309 | |||||||||||||
Dividends payable | 181,346 | 172,154 | Dividends payable | 186,514 | 181,346 | |||||||||||||
Total liabilities (a) | 7,112,745 | 7,352,984 | Total liabilities (a) | 7,829,267 | 7,112,745 | |||||||||||||
0 | 0 | |||||||||||||||||
Preferred stock, $0.001 par value, 50,000,000 shares authorized; none issued | — | — | ||||||||||||||||
Common stock, $0.001 par value, 450,000,000 shares authorized; 172,278,242 and 165,279,642 shares, respectively, issued and outstanding | 172 | 165 | ||||||||||||||||
Preferred stock, $0.001 par value, 50,000,000 shares authorized; NaN issued | Preferred stock, $0.001 par value, 50,000,000 shares authorized; NaN issued | 0 | 0 | |||||||||||||||
Common stock, $0.001 par value, 450,000,000 shares authorized; 175,401,757 and 172,278,242 shares, respectively, issued and outstanding | Common stock, $0.001 par value, 450,000,000 shares authorized; 175,401,757 and 172,278,242 shares, respectively, issued and outstanding | 175 | 172 | |||||||||||||||
Additional paid-in capital | 8,717,535 | 8,187,335 | Additional paid-in capital | 8,925,365 | 8,717,535 | |||||||||||||
Distributions in excess of accumulated earnings | (1,557,374 | ) | (1,143,992 | ) | Distributions in excess of accumulated earnings | (1,850,935) | (1,557,374) | |||||||||||
Deferred compensation obligation | 37,263 | 35,766 | Deferred compensation obligation | 42,014 | 37,263 | |||||||||||||
Accumulated other comprehensive loss | (255,667 | ) | (254,996 | ) | Accumulated other comprehensive loss | (239,906) | (255,667) | |||||||||||
Total stockholders’ equity | 6,941,929 | 6,824,278 | Total stockholders’ equity | 6,876,713 | 6,941,929 | |||||||||||||
Noncontrolling interests | 6,244 | 5,777 | Noncontrolling interests | 1,656 | 6,244 | |||||||||||||
Total equity | 6,948,173 | 6,830,055 | Total equity | 6,878,369 | 6,948,173 | |||||||||||||
Total liabilities and equity | $ | 14,060,918 | $ | 14,183,039 | Total liabilities and equity | $ | 14,707,636 | $ | 14,060,918 |
W. P. Carey |
Years Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Revenues | |||||||||||||||||
Real Estate: | |||||||||||||||||
Lease revenues | $ | 1,154,504 | $ | 1,086,375 | $ | 744,498 | |||||||||||
Lease termination income and other | 12,094 | 36,268 | 6,555 | ||||||||||||||
Operating property revenues | 11,399 | 50,220 | 28,072 | ||||||||||||||
1,177,997 | 1,172,863 | 779,125 | |||||||||||||||
Investment Management: | |||||||||||||||||
Asset management revenue | 21,973 | 39,132 | 63,556 | ||||||||||||||
Reimbursable costs from affiliates | 8,855 | 16,547 | 21,925 | ||||||||||||||
Structuring and other advisory revenue | 494 | 4,224 | 21,126 | ||||||||||||||
31,322 | 59,903 | 106,607 | |||||||||||||||
1,209,319 | 1,232,766 | 885,732 | |||||||||||||||
Operating Expenses | |||||||||||||||||
Depreciation and amortization | 442,935 | 447,135 | 291,440 | ||||||||||||||
General and administrative | 75,950 | 75,293 | 68,337 | ||||||||||||||
Reimbursable tenant costs | 56,409 | 55,576 | 28,076 | ||||||||||||||
Property expenses, excluding reimbursable tenant costs | 44,067 | 39,545 | 22,773 | ||||||||||||||
Impairment charges | 35,830 | 32,539 | 4,790 | ||||||||||||||
Stock-based compensation expense | 15,938 | 18,787 | 18,294 | ||||||||||||||
Operating property expenses | 9,901 | 38,015 | 20,150 | ||||||||||||||
Reimbursable costs from affiliates | 8,855 | 16,547 | 21,925 | ||||||||||||||
Subadvisor fees | 1,469 | 7,579 | 9,240 | ||||||||||||||
Merger and other expenses | 247 | 101 | 41,426 | ||||||||||||||
691,601 | 731,117 | 526,451 | |||||||||||||||
Other Income and Expenses | |||||||||||||||||
Interest expense | (210,087) | (233,325) | (178,375) | ||||||||||||||
Gain on sale of real estate, net | 109,370 | 18,143 | 118,605 | ||||||||||||||
Other gains and (losses) | 46,752 | 31,475 | 29,913 | ||||||||||||||
Equity in (losses) earnings of equity method investments in the Managed Programs and real estate | (18,557) | 23,229 | 61,514 | ||||||||||||||
(Loss) gain on change in control of interests | 0 | (8,416) | 47,814 | ||||||||||||||
(72,522) | (168,894) | 79,471 | |||||||||||||||
Income before income taxes | 445,196 | 332,755 | 438,752 | ||||||||||||||
Benefit from (provision for) income taxes | 20,759 | (26,211) | (14,411) | ||||||||||||||
Net Income | 465,955 | 306,544 | 424,341 | ||||||||||||||
Net income attributable to noncontrolling interests | (10,596) | (1,301) | (12,775) | ||||||||||||||
Net Income Attributable to W. P. Carey | $ | 455,359 | $ | 305,243 | $ | 411,566 | |||||||||||
Basic Earnings Per Share | $ | 2.61 | $ | 1.78 | $ | 3.50 | |||||||||||
Diluted Earnings Per Share | $ | 2.60 | $ | 1.78 | $ | 3.49 | |||||||||||
Weighted-Average Shares Outstanding | |||||||||||||||||
Basic | 174,504,406 | 171,001,430 | 117,494,969 | ||||||||||||||
Diluted | 174,839,428 | 171,299,414 | 117,706,445 |
Years Ended December 31, | |||||||||||
2019 | 2018 | 2017 | |||||||||
Revenues | |||||||||||
Real Estate: | |||||||||||
Lease revenues | $ | 1,086,375 | $ | 744,498 | $ | 651,897 | |||||
Operating property revenues | 50,220 | 28,072 | 30,562 | ||||||||
Lease termination income and other | 36,268 | 6,555 | 4,749 | ||||||||
1,172,863 | 779,125 | 687,208 | |||||||||
Investment Management: | |||||||||||
Asset management revenue | 39,132 | 63,556 | 70,125 | ||||||||
Reimbursable costs from affiliates | 16,547 | 21,925 | 51,445 | ||||||||
Structuring and other advisory revenue | 4,224 | 21,126 | 35,094 | ||||||||
Dealer manager fees | — | — | 4,430 | ||||||||
59,903 | 106,607 | 161,094 | |||||||||
1,232,766 | 885,732 | 848,302 | |||||||||
Operating Expenses | |||||||||||
Depreciation and amortization | 447,135 | 291,440 | 253,334 | ||||||||
General and administrative | 75,293 | 68,337 | 70,891 | ||||||||
Reimbursable tenant costs | 55,576 | 28,076 | 21,524 | ||||||||
Property expenses, excluding reimbursable tenant costs | 39,545 | 22,773 | 17,330 | ||||||||
Operating property expenses | 38,015 | 20,150 | 23,426 | ||||||||
Impairment charges | 32,539 | 4,790 | 2,769 | ||||||||
Stock-based compensation expense | 18,787 | 18,294 | 18,917 | ||||||||
Reimbursable costs from affiliates | 16,547 | 21,925 | 51,445 | ||||||||
Subadvisor fees | 7,579 | 9,240 | 13,600 | ||||||||
Merger and other expenses | 101 | 41,426 | 605 | ||||||||
Restructuring and other compensation | — | — | 9,363 | ||||||||
Dealer manager fees and expenses | — | — | 6,544 | ||||||||
731,117 | 526,451 | 489,748 | |||||||||
Other Income and Expenses | |||||||||||
Interest expense | (233,325 | ) | (178,375 | ) | (165,775 | ) | |||||
Other gains and (losses) | 31,475 | 29,913 | (3,613 | ) | |||||||
Equity in earnings of equity method investments in the Managed Programs and real estate | 23,229 | 61,514 | 64,750 | ||||||||
Gain on sale of real estate, net | 18,143 | 118,605 | 33,878 | ||||||||
(Loss) gain on change in control of interests | (8,416 | ) | 47,814 | — | |||||||
(168,894 | ) | 79,471 | (70,760 | ) | |||||||
Income before income taxes | 332,755 | 438,752 | 287,794 | ||||||||
Provision for income taxes | (26,211 | ) | (14,411 | ) | (2,711 | ) | |||||
Net Income | 306,544 | 424,341 | 285,083 | ||||||||
Net income attributable to noncontrolling interests | (1,301 | ) | (12,775 | ) | (7,794 | ) | |||||
Net Income Attributable to W. P. Carey | $ | 305,243 | $ | 411,566 | $ | 277,289 | |||||
Basic Earnings Per Share | $ | 1.78 | $ | 3.50 | $ | 2.56 | |||||
Diluted Earnings Per Share | $ | 1.78 | $ | 3.49 | $ | 2.56 | |||||
Weighted-Average Shares Outstanding | |||||||||||
Basic | 171,001,430 | 117,494,969 | 107,824,738 | ||||||||
Diluted | 171,299,414 | 117,706,445 | 108,035,971 |
W. P. Carey |
Years Ended December 31, | Years Ended December 31, | |||||||||||||||||||||||||||
2019 | 2018 | 2017 | 2020 | 2019 | 2018 | |||||||||||||||||||||||
Net Income | $ | 306,544 | $ | 424,341 | $ | 285,083 | Net Income | $ | 465,955 | $ | 306,544 | $ | 424,341 | |||||||||||||||
Other Comprehensive (Loss) Income | ||||||||||||||||||||||||||||
Other Comprehensive Income (Loss) | Other Comprehensive Income (Loss) | |||||||||||||||||||||||||||
Foreign currency translation adjustments | Foreign currency translation adjustments | 47,746 | 376 | (31,843) | ||||||||||||||||||||||||
Unrealized (loss) gain on derivative instruments | (1,054 | ) | 4,923 | (37,778 | ) | Unrealized (loss) gain on derivative instruments | (31,978) | (1,054) | 4,923 | |||||||||||||||||||
Foreign currency translation adjustments | 376 | (31,843 | ) | 72,428 | ||||||||||||||||||||||||
Unrealized gain (loss) on investments | 7 | 154 | (71 | ) | ||||||||||||||||||||||||
Unrealized gain on investments | Unrealized gain on investments | 0 | 7 | 154 | ||||||||||||||||||||||||
(671 | ) | (26,766 | ) | 34,579 | 15,768 | (671) | (26,766) | |||||||||||||||||||||
Comprehensive Income | 305,873 | 397,575 | 319,662 | Comprehensive Income | 481,723 | 305,873 | 397,575 | |||||||||||||||||||||
Amounts Attributable to Noncontrolling Interests | Amounts Attributable to Noncontrolling Interests | |||||||||||||||||||||||||||
Net income | (1,301 | ) | (12,775 | ) | (7,794 | ) | Net income | (10,596) | (1,301) | (12,775) | ||||||||||||||||||
Unrealized (gain) loss on derivative instruments | Unrealized (gain) loss on derivative instruments | (7) | 0 | 7 | ||||||||||||||||||||||||
Foreign currency translation adjustments | — | 7,774 | (16,120 | ) | Foreign currency translation adjustments | 0 | 0 | 7,774 | ||||||||||||||||||||
Unrealized loss on derivative instruments | — | 7 | 15 | |||||||||||||||||||||||||
Comprehensive income attributable to noncontrolling interests | (1,301 | ) | (4,994 | ) | (23,899 | ) | Comprehensive income attributable to noncontrolling interests | (10,603) | (1,301) | (4,994) | ||||||||||||||||||
Comprehensive Income Attributable to W. P. Carey | $ | 304,572 | $ | 392,581 | $ | 295,763 | Comprehensive Income Attributable to W. P. Carey | $ | 471,120 | $ | 304,572 | $ | 392,581 |
W. P. Carey |
W. P. Carey Stockholders | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Distributions | Accumulated | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock | Additional | in Excess of | Deferred | Other | Total | ||||||||||||||||||||||||||||||||||||||||||||||||
$0.001 Par Value | Paid-in | Accumulated | Compensation | Comprehensive | W. P. Carey | Noncontrolling | |||||||||||||||||||||||||||||||||||||||||||||||
Shares | Amount | Capital | Earnings | Obligation | Loss | Stockholders | Interests | Total | |||||||||||||||||||||||||||||||||||||||||||||
Balance at January 1, 2020 | 172,278,242 | $ | 172 | $ | 8,717,535 | $ | (1,557,374) | $ | 37,263 | $ | (255,667) | $ | 6,941,929 | $ | 6,244 | $ | 6,948,173 | ||||||||||||||||||||||||||||||||||||
Cumulative-effect adjustment for the adoption of ASU 2016-13, Financial Instruments — Credit Losses (Note 2) | (14,812) | (14,812) | (14,812) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued under forward sale agreements, net | 2,951,791 | 3 | 199,478 | 199,481 | 199,481 | ||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued upon delivery of vested restricted share awards | 162,331 | — | (5,372) | (5,372) | (5,372) | ||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued upon purchases under employee share purchase plan | 6,893 | — | 389 | 389 | 389 | ||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued under “at-the-market” offering, net | 2,500 | — | 60 | 60 | 60 | ||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of stock-based compensation expense | 15,938 | 15,938 | 15,938 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Deferral of vested shares, net | (3,854) | 3,854 | — | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||
Distributions to noncontrolling interests | — | (5,326) | (5,326) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends declared ($4.17 per share) | 1,191 | (734,108) | 897 | (732,020) | (732,020) | ||||||||||||||||||||||||||||||||||||||||||||||||
— | (9,865) | (9,865) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Net income | 455,359 | 455,359 | 10,596 | 465,955 | |||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Foreign currency translation adjustments | 47,746 | 47,746 | 47,746 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Unrealized loss on derivative instruments | (31,985) | (31,985) | 7 | (31,978) | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at December 31, 2020 | 175,401,757 | $ | 175 | $ | 8,925,365 | $ | (1,850,935) | $ | 42,014 | $ | (239,906) | $ | 6,876,713 | $ | 1,656 | $ | 6,878,369 |
W. P. Carey Stockholders | ||||||||||||||||||||||||||||||||||
Distributions | Accumulated | |||||||||||||||||||||||||||||||||
Common Stock | Additional | in Excess of | Deferred | Other | Total | |||||||||||||||||||||||||||||
$0.001 Par Value | Paid-in | Accumulated | Compensation | Comprehensive | W. P. Carey | Noncontrolling | ||||||||||||||||||||||||||||
Shares | Amount | Capital | Earnings | Obligation | Loss | Stockholders | Interests | Total | ||||||||||||||||||||||||||
Balance at January 1, 2019 | 165,279,642 | $ | 165 | $ | 8,187,335 | $ | (1,143,992 | ) | $ | 35,766 | $ | (254,996 | ) | $ | 6,824,278 | $ | 5,777 | $ | 6,830,055 | |||||||||||||||
Shares issued under “at-the-market” offering, net | 6,672,412 | 6 | 523,387 | 523,393 | 523,393 | |||||||||||||||||||||||||||||
Shares issued upon delivery of vested restricted share awards | 322,831 | 1 | (15,766 | ) | (15,765 | ) | (15,765 | ) | ||||||||||||||||||||||||||
Shares issued upon purchases under employee share purchase plan | 3,357 | — | 252 | 252 | 252 | |||||||||||||||||||||||||||||
Deferral of vested shares, net | (1,445 | ) | 1,445 | — | — | |||||||||||||||||||||||||||||
Amortization of stock-based compensation expense | 18,787 | 18,787 | 18,787 | |||||||||||||||||||||||||||||||
Contributions from noncontrolling interests | — | 849 | 849 | |||||||||||||||||||||||||||||||
Distributions to noncontrolling interests | — | (1,683 | ) | (1,683 | ) | |||||||||||||||||||||||||||||
Dividends declared ($4.14 per share) | 4,985 | (718,625 | ) | 52 | (713,588 | ) | (713,588 | ) | ||||||||||||||||||||||||||
Net income | 305,243 | 305,243 | 1,301 | 306,544 | ||||||||||||||||||||||||||||||
Other comprehensive loss: | ||||||||||||||||||||||||||||||||||
Unrealized loss on derivative instruments | (1,054 | ) | (1,054 | ) | (1,054 | ) | ||||||||||||||||||||||||||||
Foreign currency translation adjustments | 376 | 376 | 376 | |||||||||||||||||||||||||||||||
Unrealized gain on investments | 7 | 7 | 7 | |||||||||||||||||||||||||||||||
Balance at December 31, 2019 | 172,278,242 | $ | 172 | $ | 8,717,535 | $ | (1,557,374 | ) | $ | 37,263 | $ | (255,667 | ) | $ | 6,941,929 | $ | 6,244 | $ | 6,948,173 |
W. P. Carey |
W. P. Carey Stockholders | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Distributions | Accumulated | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock | Additional | in Excess of | Deferred | Other | Total | ||||||||||||||||||||||||||||||||||||||||||||||||
$0.001 Par Value | Paid-in | Accumulated | Compensation | Comprehensive | W. P. Carey | Noncontrolling | |||||||||||||||||||||||||||||||||||||||||||||||
Shares | Amount | Capital | Earnings | Obligation | Loss | Stockholders | Interests | Total | |||||||||||||||||||||||||||||||||||||||||||||
Balance at January 1, 2019 | 165,279,642 | $ | 165 | $ | 8,187,335 | $ | (1,143,992) | $ | 35,766 | $ | (254,996) | $ | 6,824,278 | $ | 5,777 | $ | 6,830,055 | ||||||||||||||||||||||||||||||||||||
Shares issued under “at-the-market” offering, net | 6,672,412 | 6 | 523,387 | 523,393 | 523,393 | ||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued upon delivery of vested restricted share awards | 322,831 | 1 | (15,766) | (15,765) | (15,765) | ||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued upon purchases under employee share purchase plan | 3,357 | — | 252 | 252 | 252 | ||||||||||||||||||||||||||||||||||||||||||||||||
Deferral of vested shares, net | (1,445) | 1,445 | — | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of stock-based compensation expense | 18,787 | 18,787 | 18,787 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Contributions from noncontrolling interests | — | 849 | 849 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Distributions to noncontrolling interests | — | (1,683) | (1,683) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends declared ($4.14 per share) | 4,985 | (718,625) | 52 | (713,588) | (713,588) | ||||||||||||||||||||||||||||||||||||||||||||||||
Net income | 305,243 | 305,243 | 1,301 | 306,544 | |||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Unrealized loss on derivative instruments | (1,054) | (1,054) | (1,054) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Foreign currency translation adjustments | 376 | 376 | 376 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Unrealized gain on investments | 7 | 7 | 7 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at December 31, 2019 | 172,278,242 | $ | 172 | $ | 8,717,535 | $ | (1,557,374) | $ | 37,263 | $ | (255,667) | $ | 6,941,929 | $ | 6,244 | $ | 6,948,173 |
W. P. Carey Stockholders | ||||||||||||||||||||||||||||||||||
Distributions | Accumulated | |||||||||||||||||||||||||||||||||
Common Stock | Additional | in Excess of | Deferred | Other | Total | |||||||||||||||||||||||||||||
$0.001 Par Value | Paid-in | Accumulated | Compensation | Comprehensive | W. P. Carey | Noncontrolling | ||||||||||||||||||||||||||||
Shares | Amount | Capital | Earnings | Obligation | Loss | Stockholders | Interests | Total | ||||||||||||||||||||||||||
Balance at January 1, 2018 | 106,922,616 | $ | 107 | $ | 4,433,573 | $ | (1,052,064 | ) | $ | 46,656 | $ | (236,011 | ) | $ | 3,192,261 | $ | 219,124 | $ | 3,411,385 | |||||||||||||||
Shares issued to stockholders of CPA:17 – Global in connection with CPA:17 Merger | 53,849,087 | 54 | 3,554,524 | 3,554,578 | 3,554,578 | |||||||||||||||||||||||||||||
Shares issued under “at-the-market” offering, net | 4,229,285 | 4 | 287,433 | 287,437 | 287,437 | |||||||||||||||||||||||||||||
Shares issued upon delivery of vested restricted share awards | 293,481 | — | (13,644 | ) | (13,644 | ) | (13,644 | ) | ||||||||||||||||||||||||||
Shares issued upon purchases under employee share purchase plan | 2,951 | — | 178 | 178 | 178 | |||||||||||||||||||||||||||||
Delivery of deferred vested shares, net | 10,890 | (10,890 | ) | — | — | |||||||||||||||||||||||||||||
Amortization of stock-based compensation expense | 18,294 | 18,294 | 18,294 | |||||||||||||||||||||||||||||||
Acquisition of remaining noncontrolling interests in investments that we already consolidate in connection with the CPA:17 Merger | (103,075 | ) | (103,075 | ) | (206,516 | ) | (309,591 | ) | ||||||||||||||||||||||||||
Acquisition of noncontrolling interests in connection with the CPA:17 Merger | — | 5,039 | 5,039 | |||||||||||||||||||||||||||||||
Contributions from noncontrolling interests | — | 71 | 71 | |||||||||||||||||||||||||||||||
Distributions to noncontrolling interests | — | (16,935 | ) | (16,935 | ) | |||||||||||||||||||||||||||||
Redemption value adjustment | (335 | ) | (335 | ) | (335 | ) | ||||||||||||||||||||||||||||
Dividends declared ($4.09 per share) | 675 | (503,494 | ) | — | (502,819 | ) | (502,819 | ) | ||||||||||||||||||||||||||
Repurchase of shares in connection with CPA:17 Merger | (17,778 | ) | — | (1,178 | ) | (1,178 | ) | (1,178 | ) | |||||||||||||||||||||||||
Net income | 411,566 | 411,566 | 12,775 | 424,341 | ||||||||||||||||||||||||||||||
Other comprehensive loss: | ||||||||||||||||||||||||||||||||||
Foreign currency translation adjustments | (24,069 | ) | (24,069 | ) | (7,774 | ) | (31,843 | ) | ||||||||||||||||||||||||||
Unrealized gain on derivative instruments | 4,930 | 4,930 | (7 | ) | 4,923 | |||||||||||||||||||||||||||||
Unrealized gain on investments | 154 | 154 | 154 | |||||||||||||||||||||||||||||||
Balance at December 31, 2018 | 165,279,642 | $ | 165 | $ | 8,187,335 | $ | (1,143,992 | ) | $ | 35,766 | $ | (254,996 | ) | $ | 6,824,278 | $ | 5,777 | $ | 6,830,055 |
W. P. Carey |
W. P. Carey Stockholders | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Distributions | Accumulated | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock | Additional | in Excess of | Deferred | Other | Total | ||||||||||||||||||||||||||||||||||||||||||||||||
$0.001 Par Value | Paid-in | Accumulated | Compensation | Comprehensive | W. P. Carey | Noncontrolling | |||||||||||||||||||||||||||||||||||||||||||||||
Shares | Amount | Capital | Earnings | Obligation | Loss | Stockholders | Interests | Total | |||||||||||||||||||||||||||||||||||||||||||||
Balance at January 1, 2018 | 106,922,616 | $ | 107 | $ | 4,433,573 | $ | (1,052,064) | $ | 46,656 | $ | (236,011) | $ | 3,192,261 | $ | 219,124 | $ | 3,411,385 | ||||||||||||||||||||||||||||||||||||
Shares issued to stockholders of CPA:17 – Global in connection with CPA:17 Merger | 53,849,087 | 54 | 3,554,524 | 3,554,578 | 3,554,578 | ||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued under “at-the-market” offering, net | 4,229,285 | 4 | 287,433 | 287,437 | 287,437 | ||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued upon delivery of vested restricted share awards | 293,481 | — | (13,644) | (13,644) | (13,644) | ||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued upon purchases under employee share purchase plan | 2,951 | — | 178 | 178 | 178 | ||||||||||||||||||||||||||||||||||||||||||||||||
Delivery of deferred vested shares, net | 10,890 | (10,890) | — | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of stock-based compensation expense | 18,294 | 18,294 | 18,294 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition of remaining noncontrolling interests in investments that we already consolidate in connection with the CPA:17 Merger | (103,075) | (103,075) | (206,516) | (309,591) | |||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition of noncontrolling interests in connection with the CPA:17 Merger | — | 5,039 | 5,039 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Contributions from noncontrolling interests | — | 71 | 71 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Distributions to noncontrolling interests | — | (16,935) | (16,935) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Redemption value adjustment | (335) | (335) | (335) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends declared ($4.09 per share) | 675 | (503,494) | — | (502,819) | (502,819) | ||||||||||||||||||||||||||||||||||||||||||||||||
Repurchase of shares in connection with CPA:17 Merger | (17,778) | — | (1,178) | (1,178) | (1,178) | ||||||||||||||||||||||||||||||||||||||||||||||||
Net income | 411,566 | 411,566 | 12,775 | 424,341 | |||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive loss: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Foreign currency translation adjustments | (24,069) | (24,069) | (7,774) | (31,843) | |||||||||||||||||||||||||||||||||||||||||||||||||
Unrealized gain on derivative instruments | 4,930 | 4,930 | (7) | 4,923 | |||||||||||||||||||||||||||||||||||||||||||||||||
Unrealized gain on investments | 154 | 154 | 154 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at December 31, 2018 | 165,279,642 | $ | 165 | $ | 8,187,335 | $ | (1,143,992) | $ | 35,766 | $ | (254,996) | $ | 6,824,278 | $ | 5,777 | $ | 6,830,055 |
W. P. Carey Stockholders | ||||||||||||||||||||||||||||||||||
Distributions | Accumulated | |||||||||||||||||||||||||||||||||
Common Stock | Additional | in Excess of | Deferred | Other | Total | |||||||||||||||||||||||||||||
$0.001 Par Value | Paid-in | Accumulated | Compensation | Comprehensive | W. P. Carey | Noncontrolling | ||||||||||||||||||||||||||||
Shares | Amount | Capital | Earnings | Obligation | Loss | Stockholders | Interests | Total | ||||||||||||||||||||||||||
Balance at January 1, 2017 | 106,294,162 | $ | 106 | $ | 4,399,961 | $ | (894,137 | ) | $ | 50,222 | $ | (254,485 | ) | $ | 3,301,667 | $ | 123,473 | $ | 3,425,140 | |||||||||||||||
Shares issued under “at-the-market” offering, net | 345,253 | 1 | 22,885 | 22,886 | 22,886 | |||||||||||||||||||||||||||||
Shares issued to a third party in connection with a legal settlement | 11,077 | — | 772 | 772 | 772 | |||||||||||||||||||||||||||||
Shares issued upon delivery of vested restricted share awards | 229,121 | — | (10,385 | ) | (10,385 | ) | (10,385 | ) | ||||||||||||||||||||||||||
Shares issued upon exercise of stock options and purchases under employee share purchase plan | 43,003 | — | (1,680 | ) | (1,680 | ) | (1,680 | ) | ||||||||||||||||||||||||||
Delivery of deferred vested shares, net | 3,790 | (3,790 | ) | — | — | |||||||||||||||||||||||||||||
Amortization of stock-based compensation expense | 18,917 | 18,917 | 18,917 | |||||||||||||||||||||||||||||||
Acquisition of noncontrolling interest | (1,845 | ) | (1,845 | ) | 1,845 | — | ||||||||||||||||||||||||||||
Contributions from noncontrolling interests | — | 90,550 | 90,550 | |||||||||||||||||||||||||||||||
Distributions to noncontrolling interests | — | (20,643 | ) | (20,643 | ) | |||||||||||||||||||||||||||||
Dividends declared ($4.01 per share) | 1,158 | (435,216 | ) | 224 | (433,834 | ) | (433,834 | ) | ||||||||||||||||||||||||||
Net income | 277,289 | 277,289 | 7,794 | 285,083 | ||||||||||||||||||||||||||||||
Other comprehensive income: | ||||||||||||||||||||||||||||||||||
Foreign currency translation adjustments | 56,308 | 56,308 | 16,120 | 72,428 | ||||||||||||||||||||||||||||||
Unrealized loss on derivative instruments | (37,763 | ) | (37,763 | ) | (15 | ) | (37,778 | ) | ||||||||||||||||||||||||||
Unrealized loss on investments | (71 | ) | (71 | ) | (71 | ) | ||||||||||||||||||||||||||||
Balance at December 31, 2017 | 106,922,616 | $ | 107 | $ | 4,433,573 | $ | (1,052,064 | ) | $ | 46,656 | $ | (236,011 | ) | $ | 3,192,261 | $ | 219,124 | $ | 3,411,385 |
W. P. Carey |
Years Ended December 31, | |||||||||||
2019 | 2018 | 2017 | |||||||||
Cash Flows — Operating Activities | |||||||||||
Net income | $ | 306,544 | $ | 424,341 | $ | 285,083 | |||||
Adjustments to net income: | |||||||||||
Depreciation and amortization, including intangible assets and deferred financing costs | 460,030 | 298,166 | 261,415 | ||||||||
Amortization of rent-related intangibles and deferred rental revenue | 84,878 | 51,132 | 55,051 | ||||||||
Straight-line rent adjustments | (46,260 | ) | (21,994 | ) | (16,980 | ) | |||||
Impairment charges | 32,539 | 4,790 | 2,769 | ||||||||
Investment Management revenue received in shares of Managed REITs and other | (30,555 | ) | (49,110 | ) | (69,658 | ) | |||||
Distributions of earnings from equity method investments | 26,772 | 62,015 | 66,259 | ||||||||
Equity in earnings of equity method investments in the Managed Programs and real estate | (23,229 | ) | (61,514 | ) | (64,750 | ) | |||||
Stock-based compensation expense | 18,787 | 18,294 | 18,917 | ||||||||
Gain on sale of real estate, net | (18,143 | ) | (118,605 | ) | (33,878 | ) | |||||
Loss (gain) on change in control of interests | 8,416 | (47,814 | ) | — | |||||||
Deferred income tax expense (benefit) | 9,255 | (6,279 | ) | (20,013 | ) | ||||||
Realized and unrealized (gains) losses on foreign currency transactions, derivatives, and other | (466 | ) | (17,644 | ) | 16,879 | ||||||
Changes in assets and liabilities: | |||||||||||
Net changes in other operating assets and liabilities | (20,783 | ) | (28,054 | ) | 9,390 | ||||||
Deferred structuring revenue received | 4,913 | 9,456 | 16,705 | ||||||||
Increase in deferred structuring revenue receivable | (621 | ) | (8,014 | ) | (6,530 | ) | |||||
Net Cash Provided by Operating Activities | 812,077 | 509,166 | 520,659 | ||||||||
Cash Flows — Investing Activities | |||||||||||
Purchases of real estate | (717,666 | ) | (719,548 | ) | (31,842 | ) | |||||
Proceeds from sales of real estate | 307,959 | 431,626 | 159,933 | ||||||||
Funding for real estate construction, redevelopments, and other capital expenditures on real estate | (165,490 | ) | (107,684 | ) | (78,367 | ) | |||||
Proceeds from repayment of short-term loans to affiliates | 46,637 | 37,000 | 277,894 | ||||||||
Funding of short-term loans to affiliates | (36,808 | ) | (10,000 | ) | (123,492 | ) | |||||
Return of capital from equity method investments | 34,365 | 16,382 | 10,085 | ||||||||
Proceeds from repayment of loans receivable | 19,707 | 488 | 436 | ||||||||
Other investing activities, net | (8,882 | ) | (8,169 | ) | 882 | ||||||
Capital contributions to equity method investments | (2,595 | ) | (18,173 | ) | (1,291 | ) | |||||
Cash and restricted cash acquired in connection with the CPA:17 Merger | — | 113,634 | — | ||||||||
Cash paid to stockholders of CPA:17 – Global in the CPA:17 Merger | — | (1,688 | ) | — | |||||||
Net Cash (Used in) Provided by Investing Activities | (522,773 | ) | (266,132 | ) | 214,238 | ||||||
Cash Flows — Financing Activities | |||||||||||
Proceeds from Senior Unsecured Credit Facility | 1,336,824 | 1,403,254 | 1,302,463 | ||||||||
Repayments of Senior Unsecured Credit Facility | (1,227,153 | ) | (2,108,629 | ) | (1,680,198 | ) | |||||
Prepayments of mortgage principal | (1,028,795 | ) | (207,450 | ) | (193,434 | ) | |||||
Proceeds from issuance of Senior Unsecured Notes | 870,635 | 1,183,828 | 530,456 | ||||||||
Dividends paid | (704,396 | ) | (440,431 | ) | (431,182 | ) | |||||
Proceeds from shares issued under “at-the-market” offering, net of selling costs | 523,287 | 287,544 | 22,824 | ||||||||
Scheduled payments of mortgage principal | (210,414 | ) | (100,433 | ) | (344,440 | ) | |||||
Payments for withholding taxes upon delivery of equity-based awards and exercises of stock options | (15,766 | ) | (13,985 | ) | (11,969 | ) | |||||
Payment of financing costs | (6,716 | ) | (8,059 | ) | (12,675 | ) | |||||
Other financing activities, net | 5,550 | (1,465 | ) | (1,301 | ) | ||||||
Distributions paid to noncontrolling interests | (1,683 | ) | (18,216 | ) | (20,643 | ) | |||||
Contributions from noncontrolling interests | 849 | 71 | 90,550 | ||||||||
Repurchase of shares in connection with CPA:17 Merger | — | (1,178 | ) | — | |||||||
Proceeds from mortgage financing | — | 857 | 4,083 | ||||||||
Net Cash Used in Financing Activities | (457,778 | ) | (24,292 | ) | (745,466 | ) | |||||
Change in Cash and Cash Equivalents and Restricted Cash During the Year | |||||||||||
Effect of exchange rate changes on cash and cash equivalents and restricted cash | (4,071 | ) | (4,355 | ) | 9,514 | ||||||
Net (decrease) increase in cash and cash equivalents and restricted cash | (172,545 | ) | 214,387 | (1,055 | ) | ||||||
Cash and cash equivalents and restricted cash, beginning of year | 424,063 | 209,676 | 210,731 | ||||||||
Cash and cash equivalents and restricted cash, end of year | $ | 251,518 | $ | 424,063 | $ | 209,676 |
Years Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Cash Flows — Operating Activities | |||||||||||||||||
Net income | $ | 465,955 | $ | 306,544 | $ | 424,341 | |||||||||||
Adjustments to net income: | |||||||||||||||||
Depreciation and amortization, including intangible assets and deferred financing costs | 456,210 | 460,030 | 298,166 | ||||||||||||||
Gain on sale of real estate, net | (109,370) | (18,143) | (118,605) | ||||||||||||||
Realized and unrealized gains on foreign currency transactions, derivatives, and other | (55,810) | (466) | (17,644) | ||||||||||||||
Amortization of rent-related intangibles and deferred rental revenue | 52,736 | 84,878 | 51,132 | ||||||||||||||
Straight-line rent adjustments | (50,299) | (46,260) | (21,994) | ||||||||||||||
Deferred income tax (benefit) expense | (49,076) | 9,255 | (6,279) | ||||||||||||||
Impairment charges | 35,830 | 32,539 | 4,790 | ||||||||||||||
Allowance for credit losses | 22,259 | 0 | 0 | ||||||||||||||
Equity in losses (earnings) of equity method investments in the Managed Programs and real estate | 18,557 | (23,229) | (61,514) | ||||||||||||||
Asset management revenue received in shares of Managed REITs | (16,642) | (30,555) | (49,110) | ||||||||||||||
Stock-based compensation expense | 15,938 | 18,787 | 18,294 | ||||||||||||||
Distributions of earnings from equity method investments | 9,419 | 26,772 | 62,015 | ||||||||||||||
Loss (gain) on change in control of interests | 0 | 8,416 | (47,814) | ||||||||||||||
Changes in assets and liabilities: | |||||||||||||||||
Net changes in other operating assets and liabilities | 3,239 | (20,783) | (28,054) | ||||||||||||||
Deferred structuring revenue received | 2,680 | 4,913 | 9,456 | ||||||||||||||
Increase in deferred structuring revenue receivable | (88) | (621) | (8,014) | ||||||||||||||
Net Cash Provided by Operating Activities | 801,538 | 812,077 | 509,166 | ||||||||||||||
Cash Flows — Investing Activities | |||||||||||||||||
Purchases of real estate | (656,313) | (717,666) | (719,548) | ||||||||||||||
Proceeds from sales of real estate | 366,532 | 307,959 | 431,626 | ||||||||||||||
Funding for real estate construction, redevelopments, and other capital expenditures on real estate | (207,256) | (165,490) | (107,684) | ||||||||||||||
Purchases of securities | (95,511) | 0 | 0 | ||||||||||||||
Proceeds from repayment of short-term loans to affiliates | 51,702 | 46,637 | 37,000 | ||||||||||||||
Funding of short-term loans to affiliates | (26,481) | (36,808) | (10,000) | ||||||||||||||
Return of capital from equity method investments | 19,483 | 34,365 | 16,382 | ||||||||||||||
Proceeds from repayment of loans receivable | 11,000 | 19,707 | 488 | ||||||||||||||
Capital contributions to equity method investments | (4,253) | (2,595) | (18,173) | ||||||||||||||
Other investing activities, net | 1,165 | (8,882) | (8,169) | ||||||||||||||
Cash and restricted cash acquired in connection with the CPA:17 Merger | 0 | 0 | 113,634 | ||||||||||||||
Cash paid to stockholders of CPA:17 – Global in the CPA:17 Merger | 0 | 0 | (1,688) | ||||||||||||||
Net Cash Used in Investing Activities | (539,932) | (522,773) | (266,132) | ||||||||||||||
Cash Flows — Financing Activities | |||||||||||||||||
Repayments of Unsecured Revolving Credit Facility | (1,137,026) | (1,227,153) | (1,655,076) | ||||||||||||||
Proceeds from Unsecured Revolving Credit Facility | 1,019,158 | 1,336,824 | 1,403,254 | ||||||||||||||
Dividends paid | (726,955) | (704,396) | (440,431) | ||||||||||||||
Proceeds from issuance of Senior Unsecured Notes | 495,495 | 870,635 | 1,183,828 | ||||||||||||||
Proceeds from Unsecured Term Loans | 298,974 | 0 | 0 | ||||||||||||||
Scheduled payments of mortgage principal | (275,746) | (210,414) | (100,433) | ||||||||||||||
Proceeds from shares issued under forward sale agreements, net of selling costs | 199,716 | 0 | 0 | ||||||||||||||
Prepayments of mortgage principal | (68,501) | (1,028,795) | (207,450) | ||||||||||||||
Payment of financing costs | (14,205) | (6,716) | (8,059) | ||||||||||||||
Other financing activities, net | 8,917 | 5,550 | (608) | ||||||||||||||
Payments for withholding taxes upon delivery of equity-based awards | (5,372) | (15,766) | (13,985) | ||||||||||||||
Distributions paid to noncontrolling interests | (5,326) | (1,683) | (18,216) | ||||||||||||||
Proceeds from shares issued under ATM Program, net of selling costs | 158 | 523,287 | 287,544 | ||||||||||||||
Contributions from noncontrolling interests | 0 | 849 | 71 | ||||||||||||||
Repayments of term loans | 0 | 0 | (453,553) | ||||||||||||||
Repurchase of shares in connection with CPA:17 Merger | 0 | 0 | (1,178) | ||||||||||||||
Net Cash Used in Financing Activities | (210,713) | (457,778) | (24,292) | ||||||||||||||
Change in Cash and Cash Equivalents and Restricted Cash During the Year | |||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents and restricted cash | 9,368 | (4,071) | (4,355) | ||||||||||||||
Net increase (decrease) in cash and cash equivalents and restricted cash | 60,261 | (172,545) | 214,387 | ||||||||||||||
Cash and cash equivalents and restricted cash, beginning of year | 251,518 | 424,063 | 209,676 | ||||||||||||||
Cash and cash equivalents and restricted cash, end of year | $ | 311,779 | $ | 251,518 | $ | 424,063 |
W. P. Carey |
Total Consideration | |||||
Fair value of W. P. Carey shares of common stock issued | $ | 3,554,578 | |||
Cash paid for fractional shares | 1,688 | ||||
Fair value of our equity interest in CPA:17 – Global prior to the CPA:17 Merger | 157,594 | ||||
Fair value of our equity interest in jointly owned investments with CPA:17 – Global prior to the CPA:17 Merger | 132,661 | ||||
Fair value of noncontrolling interests acquired | (308,891) | ||||
3,537,630 | |||||
Assets Acquired at Fair Value | |||||
Land, buildings and improvements — operating leases | 2,948,347 | ||||
Land, buildings and improvements — operating properties | 426,758 | ||||
Net investments in direct financing leases | 604,998 | ||||
In-place lease and other intangible assets | 793,463 | ||||
Above-market rent intangible assets | 298,180 | ||||
Equity investments in real estate | 192,322 | ||||
Goodwill | 296,108 | ||||
Other assets, net (excluding restricted cash) | 228,194 | ||||
Liabilities Assumed at Fair Value | |||||
Non-recourse mortgages, net | 1,849,177 | ||||
Senior Credit Facility, net | 180,331 | ||||
Accounts payable, accrued expenses and other liabilities | 141,750 | ||||
Below-market rent and other intangible liabilities | 112,721 | ||||
Deferred income taxes | 75,356 | ||||
Amounts attributable to noncontrolling interests | 5,039 | ||||
Net assets acquired excluding cash and restricted cash | 3,423,996 | ||||
Cash and restricted cash acquired | $ | 113,634 |
Total Consideration | |||
Fair value of W. P. Carey shares of common stock issued | $ | 3,554,578 | |
Cash paid for fractional shares | 1,688 | ||
Fair value of our equity interest in CPA:17 – Global prior to the CPA:17 Merger | 157,594 | ||
Fair value of our equity interest in jointly owned investments with CPA:17 – Global prior to the CPA:17 Merger | 132,661 | ||
Fair value of noncontrolling interests acquired | (308,891 | ) | |
3,537,630 | |||
Assets Acquired at Fair Value | |||
Land, buildings and improvements — operating leases | 2,948,347 | ||
Land, buildings and improvements — operating properties | 426,758 | ||
Net investments in direct financing leases | 604,998 | ||
In-place lease and other intangible assets | 793,463 | ||
Above-market rent intangible assets | 298,180 | ||
Equity investments in real estate | 192,322 | ||
Goodwill | 296,108 | ||
Other assets, net (excluding restricted cash) | 228,194 | ||
Liabilities Assumed at Fair Value | |||
Non-recourse mortgages, net | 1,849,177 | ||
Senior Credit Facility, net | 180,331 | ||
Accounts payable, accrued expenses and other liabilities | 141,750 | ||
Below-market rent and other intangible liabilities | 112,721 | ||
Deferred income taxes | 75,356 | ||
Amounts attributable to noncontrolling interests | 5,039 | ||
Net assets acquired excluding cash and restricted cash | 3,423,996 | ||
Cash and restricted cash acquired | $ | 113,634 |
W. P. Carey |
W. P. Carey 2020 10-K– 63 |
W. P. Carey 2020 10-K– 64 |
W. P. Carey 2020 10-K– 65 |
W. P. Carey 2020 10-K– 66 |
December 31, | |||||||||||
2020 | 2019 | ||||||||||
Land, buildings and improvements | $ | 423,333 | $ | 493,714 | |||||||
Net investments in direct financing leases | 15,242 | 15,584 | |||||||||
In-place lease intangible assets and other | 41,997 | 56,915 | |||||||||
Above-market rent intangible assets | 26,720 | 34,576 | |||||||||
Accumulated depreciation and amortization | (137,827) | (151,017) | |||||||||
Assets held for sale, net | 0 | 104,010 | |||||||||
Total assets | 381,953 | 596,168 | |||||||||
Non-recourse mortgages, net | $ | 3,508 | $ | 32,622 | |||||||
Total liabilities | 48,971 | 98,671 |
December 31, | |||||||
2019 | 2018 | ||||||
Land, buildings and improvements | $ | 493,714 | $ | 781,347 | |||
Net investments in direct financing leases | 15,584 | 305,493 | |||||
In-place lease intangible assets and other | 56,915 | 84,870 | |||||
Above-market rent intangible assets | 34,576 | 45,754 | |||||
Accumulated depreciation and amortization | (151,017 | ) | (164,942 | ) | |||
Assets held for sale, net | 104,010 | — | |||||
Total assets | 596,168 | 1,112,984 | |||||
Non-recourse mortgages, net | $ | 32,622 | $ | 157,955 | |||
Total liabilities | 98,671 | 227,461 |
W. P. Carey 2020 10-K– 67 |
December 31, | |||||||||||
2019 | 2018 | 2017 | |||||||||
Cash and cash equivalents | $ | 196,028 | $ | 217,644 | $ | 162,312 | |||||
Restricted cash (a) | 55,490 | 206,419 | 47,364 | ||||||||
Total cash and cash equivalents and restricted cash | $ | 251,518 | $ | 424,063 | $ | 209,676 |
December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Cash and cash equivalents | $ | 248,662 | $ | 196,028 | $ | 217,644 | |||||||||||
Restricted cash (a) | 63,117 | 55,490 | 206,419 | ||||||||||||||
Total cash and cash equivalents and restricted cash | $ | 311,779 | $ | 251,518 | $ | 424,063 |
W. P. Carey |
W. P. Carey 2020 10-K– 69 |
W. P. Carey |
W. P. Carey 2020 10-K– 71 |
W. P. Carey 2020 10-K– 72 |
W. P. Carey 2020 10-K– 73 |
Initially Reported at December 31, 2018 | Measurement Period Adjustments | As Revised at December 31, 2019 | |||||||||
Total Consideration | |||||||||||
Fair value of W. P. Carey shares of common stock issued | $ | 3,554,578 | $ | — | $ | 3,554,578 | |||||
Cash paid for fractional shares | 1,688 | — | 1,688 | ||||||||
Merger Consideration | 3,556,266 | — | 3,556,266 | ||||||||
Fair value of our equity interest in CPA:17 – Global prior to the CPA:17 Merger | 157,594 | — | 157,594 | ||||||||
Fair value of our equity interest in jointly owned investments with CPA:17 – Global prior to the CPA:17 Merger | 141,077 | (8,416 | ) | 132,661 | |||||||
Fair value of noncontrolling interests acquired | (308,891 | ) | — | (308,891 | ) | ||||||
$ | 3,546,046 | $ | (8,416 | ) | $ | 3,537,630 |
Initially Reported at December 31, 2018 | Measurement Period Adjustments | As Revised at December 31, 2019 | |||||||||
Assets | |||||||||||
Land, buildings and improvements — operating leases | $ | 2,954,034 | $ | (5,687 | ) | $ | 2,948,347 | ||||
Land, buildings and improvements — operating properties | 426,758 | — | 426,758 | ||||||||
Net investments in direct financing leases | 626,038 | (21,040 | ) | 604,998 | |||||||
In-place lease and other intangible assets | 793,463 | — | 793,463 | ||||||||
Above-market rent intangible assets | 298,180 | — | 298,180 | ||||||||
Equity investments in real estate | 189,756 | 2,566 | 192,322 | ||||||||
Cash and cash equivalents and restricted cash | 113,634 | — | 113,634 | ||||||||
Other assets, net (excluding restricted cash) | 228,980 | (786 | ) | 228,194 | |||||||
Total assets | 5,630,843 | (24,947 | ) | 5,605,896 | |||||||
Liabilities | |||||||||||
Non-recourse mortgages, net | 1,849,177 | — | 1,849,177 | ||||||||
Senior Credit Facility, net | 180,331 | — | 180,331 | ||||||||
Accounts payable, accrued expenses and other liabilities | 141,750 | — | 141,750 | ||||||||
Below-market rent and other intangible liabilities | 112,721 | — | 112,721 | ||||||||
Deferred income taxes | 76,085 | (729 | ) | 75,356 | |||||||
Total liabilities | 2,360,064 | (729 | ) | 2,359,335 | |||||||
Total identifiable net assets | 3,270,779 | (24,218 | ) | 3,246,561 | |||||||
Noncontrolling interests | (5,039 | ) | — | (5,039 | ) | ||||||
Goodwill | 280,306 | 15,802 | 296,108 | ||||||||
$ | 3,546,046 | $ | (8,416 | ) | $ | 3,537,630 |
W. P. Carey |
Years Ended December 31, | |||||||
2018 | 2017 | ||||||
Pro forma total revenues | $ | 1,207,820 | $ | 1,228,909 | |||
Pro forma net income | $ | 405,659 | $ | 275,634 | |||
Pro forma net loss (income) attributable to noncontrolling interests | 1,301 | (429 | ) | ||||
Pro forma net income attributable to W. P. Carey (a) | $ | 406,960 | $ | 275,205 |
Year Ended December 31, 2018 | |||||
Pro forma total revenues | $ | 1,207,820 | |||
405,659 | |||||
Pro forma net loss attributable to noncontrolling interests | 1,301 | ||||
Pro forma net income attributable to W. P. Carey | $ | 406,960 |
W. P. Carey 2020 10-K– 75 |
W. P. Carey 2020 10-K– 76 |
Years Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Asset management revenue (a) | $ | 21,973 | $ | 39,132 | $ | 63,556 | |||||||||||
Reimbursable costs from affiliates (a) | 8,855 | 16,547 | 21,925 | ||||||||||||||
Distributions of Available Cash (b) | 7,225 | 21,489 | 46,609 | ||||||||||||||
Structuring and other advisory revenue (a) | 494 | 4,224 | 21,126 | ||||||||||||||
Interest income on deferred acquisition fees and loans to affiliates (c) | 369 | 2,237 | 2,055 | ||||||||||||||
$ | 38,916 | $ | 83,629 | $ | 155,271 |
Years Ended December 31, | |||||||||||
2019 | 2018 | 2017 | |||||||||
Asset management revenue (a) | $ | 39,132 | $ | 63,556 | $ | 70,125 | |||||
Distributions of Available Cash (b) | 21,489 | 46,609 | 47,862 | ||||||||
Reimbursable costs from affiliates (a) | 16,547 | 21,925 | 51,445 | ||||||||
Structuring and other advisory revenue (a) | 4,224 | 21,126 | 35,094 | ||||||||
Interest income on deferred acquisition fees and loans to affiliates (c) | 2,237 | 2,055 | 2,103 | ||||||||
Dealer manager fees (a) | — | — | 4,430 | ||||||||
$ | 83,629 | $ | 155,271 | $ | 211,059 |
Years Ended December 31, | ||||||||||||||||||||||||||||
Years Ended December 31, | 2020 | 2019 | 2018 | |||||||||||||||||||||||||
2019 | 2018 | 2017 | ||||||||||||||||||||||||||
CPA:17 – Global (d) | $ | — | $ | 58,788 | $ | 75,188 | ||||||||||||||||||||||
CPA:17 – Global | CPA:17 – Global | $ | 0 | $ | 0 | $ | 58,788 | |||||||||||||||||||||
CPA:18 – Global | 26,039 | 44,969 | 28,683 | CPA:18 – Global | 22,200 | 26,039 | 44,969 | |||||||||||||||||||||
CWI 1 | 30,770 | 28,243 | 33,691 | CWI 1 | 5,662 | 30,770 | 28,243 | |||||||||||||||||||||
CWI 2 | 21,584 | 20,283 | 50,189 | CWI 2 | 4,668 | 21,584 | 20,283 | |||||||||||||||||||||
CCIF | — | — | 12,787 | |||||||||||||||||||||||||
CESH | 5,236 | 2,988 | 10,521 | CESH | 4,723 | 5,236 | 2,988 | |||||||||||||||||||||
WLT (reimbursed transition services) | WLT (reimbursed transition services) | 1,663 | 0 | 0 | ||||||||||||||||||||||||
$ | 83,629 | $ | 155,271 | $ | 211,059 | $ | 38,916 | $ | 83,629 | $ | 155,271 |
(a)Amounts represent revenues from contracts under ASC 606. (b)Included within Equity in (losses) earnings of equity method investments in the Managed Programs and real estate in the consolidated statements of income. (c)Included within Other gains and (losses) in the consolidated statements of income. |
December 31, | |||||||||||
2020 | 2019 | ||||||||||
Short-term loans to affiliates, including accrued interest | $ | 21,144 | $ | 47,721 | |||||||
Deferred acquisition fees receivable, including accrued interest | 1,858 | 4,450 | |||||||||
Reimbursable costs | 1,760 | 3,129 | |||||||||
Asset management fees receivable | 1,054 | 1,267 | |||||||||
Accounts receivable | 305 | 1,118 | |||||||||
Current acquisition fees receivable | 136 | 131 | |||||||||
$ | 26,257 | $ | 57,816 |
December 31, | |||||||
2019 | 2018 | ||||||
Short-term loans to affiliates, including accrued interest | $ | 47,721 | $ | 58,824 | |||
Deferred acquisition fees receivable, including accrued interest | 4,450 | 8,697 | |||||
Reimbursable costs | 3,129 | 3,227 | |||||
Asset management fees receivable | 1,267 | 563 | |||||
Accounts receivable | 1,118 | 1,425 | |||||
Current acquisition fees receivable | 131 | 2,106 | |||||
$ | 57,816 | $ | 74,842 |
W. P. Carey 2020 10-K– 77 |
Managed Program | Rate | Payable | Description | |||||||||||||||||
CPA:18 – Global | 0.5% – 1.5% | In shares of its Class A common stock and/or cash, at the option of CPA:18 – Global; payable in shares of its Class A common stock for 2018; payable 50% in cash and 50% in shares of its Class A common stock for | Rate depends on the type of investment and is based on the average market or average equity value, as applicable | |||||||||||||||||
In cash | Based on gross assets at fair value |
W. P. Carey 2020 10-K– 78 |
Interest Rate at December 31, 2019 | Maturity Date at December 31, 2019 | Maximum Loan Amount Authorized at December 31, 2019 | Principal Outstanding Balance at December 31, (a) | |||||||||||||
Managed Program | 2019 | 2018 | ||||||||||||||
CESH (b) (c) | LIBOR + 1.00% | 10/1/2020 | $ | 65,000 | $ | 46,269 | $ | 14,461 | ||||||||
CWI 1 (d) | N/A | N/A | 25,000 | — | 41,637 | |||||||||||
CPA:18 – Global | N/A | N/A | 50,000 | — | — | |||||||||||
CWI 2 (d) | N/A | N/A | 25,000 | — | — | |||||||||||
$ | 46,269 | $ | 56,098 |
W. P. Carey |
December 31, | |||||||
2019 | 2018 | ||||||
Land | $ | 1,875,065 | $ | 1,772,099 | |||
Buildings and improvements | 7,828,439 | 6,945,513 | |||||
Real estate under construction | 69,604 | 63,114 | |||||
Less: Accumulated depreciation | (950,452 | ) | (724,550 | ) | |||
$ | 8,822,656 | $ | 8,056,176 |
December 31, | |||||||||||
2020 | 2019 | ||||||||||
Land | $ | 2,012,688 | $ | 1,875,065 | |||||||
Buildings and improvements | 8,724,064 | 7,828,439 | |||||||||
Real estate under construction | 119,391 | 69,604 | |||||||||
Less: Accumulated depreciation | (1,206,912) | (950,452) | |||||||||
$ | 9,649,231 | $ | 8,822,656 |
W. P. Carey 2020 10-K– 80 |
Property Location(s) | Number of Properties | Date of Acquisition | Property Type | Total Capitalized Costs | ||||||||||||||||||||||
Newark, United Kingdom (a) | 1 | 1/6/2020 | Warehouse | $ | 111,546 | |||||||||||||||||||||
Aurora, Oregon (b) | 1 | 1/24/2020 | Industrial | 28,755 | ||||||||||||||||||||||
Vojens, Denmark (a) (c) | 1 | 1/31/2020 | Warehouse | 10,611 | ||||||||||||||||||||||
Kitzingen, Germany (a) | 1 | 3/9/2020 | Office | 53,666 | ||||||||||||||||||||||
Knoxville, Tennessee | 1 | 6/25/2020 | Warehouse | 66,045 | ||||||||||||||||||||||
Bluffton and Plymouth, Indiana | 2 | 9/23/2020 | Industrial | 44,466 | ||||||||||||||||||||||
Huntley, Illinois | 1 | 9/30/2020 | Industrial | 39,523 | ||||||||||||||||||||||
Various, United States | 3 | 10/12/2020 | Industrial | 50,958 | ||||||||||||||||||||||
Various, Spain (a) | 27 | 10/30/2020 | Retail | 101,153 | ||||||||||||||||||||||
Little Canada, Minnesota | 1 | 10/30/2020 | Warehouse | 34,019 | ||||||||||||||||||||||
Hurricane, Utah (d) | 1 | 12/8/2020 | Warehouse | 23,324 | ||||||||||||||||||||||
Bethlehem, Pennsylvania and Waco, Texas | 4 | 12/10/2020 | Industrial | 29,031 | ||||||||||||||||||||||
St. Charles, Missouri and Green Bay, Wisconsin | 2 | 12/18/2020 | Industrial | 29,726 | ||||||||||||||||||||||
Various, United States | 4 | 12/31/2020 | Industrial | 38,615 | ||||||||||||||||||||||
$ | 661,438 |
W. P. Carey 2020 10-K– 81 |
Property Location(s) | Primary Transaction Type | Number of Properties | Date of Completion | Property Type | Total Capitalized Costs (a) | |||||||||||||||||||||||||||
Westborough, Massachusetts | Redevelopment | 1 | 1/15/2020 | Laboratory | $ | 53,060 | ||||||||||||||||||||||||||
San Antonio, Texas (b) | Build-to-Suit | 1 | 6/25/2020 | Industrial | 78,726 | |||||||||||||||||||||||||||
Marktheidenfeld, Germany (c) | Expansion | 1 | 6/30/2020 | Warehouse | 8,254 | |||||||||||||||||||||||||||
Azambuja, Portugal (c) | Expansion | 1 | 9/21/2020 | Warehouse | 28,067 | |||||||||||||||||||||||||||
Wichita, Kansas | Expansion | 1 | 10/15/2020 | Warehouse | 3,129 | |||||||||||||||||||||||||||
$ | 171,236 |
W. P. Carey |
Years Ended December 31, | ||||||||||||||
Year Ended December 31, 2019 | 2020 | 2019 | ||||||||||||
Lease income — fixed | $ | 898,111 | Lease income — fixed | $ | 981,430 | $ | 898,111 | |||||||
Lease income — variable (a) | 89,873 | Lease income — variable (a) | 99,193 | 89,873 | ||||||||||
Total operating lease income (b) | $ | 987,984 | Total operating lease income (b) | $ | 1,080,623 | $ | 987,984 |
Years Ending December 31, | Total | |||||||
2021 | $ | 1,087,184 | ||||||
2022 | 1,069,466 | |||||||
2023 | 1,036,884 | |||||||
2024 | 965,645 | |||||||
2025 | 899,414 | |||||||
Thereafter | 7,465,238 | |||||||
Total | $ | 12,523,831 |
Years Ending December 31, | Total | |||
2020 | $ | 1,007,041 | ||
2021 | 992,378 | |||
2022 | 962,801 | |||
2023 | 924,275 | |||
2024 | 854,652 | |||
Thereafter | 7,071,917 | |||
Total | $ | 11,813,064 |
Years Ending December 31, | Total | |||
2019 | $ | 920,044 | ||
2020 | 915,411 | |||
2021 | 896,083 | |||
2022 | 861,688 | |||
2023 | 802,509 | |||
Thereafter | 6,151,480 | |||
Total | $ | 10,547,215 |
Years Ended December 31, | |||||||||||
2020 | 2019 | ||||||||||
Fixed lease cost | $ | 17,616 | $ | 14,503 | |||||||
Variable lease cost | 1,089 | 1,186 | |||||||||
Total lease cost | $ | 18,705 | $ | 15,689 |
Year Ended December 31, 2019 | |||
Fixed lease cost | $ | 14,503 | |
Variable lease cost | 1,186 | ||
Total lease cost | $ | 15,689 |
W. P. Carey 2020 10-K– 83 |
December 31, | |||||||||||||||||
Location on Consolidated Balance Sheets | 2020 | 2019 | |||||||||||||||
Operating ROU assets — land leases | In-place lease intangible assets and other | $ | 119,590 | $ | 114,209 | ||||||||||||
Operating ROU assets — office leases | Other assets, net | 61,137 | 7,519 | ||||||||||||||
Total operating ROU assets | $ | 180,727 | $ | 121,728 | |||||||||||||
Operating lease liabilities | Accounts payable, accrued expenses and other liabilities | $ | 151,466 | $ | 87,658 | ||||||||||||
Weighted-average remaining lease term — operating leases | 29.2 years | 38.2 years | |||||||||||||||
Weighted-average discount rate — operating leases | 7.1 | % | 7.8 | % | |||||||||||||
Number of land lease arrangements | 68 | 64 | |||||||||||||||
Number of office space arrangements (a) | 7 | 6 | |||||||||||||||
Lease term range (excluding extension options not reasonably certain of being exercised) | <1 – 100 years | 1 – 100 years |
Location on Consolidated Balance Sheets | December 31, 2019 | ||||
Operating ROU assets — land leases | In-place lease intangible assets and other | $ | 114,209 | ||
Operating ROU assets — office leases | Other assets, net | 7,519 | |||
Total operating ROU assets | $ | 121,728 | |||
Operating lease liabilities | Accounts payable, accrued expenses and other liabilities | $ | 87,658 | ||
Weighted-average remaining lease term — operating leases | 38.2 years | ||||
Weighted-average discount rate — operating leases | 7.8 | % | |||
Number of land lease arrangements | 64 | ||||
Number of office space arrangements | 6 | ||||
Lease term range (excluding extension options not reasonably certain of being exercised) | 1 – 100 years |
Years Ending December 31, | Total | |||||||
2021 | $ | 12,550 | ||||||
2022 | 14,556 | |||||||
2023 | 14,375 | |||||||
2024 | 13,206 | |||||||
2025 | 13,152 | |||||||
Thereafter | 323,537 | |||||||
Total lease payments | 391,376 | |||||||
Less: amount of lease payments representing interest | (239,910) | |||||||
Present value of future lease payments/lease obligations | $ | 151,466 |
Years Ending December 31, | Total | |||
2020 | $ | 14,197 | ||
2021 | 8,769 | |||
2022 | 8,006 | |||
2023 | 7,866 | |||
2024 | 6,728 | |||
Thereafter | 251,844 | |||
Total lease payments | 297,410 | |||
Less: amount of lease payments representing interest | (209,752 | ) | ||
Present value of future lease payments/lease obligations | $ | 87,658 |
W. P. Carey 2020 10-K– 84 |
December 31, | |||||||||||
2020 | 2019 | ||||||||||
Land | $ | 10,452 | $ | 10,452 | |||||||
Buildings and improvements | 73,024 | 72,631 | |||||||||
Less: Accumulated depreciation | (14,004) | (11,241) | |||||||||
$ | 69,472 | $ | 71,842 |
December 31, | |||||||
2019 | 2018 | ||||||
Land | $ | 10,452 | $ | 102,478 | |||
Buildings and improvements | 72,631 | 363,572 | |||||
Real estate under construction | — | 4,620 | |||||
Less: Accumulated depreciation | (11,241 | ) | (10,234 | ) | |||
$ | 71,842 | $ | 460,436 |
December 31, | |||||||||||
2020 | 2019 | ||||||||||
Land, buildings and improvements | $ | 14,051 | $ | 105,573 | |||||||
In-place lease intangible assets and other | 12,754 | 0 | |||||||||
Above-market rent intangible assets | 518 | 0 | |||||||||
Accumulated depreciation and amortization | (8,733) | (1,563) | |||||||||
Assets held for sale, net | $ | 18,590 | $ | 104,010 |
December 31, | |||||||
2019 | 2018 | ||||||
Land, buildings and improvements | $ | 105,573 | $ | — | |||
Accumulated depreciation and amortization | (1,563 | ) | — | ||||
Assets held for sale, net | $ | 104,010 | $ | — |
W. P. Carey 2020 10-K– 85 |
December 31, | |||||||||||
2020 | 2019 | ||||||||||
Lease payments receivable | $ | 527,691 | $ | 686,149 | |||||||
Unguaranteed residual value | 677,722 | 828,206 | |||||||||
1,205,413 | 1,514,355 | ||||||||||
Less: unearned income | (476,365) | (617,806) | |||||||||
Less: allowance for credit losses (a) | (17,074) | 0 | |||||||||
$ | 711,974 | $ | 896,549 |
December 31, | |||||||
2019 | 2018 | ||||||
Lease payments receivable | $ | 686,149 | $ | 1,160,977 | |||
Unguaranteed residual value | 828,206 | 966,826 | |||||
1,514,355 | 2,127,803 | ||||||
Less: unearned income | (617,806 | ) | (821,588 | ) | |||
$ | 896,549 | $ | 1,306,215 |
W. P. Carey |
Years Ending December 31, | Total | Years Ending December 31, | Total | |||||||||
2020 | $ | 86,334 | ||||||||||
2021 | 85,061 | 2021 | $ | 71,407 | ||||||||
2022 | 75,865 | 2022 | 66,689 | |||||||||
2023 | 69,406 | 2023 | 61,768 | |||||||||
2024 | 64,636 | 2024 | 57,702 | |||||||||
2025 | 2025 | 50,879 | ||||||||||
Thereafter | 304,847 | Thereafter | 219,246 | |||||||||
Total | $ | 686,149 | Total | $ | 527,691 |
Years Ending December 31, | Total | |||
2019 (a) | $ | 373,632 | ||
2020 | 98,198 | |||
2021 | 95,181 | |||
2022 | 85,801 | |||
2023 | 80,033 | |||
Thereafter | 428,132 | |||
Total | $ | 1,160,977 |
W. P. Carey 2020 10-K– 87 |
Number of Tenants / Obligors at December 31, | Carrying Value at December 31, | |||||||||||||||||||||||||
Internal Credit Quality Indicator | 2020 | 2019 | 2020 (a) | 2019 | ||||||||||||||||||||||
1 – 3 | 18 | 28 | $ | 587,103 | $ | 798,108 | ||||||||||||||||||||
4 | 9 | 8 | 141,944 | 146,178 | ||||||||||||||||||||||
5 | 2 | 0 | 36,737 | 0 | ||||||||||||||||||||||
$ | 765,784 | $ | 944,286 |
Number of Tenants / Obligors at December 31, | Carrying Value at December 31, | |||||||||||
Internal Credit Quality Indicator | 2019 | 2018 | 2019 | 2018 | ||||||||
1 – 3 | 28 | 36 | $ | 798,108 | $ | 1,135,321 | ||||||
4 | 8 | 10 | 146,178 | 227,591 | ||||||||
5 | — | 1 | — | 10,580 | ||||||||
$ | 944,286 | $ | 1,373,492 |
Real Estate | Investment Management | Total | |||||||||||||||
Balance at January 1, 2018 | $ | 580,353 | $ | 63,607 | $ | 643,960 | |||||||||||
280,306 | 0 | 280,306 | |||||||||||||||
Foreign currency translation adjustments | (3,322) | 0 | (3,322) | ||||||||||||||
Balance at December 31, 2018 | 857,337 | 63,607 | 920,944 | ||||||||||||||
15,802 | 0 | 15,802 | |||||||||||||||
Foreign currency translation adjustments | (2,058) | 0 | (2,058) | ||||||||||||||
Balance at December 31, 2019 | 871,081 | 63,607 | 934,688 | ||||||||||||||
Foreign currency translation adjustments | 10,403 | 0 | 10,403 | ||||||||||||||
0 | (34,273) | (34,273) | |||||||||||||||
Balance at December 31, 2020 | $ | 881,484 | $ | 29,334 | $ | 910,818 |
Real Estate | Investment Management | Total | |||||||||
Balance at January 1, 2017 | $ | 572,313 | $ | 63,607 | $ | 635,920 | |||||
Foreign currency translation adjustments | 8,040 | — | 8,040 | ||||||||
Balance at December 31, 2017 | 580,353 | 63,607 | 643,960 | ||||||||
280,306 | — | 280,306 | |||||||||
Foreign currency translation adjustments | (3,322 | ) | — | (3,322 | ) | ||||||
Balance at December 31, 2018 | 857,337 | 63,607 | 920,944 | ||||||||
15,802 | — | 15,802 | |||||||||
Foreign currency translation adjustments | (2,058 | ) | — | (2,058 | ) | ||||||
Balance at December 31, 2019 | $ | 871,081 | $ | 63,607 | $ | 934,688 |
W. P. Carey 2020 10-K– 88 |
December 31, | |||||||||||||||||||||||||||||||||||
2020 | 2019 | ||||||||||||||||||||||||||||||||||
Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | ||||||||||||||||||||||||||||||
Finite-Lived Intangible Assets | |||||||||||||||||||||||||||||||||||
Internal-use software development costs | $ | 19,204 | $ | (15,711) | $ | 3,493 | $ | 19,582 | $ | (13,491) | $ | 6,091 | |||||||||||||||||||||||
Trade name | 3,975 | (2,786) | 1,189 | 3,975 | (1,991) | 1,984 | |||||||||||||||||||||||||||||
23,179 | (18,497) | 4,682 | 23,557 | (15,482) | 8,075 | ||||||||||||||||||||||||||||||
Lease Intangibles: | |||||||||||||||||||||||||||||||||||
In-place lease | 2,181,584 | (828,219) | 1,353,365 | 2,072,642 | (676,008) | 1,396,634 | |||||||||||||||||||||||||||||
Above-market rent | 881,159 | (440,952) | 440,207 | 909,139 | (398,294) | 510,845 | |||||||||||||||||||||||||||||
3,062,743 | (1,269,171) | 1,793,572 | 2,981,781 | (1,074,302) | 1,907,479 | ||||||||||||||||||||||||||||||
Indefinite-Lived Goodwill | |||||||||||||||||||||||||||||||||||
Goodwill | 910,818 | — | 910,818 | 934,688 | — | 934,688 | |||||||||||||||||||||||||||||
Total intangible assets | $ | 3,996,740 | $ | (1,287,668) | $ | 2,709,072 | $ | 3,940,026 | $ | (1,089,784) | $ | 2,850,242 | |||||||||||||||||||||||
Finite-Lived Intangible Liabilities | |||||||||||||||||||||||||||||||||||
Below-market rent | $ | (270,730) | $ | 90,193 | $ | (180,537) | $ | (268,515) | $ | 74,484 | $ | (194,031) | |||||||||||||||||||||||
Indefinite-Lived Intangible Liabilities | |||||||||||||||||||||||||||||||||||
Below-market purchase option | (16,711) | — | (16,711) | (16,711) | — | (16,711) | |||||||||||||||||||||||||||||
Total intangible liabilities | $ | (287,441) | $ | 90,193 | $ | (197,248) | $ | (285,226) | $ | 74,484 | $ | (210,742) |
December 31, | |||||||||||||||||||||||
2019 | 2018 | ||||||||||||||||||||||
Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | ||||||||||||||||||
Finite-Lived Intangible Assets | |||||||||||||||||||||||
Internal-use software development costs | $ | 19,582 | $ | (13,491 | ) | $ | 6,091 | $ | 18,924 | $ | (10,672 | ) | $ | 8,252 | |||||||||
Trade name | 3,975 | (1,991 | ) | 1,984 | 3,975 | (1,196 | ) | 2,779 | |||||||||||||||
23,557 | (15,482 | ) | 8,075 | 22,899 | (11,868 | ) | 11,031 | ||||||||||||||||
Lease Intangibles: | |||||||||||||||||||||||
In-place lease | 2,072,642 | (676,008 | ) | 1,396,634 | 1,960,437 | (496,096 | ) | 1,464,341 | |||||||||||||||
Above-market rent | 909,139 | (398,294 | ) | 510,845 | 925,797 | (330,935 | ) | 594,862 | |||||||||||||||
Below-market ground lease (a) | — | — | — | 42,889 | (2,367 | ) | 40,522 | ||||||||||||||||
2,981,781 | (1,074,302 | ) | 1,907,479 | 2,929,123 | (829,398 | ) | 2,099,725 | ||||||||||||||||
Indefinite-Lived Goodwill and Intangible Assets | |||||||||||||||||||||||
Goodwill | 934,688 | — | 934,688 | 920,944 | — | 920,944 | |||||||||||||||||
Below-market ground lease (a) | — | — | — | 6,302 | — | 6,302 | |||||||||||||||||
934,688 | — | 934,688 | 927,246 | — | 927,246 | ||||||||||||||||||
Total intangible assets | $ | 3,940,026 | $ | (1,089,784 | ) | $ | 2,850,242 | $ | 3,879,268 | $ | (841,266 | ) | $ | 3,038,002 | |||||||||
Finite-Lived Intangible Liabilities | |||||||||||||||||||||||
Below-market rent | $ | (268,515 | ) | $ | 74,484 | $ | (194,031 | ) | $ | (253,633 | ) | $ | 57,514 | $ | (196,119 | ) | |||||||
Above-market ground lease (a) | — | — | — | (15,961 | ) | 3,663 | (12,298 | ) | |||||||||||||||
(268,515 | ) | 74,484 | (194,031 | ) | (269,594 | ) | 61,177 | (208,417 | ) | ||||||||||||||
Indefinite-Lived Intangible Liabilities | |||||||||||||||||||||||
Below-market purchase option | (16,711 | ) | — | (16,711 | ) | (16,711 | ) | — | (16,711 | ) | |||||||||||||
Total intangible liabilities | $ | (285,226 | ) | $ | 74,484 | $ | (210,742 | ) | $ | (286,305 | ) | $ | 61,177 | $ | (225,128 | ) |
Years Ending December 31, | Net Decrease in Lease Revenues | Increase to Amortization | Total | |||||||||||||||||
2021 | $ | 47,886 | $ | 165,930 | $ | 213,816 | ||||||||||||||
2022 | 40,751 | 152,888 | 193,639 | |||||||||||||||||
2023 | 36,660 | 141,758 | 178,418 | |||||||||||||||||
2024 | 31,895 | 127,093 | 158,988 | |||||||||||||||||
2025 | 27,795 | 116,546 | 144,341 | |||||||||||||||||
Thereafter | 74,683 | 653,832 | 728,515 | |||||||||||||||||
Total | $ | 259,670 | $ | 1,358,047 | $ | 1,617,717 |
Years Ending December 31, | Net Decrease in Lease Revenues | Increase to Amortization | Total | |||||||||
2020 | $ | 55,165 | $ | 189,081 | $ | 244,246 | ||||||
2021 | 50,656 | 173,294 | 223,950 | |||||||||
2022 | 43,208 | 160,116 | 203,324 | |||||||||
2023 | 39,144 | 148,999 | 188,143 | |||||||||
2024 | 34,192 | 134,364 | 168,556 | |||||||||
Thereafter | 94,449 | 598,855 | 693,304 | |||||||||
Total | $ | 316,814 | $ | 1,404,709 | $ | 1,721,523 |
Years Ended December 31, | |||||||||||
2019 | 2018 | 2017 | |||||||||
$ | 21,489 | $ | 46,609 | $ | 47,862 | ||||||
Proportionate share of equity in earnings of equity method investments in the Managed Programs | 862 | 3,896 | 5,156 | ||||||||
Amortization of basis differences on equity method investments in the Managed Programs | (1,483 | ) | (2,332 | ) | (1,336 | ) | |||||
Total equity in earnings of equity method investments in the Managed Programs | 20,868 | 48,173 | 51,682 | ||||||||
Equity in earnings of equity method investments in real estate | 3,408 | 15,585 | 15,452 | ||||||||
Amortization of basis differences on equity method investments in real estate | (1,047 | ) | (2,244 | ) | (2,384 | ) | |||||
Total equity in earnings of equity method investments in real estate | 2,361 | 13,341 | 13,068 | ||||||||
Equity in earnings of equity method investments in the Managed Programs and real estate | $ | 23,229 | $ | 61,514 | $ | 64,750 |
Years Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
$ | (47,112) | $ | 0 | $ | 0 | ||||||||||||
33,009 | 0 | 0 | |||||||||||||||
7,225 | 21,489 | 46,609 | |||||||||||||||
Proportionate share of equity in (losses) earnings of equity method investments in the Managed Programs | (1,767) | 862 | 3,896 | ||||||||||||||
Amortization of basis differences on equity method investments in the Managed Programs | (895) | (1,483) | (2,332) | ||||||||||||||
Total equity in (losses) earnings of equity method investments in the Managed Programs | (9,540) | 20,868 | 48,173 | ||||||||||||||
(8,276) | 0 | 0 | |||||||||||||||
Equity in earnings of equity method investments in real estate | 9 | 3,408 | 15,585 | ||||||||||||||
Amortization of basis differences on equity method investments in real estate | (750) | (1,047) | (2,244) | ||||||||||||||
Total equity in (losses) earnings of equity method investments in real estate | (9,017) | 2,361 | 13,341 | ||||||||||||||
Equity in (losses) earnings of equity method investments in the Managed Programs and real estate | $ | (18,557) | $ | 23,229 | $ | 61,514 |
W. P. Carey |
% of Outstanding Shares Owned at | Carrying Amount of Investment at | |||||||||||||
December 31, | December 31, | |||||||||||||
Fund | 2019 | 2018 | 2019 | 2018 | ||||||||||
CPA:18 – Global (a) | 3.851 | % | 3.446 | % | $ | 42,644 | $ | 39,600 | ||||||
CPA:18 – Global operating partnership | 0.034 | % | 0.034 | % | 209 | 209 | ||||||||
CWI 1 (a) | 3.943 | % | 3.062 | % | 49,032 | 38,600 | ||||||||
CWI 1 operating partnership | 0.015 | % | 0.015 | % | 186 | 186 | ||||||||
CWI 2 (a) | 3.755 | % | 2.807 | % | 33,669 | 25,200 | ||||||||
CWI 2 operating partnership | 0.015 | % | 0.015 | % | 300 | 300 | ||||||||
CESH (b) | 2.430 | % | 2.430 | % | 3,527 | 3,495 | ||||||||
$ | 129,567 | $ | 107,590 |
% of Outstanding Shares Owned at | Carrying Amount of Investment at | |||||||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||||||
Fund | 2020 | 2019 | 2020 | 2019 | ||||||||||||||||||||||
CPA:18 – Global (a) | 4.569 | % | 3.851 | % | $ | 51,949 | $ | 42,644 | ||||||||||||||||||
CPA:18 – Global operating partnership | 0.034 | % | 0.034 | % | 209 | 209 | ||||||||||||||||||||
CWI 1 (b) (c) | 0 | % | 3.943 | % | 0 | 49,032 | ||||||||||||||||||||
CWI 1 operating partnership (b) | 0 | % | 0.015 | % | 0 | 186 | ||||||||||||||||||||
CWI 2 (b) (c) | 0 | % | 3.755 | % | 0 | 33,669 | ||||||||||||||||||||
CWI 2 operating partnership (b) | 0 | % | 0.015 | % | 0 | 300 | ||||||||||||||||||||
CESH (d) | 2.430 | % | 2.430 | % | 4,399 | 3,527 | ||||||||||||||||||||
$ | 56,557 | $ | 129,567 |
(a)During 2020, we received asset management revenue from CPA:18 – Global primarily in shares of its common stock, which increased our ownership percentage in CPA:18 – Global (Note 4). (c)We recognized other-than-temporary impairment charges on these investments during 2020, as described in Note 9. (d)Investment is accounted for at fair value. |
W. P. Carey |
December 31, | |||||||||||
2020 | 2019 | ||||||||||
Net investments in real estate | $ | 2,461,014 | $ | 5,288,318 | |||||||
Other assets | 259,531 | 959,938 | |||||||||
Total assets | 2,720,545 | 6,248,256 | |||||||||
Debt | (1,441,026) | (3,413,924) | |||||||||
Accounts payable, accrued expenses and other liabilities | (233,161) | (468,318) | |||||||||
Total liabilities | (1,674,187) | (3,882,242) | |||||||||
Noncontrolling interests | (55,921) | (130,656) | |||||||||
Stockholders’ equity | $ | 990,437 | $ | 2,235,358 |
December 31, | |||||||
2019 | 2018 | ||||||
Net investments in real estate | $ | 5,291,051 | $ | 5,417,770 | |||
Other assets | 959,358 | 1,019,783 | |||||
Total assets | 6,250,409 | 6,437,553 | |||||
Debt | (3,366,138 | ) | (3,474,126 | ) | |||
Accounts payable, accrued expenses and other liabilities | (517,803 | ) | (467,758 | ) | |||
Total liabilities | (3,883,941 | ) | (3,941,884 | ) | |||
Noncontrolling interests | (130,656 | ) | (146,799 | ) | |||
Stockholders’ equity | $ | 2,235,812 | $ | 2,348,870 |
Years Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Revenues | $ | 372,750 | $ | 1,184,585 | $ | 1,562,688 | |||||||||||
Expenses | (565,952) | (1,146,368) | (1,368,051) | ||||||||||||||
(Loss) income from continuing operations | $ | (193,202) | $ | 38,217 | $ | 194,637 | |||||||||||
Net (loss) income attributable to the Managed Programs | $ | (204,156) | $ | 8,051 | $ | 121,503 |
Years Ended December 31, | |||||||||||
2019 | 2018 | 2017 | |||||||||
Revenues | $ | 1,184,585 | $ | 1,562,688 | $ | 1,637,198 | |||||
Expenses | (1,142,286 | ) | (1,368,051 | ) | (1,456,842 | ) | |||||
Income from continuing operations | $ | 42,299 | $ | 194,637 | $ | 180,356 | |||||
Net income attributable to the Managed Programs (a) (b) | $ | 8,505 | $ | 121,503 | $ | 127,130 |
Ownership Interest at | Carrying Value at December 31, | |||||||||||
Lessee | Co-owner | December 31, 2019 | 2019 | 2018 | ||||||||
Johnson Self Storage (a) | Third Party | 90% | $ | 70,690 | $ | 73,475 | ||||||
Kesko Senukai (b) | Third Party | 70% | 46,475 | 52,432 | ||||||||
Bank Pekao (b) | CPA:18 – Global | 50% | 26,388 | 29,086 | ||||||||
BPS Nevada, LLC (c) | Third Party | 15% | 22,900 | 22,292 | ||||||||
State Farm Mutual Automobile Insurance Co. | CPA:18 – Global | 50% | 17,232 | 18,927 | ||||||||
Apply Sørco AS (d) (e) | CPA:18 – Global | 49% | 8,040 | 7,483 | ||||||||
Fortenova Grupa d.d. (formerly Konzum d.d.) (b) | CPA:18 – Global | 20% | 2,712 | 2,858 | ||||||||
Beach House JV, LLC (f) | Third Party | N/A | — | 15,105 | ||||||||
$ | 194,437 | $ | 221,658 |
Ownership Interest at | Carrying Value at December 31, | |||||||||||||||||||||||||
Lessee | Co-owner | December 31, 2020 | 2020 | 2019 | ||||||||||||||||||||||
Johnson Self Storage | Third Party | 90% | $ | 68,979 | $ | 70,690 | ||||||||||||||||||||
Kesko Senukai (a) | Third Party | 70% | 46,443 | 46,475 | ||||||||||||||||||||||
WLT (b) | WLT | 5% | 44,182 | 0 | ||||||||||||||||||||||
BPS Nevada, LLC (c) | Third Party | 15% | 23,815 | 22,900 | ||||||||||||||||||||||
Bank Pekao (a) (d) | CPA:18 – Global | 50% | 17,850 | 26,388 | ||||||||||||||||||||||
State Farm Mutual Automobile Insurance Co. | CPA:18 – Global | 50% | 15,475 | 17,232 | ||||||||||||||||||||||
Apply Sørco AS (e) | CPA:18 – Global | 49% | 7,156 | 8,040 | ||||||||||||||||||||||
Fortenova Grupa d.d. (a) | CPA:18 – Global | 20% | 2,989 | 2,712 | ||||||||||||||||||||||
$ | 226,889 | $ | 194,437 |
(a)The carrying value of this investment is affected by fluctuations in the exchange rate of the euro. |
W. P. Carey |
December 31, | |||||||||||
2020 | 2019 | ||||||||||
Net investments in real estate | $ | 3,716,901 | $ | 729,442 | |||||||
Other assets | 569,130 | 32,983 | |||||||||
Total assets | 4,286,031 | 762,425 | |||||||||
Debt | (2,631,588) | (455,876) | |||||||||
Accounts payable, accrued expenses and other liabilities | (509,221) | (32,049) | |||||||||
Total liabilities | (3,140,809) | (487,925) | |||||||||
Noncontrolling interests | (51,519) | 0 | |||||||||
Stockholders’ equity | $ | 1,093,703 | $ | 274,500 |
December 31, | |||||||
2019 | 2018 | ||||||
Net investments in real estate | $ | 729,442 | $ | 769,643 | |||
Other assets | 32,983 | 31,227 | |||||
Total assets | 762,425 | 800,870 | |||||
Debt | (455,876 | ) | (469,343 | ) | |||
Accounts payable, accrued expenses and other liabilities | (32,049 | ) | (28,648 | ) | |||
Total liabilities | (487,925 | ) | (497,991 | ) | |||
Stockholders’ equity | $ | 274,500 | $ | 302,879 |
Years Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Revenues | $ | 261,025 | $ | 66,608 | $ | 60,742 | |||||||||||
Expenses | (367,616) | (71,977) | (28,422) | ||||||||||||||
(Loss) income from continuing operations | $ | (106,591) | $ | (5,369) | $ | 32,320 | |||||||||||
Net (loss) income attributable to the jointly owned investments | $ | (98,625) | $ | (5,369) | $ | 32,320 |
Years Ended December 31, | |||||||||||
2019 | 2018 | 2017 | |||||||||
Revenues | $ | 66,608 | $ | 60,742 | $ | 57,377 | |||||
Expenses | (71,977 | ) | (28,422 | ) | (22,231 | ) | |||||
(Loss) income from continuing operations | $ | (5,369 | ) | $ | 32,320 | $ | 35,146 | ||||
Net (loss) income attributable to the jointly owned investments | $ | (5,369 | ) | $ | 32,320 | $ | 35,146 |
W. P. Carey 2020 10-K– 93 |
W. P. Carey 2020 10-K– 94 |
December 31, 2019 | December 31, 2018 | December 31, 2020 | December 31, 2019 | |||||||||||||||||||||||||||||||||||||||||||
Level | Carrying Value | Fair Value | Carrying Value | Fair Value | Level | Carrying Value | Fair Value | Carrying Value | Fair Value | |||||||||||||||||||||||||||||||||||||
Senior Unsecured Notes, net (a) (b) (c) | 2 | $ | 4,390,189 | $ | 4,682,432 | $ | 3,554,470 | $ | 3,567,593 | Senior Unsecured Notes, net (a) (b) (c) | 2 | $ | 5,146,192 | $ | 5,639,586 | $ | 4,390,189 | $ | 4,682,432 | |||||||||||||||||||||||||||
Non-recourse mortgages, net (a) (b) (d) | 3 | 1,462,487 | 1,487,892 | 2,732,658 | 2,737,861 | Non-recourse mortgages, net (a) (b) (d) | 3 | 1,145,554 | 1,148,551 | 1,462,487 | 1,487,892 |
(d)We determined the estimated fair value of our non-recourse mortgage loans using a discounted cash flow model that estimates the present value of the future loan payments by discounting such payments at current estimated market interest rates. The estimated market interest rates consider interest rate risk and the value of the underlying collateral, which includes quality of the collateral, the credit quality of the tenant/obligor, and the time until maturity. |
Years Ended December 31, | |||||||||||||||||||||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||||||||||||||||||||
Fair Value Measurements | Total Impairment Charges | Fair Value Measurements | Total Impairment Charges | Fair Value Measurements | Total Impairment Charges | ||||||||||||||||||||||||||||||
Impairment Charges | |||||||||||||||||||||||||||||||||||
Equity investments in the Managed Programs and real estate | $ | 55,245 | $ | 55,387 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||||||||||||||||
Land, buildings and improvements and intangibles | 31,350 | 35,830 | 1,012 | 1,345 | 7,797 | 4,790 | |||||||||||||||||||||||||||||
Net investments in direct financing leases | 0 | 0 | 33,115 | 31,194 | 0 | 0 | |||||||||||||||||||||||||||||
$ | 91,217 | $ | 32,539 | $ | 4,790 |
Year Ended December 31, 2019 | Year Ended December 31, 2018 | Year Ended December 31, 2017 | |||||||||||||||||||||
Fair Value Measurements | Total Impairment Charges | Fair Value Measurements | Total Impairment Charges | Fair Value Measurements | Total Impairment Charges | ||||||||||||||||||
Impairment Charges | |||||||||||||||||||||||
Net investments in direct financing leases | $ | 33,115 | $ | 31,194 | $ | — | $ | — | $ | — | $ | — | |||||||||||
Land, buildings and improvements and intangibles | 1,012 | 1,345 | 7,797 | 4,790 | 2,914 | 2,769 | |||||||||||||||||
$ | 32,539 | $ | 4,790 | $ | 2,769 |
W. P. Carey 2020 10-K– 95 |
W. P. Carey 2020 10-K– 96 |
W. P. Carey 2020 10-K– 97 |
Derivatives Designated as Hedging Instruments | Balance Sheet Location | Asset Derivatives Fair Value at | Liability Derivatives Fair Value at | |||||||||||||||||||||||||||||
December 31, 2020 | December 31, 2019 | December 31, 2020 | December 31, 2019 | |||||||||||||||||||||||||||||
Foreign currency collars | Other assets, net | $ | 3,489 | $ | 14,460 | $ | — | $ | — | |||||||||||||||||||||||
Foreign currency forward contracts | Other assets, net | 0 | 9,689 | — | — | |||||||||||||||||||||||||||
Interest rate caps | Other assets, net | 0 | 1 | — | — | |||||||||||||||||||||||||||
Interest rate swaps | Accounts payable, accrued expenses and other liabilities | — | — | (5,859) | (4,494) | |||||||||||||||||||||||||||
Foreign currency collars | Accounts payable, accrued expenses and other liabilities | — | — | (15,122) | (1,587) | |||||||||||||||||||||||||||
3,489 | 24,150 | (20,981) | (6,081) | |||||||||||||||||||||||||||||
Derivatives Not Designated as Hedging Instruments | ||||||||||||||||||||||||||||||||
Stock warrants | Other assets, net | 5,800 | 5,000 | — | — | |||||||||||||||||||||||||||
Interest rate swap | Other assets, net | 0 | 8 | — | — | |||||||||||||||||||||||||||
Interest rate swaps | Accounts payable, accrued expenses and other liabilities | — | — | 0 | (93) | |||||||||||||||||||||||||||
5,800 | 5,008 | 0 | (93) | |||||||||||||||||||||||||||||
Total derivatives | $ | 9,289 | $ | 29,158 | $ | (20,981) | $ | (6,174) |
Derivatives Designated as Hedging Instruments | Balance Sheet Location | Asset Derivatives Fair Value at | Liability Derivatives Fair Value at | |||||||||||||||
December 31, 2019 | December 31, 2018 | December 31, 2019 | December 31, 2018 | |||||||||||||||
Foreign currency collars | Other assets, net | $ | 14,460 | $ | 8,536 | $ | — | $ | — | |||||||||
Foreign currency forward contracts | Other assets, net | 9,689 | 22,520 | — | — | |||||||||||||
Interest rate caps | Other assets, net | 1 | 56 | — | — | |||||||||||||
Interest rate swaps | Other assets, net | — | 1,435 | — | — | |||||||||||||
Interest rate swaps | Accounts payable, accrued expenses and other liabilities | — | — | (4,494 | ) | (3,387 | ) | |||||||||||
Foreign currency collars | Accounts payable, accrued expenses and other liabilities | — | — | (1,587 | ) | (1,679 | ) | |||||||||||
24,150 | 32,547 | (6,081 | ) | (5,066 | ) | |||||||||||||
Derivatives Not Designated as Hedging Instruments | ||||||||||||||||||
Stock warrants | Other assets, net | 5,000 | 5,500 | — | — | |||||||||||||
Interest rate swap (a) | Other assets, net | 8 | — | — | — | |||||||||||||
Foreign currency forward contracts | Other assets, net | — | 7,144 | — | — | |||||||||||||
Interest rate swaps (a) | Accounts payable, accrued expenses and other liabilities | — | — | (93 | ) | (343 | ) | |||||||||||
5,008 | 12,644 | (93 | ) | (343 | ) | |||||||||||||
Total derivatives | $ | 29,158 | $ | 45,191 | $ | (6,174 | ) | $ | (5,409 | ) |
Amount of Gain (Loss) Recognized on Derivatives in Other Comprehensive (Loss) Income (a) | ||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||
Derivatives in Cash Flow Hedging Relationships | 2020 | 2019 | 2018 | |||||||||||||||||
Foreign currency collars | $ | (24,818) | $ | 5,997 | $ | 9,029 | ||||||||||||||
Foreign currency forward contracts | (5,272) | (4,253) | (1,905) | |||||||||||||||||
Interest rate swaps | (1,553) | (1,666) | (1,560) | |||||||||||||||||
Interest rate caps | 6 | 219 | (68) | |||||||||||||||||
Derivatives in Net Investment Hedging Relationships (b) | ||||||||||||||||||||
Foreign currency collars | 9 | 10 | 0 | |||||||||||||||||
Foreign currency forward contracts | 0 | 7 | (2,630) | |||||||||||||||||
Total | $ | (31,628) | $ | 314 | $ | 2,866 |
Amount of Gain (Loss) Recognized on Derivatives in Other Comprehensive (Loss) Income (a) | ||||||||||||||||||||||||||||||||||||||
Years Ended December 31, | Amount of Gain (Loss) on Derivatives Reclassified from Other Comprehensive (Loss) Income | |||||||||||||||||||||||||||||||||||||
Derivatives in Cash Flow Hedging Relationships | 2019 | 2018 | 2017 | Derivatives in Cash Flow Hedging Relationships | Location of Gain (Loss) Recognized in Income | Years Ended December 31, | ||||||||||||||||||||||||||||||||
Derivatives in Cash Flow Hedging Relationships | 2020 | 2019 | 2018 | |||||||||||||||||||||||||||||||||||
Foreign currency forward contracts | Other gains and (losses) | $ | 5,716 | $ | 9,582 | $ | 6,533 | |||||||||||||||||||||||||||||||
Foreign currency collars | $ | 5,997 | $ | 9,029 | $ | (19,220 | ) | Foreign currency collars | Other gains and (losses) | 4,956 | 5,759 | 2,359 | ||||||||||||||||||||||||||
Foreign currency forward contracts | (4,253 | ) | (1,905 | ) | (19,120 | ) | ||||||||||||||||||||||||||||||||
Interest rate swaps | (1,666 | ) | (1,560 | ) | 1,550 | |||||||||||||||||||||||||||||||||
Interest rate caps | 219 | (68 | ) | (29 | ) | |||||||||||||||||||||||||||||||||
Derivatives in Net Investment Hedging Relationships (b) | ||||||||||||||||||||||||||||||||||||||
Foreign currency collars | 10 | — | — | |||||||||||||||||||||||||||||||||||
Foreign currency forward contracts | 7 | (2,630 | ) | (5,652 | ) | |||||||||||||||||||||||||||||||||
Interest rate swaps and caps | Interest rate swaps and caps | Interest expense | (1,818) | (2,256) | (400) | |||||||||||||||||||||||||||||||||
Derivatives in Net Investment Hedging Relationships | Derivatives in Net Investment Hedging Relationships | |||||||||||||||||||||||||||||||||||||
Foreign currency forward contracts (c) | Foreign currency forward contracts (c) | Gain on sale of real estate, net | 0 | 0 | 7,609 | |||||||||||||||||||||||||||||||||
Total | $ | 314 | $ | 2,866 | $ | (42,471 | ) | Total | $ | 8,854 | $ | 13,085 | $ | 16,101 |
W. P. Carey |
Amount of Gain (Loss) on Derivatives Reclassified from Other Comprehensive (Loss) Income | ||||||||||||||
Derivatives in Cash Flow Hedging Relationships | Location of Gain (Loss) Recognized in Income | Years Ended December 31, | ||||||||||||
2019 | 2018 | 2017 | ||||||||||||
Foreign currency forward contracts | Other gains and (losses) | $ | 9,582 | $ | 6,533 | $ | 6,845 | |||||||
Foreign currency collars | Other gains and (losses) | 5,759 | 2,359 | 3,650 | ||||||||||
Interest rate swaps and caps | Interest expense | (2,256 | ) | (400 | ) | (1,294 | ) | |||||||
Derivatives in Net Investment Hedging Relationships | ||||||||||||||
Foreign currency forward contracts (c) | Gain on sale of real estate, net | — | 7,609 | — | ||||||||||
Total | $ | 13,085 | $ | 16,101 | $ | 9,201 |
Amount of Gain (Loss) on Derivatives Recognized in Income | ||||||||||||||||||||||||||
Derivatives Not in Cash Flow Hedging Relationships | Location of Gain (Loss) Recognized in Income | Years Ended December 31, | ||||||||||||||||||||||||
2020 | 2019 | 2018 | ||||||||||||||||||||||||
Foreign currency collars | Other gains and (losses) | $ | (2,477) | $ | 184 | $ | 455 | |||||||||||||||||||
Stock warrants | Other gains and (losses) | 800 | (500) | (99) | ||||||||||||||||||||||
Interest rate swaps | Other gains and (losses) | 106 | (118) | (20) | ||||||||||||||||||||||
Foreign currency forward contracts | Other gains and (losses) | (43) | 575 | 356 | ||||||||||||||||||||||
Interest rate swaps | Interest expense | 0 | 265 | 0 | ||||||||||||||||||||||
Derivatives in Cash Flow Hedging Relationships | ||||||||||||||||||||||||||
Interest rate swaps | Interest expense | 2,132 | (941) | 286 | ||||||||||||||||||||||
Interest rate caps | Interest expense | 0 | (220) | 0 | ||||||||||||||||||||||
Foreign currency forward contracts | Other gains and (losses) | 0 | (132) | 132 | ||||||||||||||||||||||
Foreign currency collars | Other gains and (losses) | 0 | 7 | 18 | ||||||||||||||||||||||
Total | $ | 518 | $ | (880) | $ | 1,128 |
Amount of Gain (Loss) on Derivatives Recognized in Income | ||||||||||||||
Derivatives Not in Cash Flow Hedging Relationships | Location of Gain (Loss) Recognized in Income | Years Ended December 31, | ||||||||||||
2019 | 2018 | 2017 | ||||||||||||
Foreign currency forward contracts | Other gains and (losses) | $ | 575 | $ | 356 | $ | (53 | ) | ||||||
Stock warrants | Other gains and (losses) | (500 | ) | (99 | ) | (67 | ) | |||||||
Interest rate swaps | Interest expense | 265 | — | — | ||||||||||
Foreign currency collars | Other gains and (losses) | 184 | 455 | (754 | ) | |||||||||
Interest rate swaps | Other gains and (losses) | (118 | ) | (20 | ) | 18 | ||||||||
Derivatives in Cash Flow Hedging Relationships | ||||||||||||||
Interest rate swaps | Interest expense | (941 | ) | 286 | 693 | |||||||||
Interest rate caps | Interest expense | (220 | ) | — | — | |||||||||
Foreign currency forward contracts | Other gains and (losses) | (132 | ) | 132 | (75 | ) | ||||||||
Foreign currency collars | Other gains and (losses) | 7 | 18 | (32 | ) | |||||||||
Total | $ | (880 | ) | $ | 1,128 | $ | (270 | ) |
W. P. Carey 2020 10-K– 99 |
Interest Rate Derivatives | Number of Instruments | Notional Amount | Fair Value at December 31, 2019 (a) | Interest Rate Derivatives | Number of Instruments | Notional Amount | Fair Value at December 31, 2020 (a) | ||||||||||||||||||||||||||
Designated as Cash Flow Hedging Instruments | Designated as Cash Flow Hedging Instruments | ||||||||||||||||||||||||||||||||
Interest rate swaps | 5 | 76,028 | USD | $ | (3,122 | ) | Interest rate swaps | 5 | 73,907 | USD | $ | (4,255) | |||||||||||||||||||||
Interest rate swaps | 2 | 49,655 | EUR | (1,372 | ) | Interest rate swaps | 2 | 48,427 | EUR | (1,604) | |||||||||||||||||||||||
Interest rate cap | 1 | 11,388 | EUR | 1 | Interest rate cap | 1 | 11,076 | EUR | 0 | ||||||||||||||||||||||||
Interest rate cap | 1 | 6,394 | GBP | — | Interest rate cap | 1 | 6,394 | GBP | 0 | ||||||||||||||||||||||||
Not Designated as Hedging Instruments | |||||||||||||||||||||||||||||||||
Interest rate swap (b) | 1 | 4,608 | EUR | (93 | ) | ||||||||||||||||||||||||||||
Interest rate swap (b) | 1 | 7,750 | USD | 8 | |||||||||||||||||||||||||||||
$ | (4,578 | ) | $ | (5,859) |
Foreign Currency Derivatives | Number of Instruments | Notional Amount | Fair Value at December 31, 2020 | ||||||||||||||||||||
Designated as Cash Flow Hedging Instruments | |||||||||||||||||||||||
Foreign currency collars | 104 | 335,500 | EUR | $ | (9,677) | ||||||||||||||||||
Foreign currency collars | 83 | 47,300 | GBP | (1,956) | |||||||||||||||||||
$ | (11,633) |
Foreign Currency Derivatives | Number of Instruments | Notional Amount | Fair Value at December 31, 2019 | |||||||
Designated as Cash Flow Hedging Instruments | ||||||||||
Foreign currency collars | 86 | 277,624 | EUR | $ | 11,696 | |||||
Foreign currency forward contracts | 10 | 30,376 | EUR | 9,671 | ||||||
Foreign currency collars | 61 | 44,000 | GBP | 1,162 | ||||||
Foreign currency forward contract | 1 | 729 | NOK | 18 | ||||||
Foreign currency collars | 3 | 2,000 | NOK | 7 | ||||||
Designated as Net Investment Hedging Instruments | ||||||||||
Foreign currency collar | 1 | 2,500 | NOK | 8 | ||||||
$ | 22,562 |
W. P. Carey 2020 10-K– 100 |
Interest Rate at December 31, 2019 (a) | Maturity Date at December 31, 2019 | Principal Outstanding Balance at December 31, | ||||||||||
Senior Unsecured Credit Facility | 2019 | 2018 | ||||||||||
Unsecured Revolving Credit Facility: (b) | ||||||||||||
Unsecured Revolving Credit Facility — borrowing in euros (c) | EURIBOR + 1.00% | 2/22/2021 | $ | 131,438 | $ | 69,273 | ||||||
Unsecured revolving credit facility — borrowing in British pounds sterling | GBP LIBOR + 1.00% | 2/22/2021 | 47,534 | — | ||||||||
Unsecured Revolving Credit Facility — borrowing in Japanese yen | JPY LIBOR + 1.00% | 2/22/2021 | 22,295 | 22,290 | ||||||||
$ | 201,267 | $ | 91,563 |
Interest Rate at December 31, 2020 (a) | Maturity Date at December 31, 2020 | Principal Outstanding Balance at December 31, | ||||||||||||||||||||||||
Senior Unsecured Credit Facility | 2020 | 2019 | ||||||||||||||||||||||||
Unsecured Term Loans: | ||||||||||||||||||||||||||
Term Loan — borrowing in British pounds sterling (b) | GBP LIBOR + 0.95% | 2/20/2025 | $ | 204,737 | $ | 0 | ||||||||||||||||||||
Delayed Draw Term Loan — borrowing in euros (c) | EURIBOR + 0.95% | 2/20/2025 | 118,415 | 0 | ||||||||||||||||||||||
323,152 | 0 | |||||||||||||||||||||||||
Unsecured Revolving Credit Facility: | ||||||||||||||||||||||||||
Borrowing in euros | EURIBOR + 0.85% | 2/20/2025 | 58,901 | 131,438 | ||||||||||||||||||||||
Borrowing in Japanese yen | JPY LIBOR + 0.85% | 2/20/2025 | 23,380 | 22,295 | ||||||||||||||||||||||
Borrowing in British pounds sterling | N/A | N/A | 0 | 47,534 | ||||||||||||||||||||||
82,281 | 201,267 | |||||||||||||||||||||||||
$ | 405,433 | $ | 201,267 |
Principal Amount | Price of Par Value | Original Issue Discount | Effective Interest Rate | Coupon Rate | Maturity Date | Principal Outstanding Balance at December 31, | |||||||||||||||||||||||
Senior Unsecured Notes, net (a) | Issue Date | 2019 | 2018 | ||||||||||||||||||||||||||
2.0% Senior Notes due 2023 | 1/21/2015 | € | 500.0 | 99.220 | % | $ | 4.6 | 2.107 | % | 2.0 | % | 1/20/2023 | $ | 561.7 | $ | 572.5 | |||||||||||||
4.6% Senior Notes due 2024 | 3/14/2014 | $ | 500.0 | 99.639 | % | $ | 1.8 | 4.645 | % | 4.6 | % | 4/1/2024 | 500.0 | 500.0 | |||||||||||||||
2.25% Senior Notes due 2024 | 1/19/2017 | € | 500.0 | 99.448 | % | $ | 2.9 | 2.332 | % | 2.25 | % | 7/19/2024 | 561.7 | 572.5 | |||||||||||||||
4.0% Senior Notes due 2025 | 1/26/2015 | $ | 450.0 | 99.372 | % | $ | 2.8 | 4.077 | % | 4.0 | % | 2/1/2025 | 450.0 | 450.0 | |||||||||||||||
2.250% Senior Notes due 2026 | 10/9/2018 | € | 500.0 | 99.252 | % | $ | 4.3 | 2.361 | % | 2.250 | % | 4/9/2026 | 561.7 | 572.5 | |||||||||||||||
4.25% Senior Notes due 2026 | 9/12/2016 | $ | 350.0 | 99.682 | % | $ | 1.1 | 4.290 | % | 4.25 | % | 10/1/2026 | 350.0 | 350.0 | |||||||||||||||
2.125% Senior Notes due 2027 | 3/6/2018 | € | 500.0 | 99.324 | % | $ | 4.2 | 2.208 | % | 2.125 | % | 4/15/2027 | 561.7 | 572.5 | |||||||||||||||
1.350% Senior Notes due 2028 | 9/19/2019 | € | 500.0 | 99.266 | % | $ | 4.1 | 1.442 | % | 1.350 | % | 4/15/2028 | 561.7 | — | |||||||||||||||
3.850% Senior Notes due 2029 | 6/14/2019 | $ | 325.0 | 98.876 | % | $ | 3.7 | 3.986 | % | 3.850 | % | 7/15/2029 | 325.0 | — | |||||||||||||||
$ | 4,433.5 | $ | 3,590.0 |
Principal Amount | Price of Par Value | Original Issue Discount | Effective Interest Rate | Coupon Rate | Maturity Date | Principal Outstanding Balance at December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Unsecured Notes, net (a) | Issue Date | 2020 | 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
2.0% Senior Notes due 2023 | 1/21/2015 | € | 500.0 | 99.220 | % | $ | 4.6 | 2.107 | % | 2.0 | % | 1/20/2023 | $ | 613.5 | $ | 561.7 | ||||||||||||||||||||||||||||||||||||||||
4.6% Senior Notes due 2024 | 3/14/2014 | $ | 500.0 | 99.639 | % | $ | 1.8 | 4.645 | % | 4.6 | % | 4/1/2024 | 500.0 | 500.0 | ||||||||||||||||||||||||||||||||||||||||||
2.25% Senior Notes due 2024 | 1/19/2017 | € | 500.0 | 99.448 | % | $ | 2.9 | 2.332 | % | 2.25 | % | 7/19/2024 | 613.5 | 561.7 | ||||||||||||||||||||||||||||||||||||||||||
4.0% Senior Notes due 2025 | 1/26/2015 | $ | 450.0 | 99.372 | % | $ | 2.8 | 4.077 | % | 4.0 | % | 2/1/2025 | 450.0 | 450.0 | ||||||||||||||||||||||||||||||||||||||||||
2.250% Senior Notes due 2026 | 10/9/2018 | € | 500.0 | 99.252 | % | $ | 4.3 | 2.361 | % | 2.250 | % | 4/9/2026 | 613.5 | 561.7 | ||||||||||||||||||||||||||||||||||||||||||
4.25% Senior Notes due 2026 | 9/12/2016 | $ | 350.0 | 99.682 | % | $ | 1.1 | 4.290 | % | 4.25 | % | 10/1/2026 | 350.0 | 350.0 | ||||||||||||||||||||||||||||||||||||||||||
2.125% Senior Notes due 2027 | 3/6/2018 | € | 500.0 | 99.324 | % | $ | 4.2 | 2.208 | % | 2.125 | % | 4/15/2027 | 613.5 | 561.7 | ||||||||||||||||||||||||||||||||||||||||||
1.350% Senior Notes due 2028 | 9/19/2019 | € | 500.0 | 99.266 | % | $ | 4.1 | 1.442 | % | 1.350 | % | 4/15/2028 | 613.5 | 561.7 | ||||||||||||||||||||||||||||||||||||||||||
3.850% Senior Notes due 2029 | 6/14/2019 | $ | 325.0 | 98.876 | % | $ | 3.7 | 3.986 | % | 3.850 | % | 7/15/2029 | 325.0 | 325.0 | ||||||||||||||||||||||||||||||||||||||||||
2.400% Senior Notes due 2031 | 10/14/2020 | $ | 500.0 | 99.099 | % | $ | 4.5 | 2.500 | % | 2.400 | % | 2/1/2031 | 500.0 | 0 | ||||||||||||||||||||||||||||||||||||||||||
$ | 5,192.5 | $ | 4,433.5 |
W. P. Carey 2020 10-K– 102 |
W. P. Carey 2020 10-K– 103 |
Years Ending December 31, | Total (a) | Years Ending December 31, | Total (a) | |||||||||
2020 | $ | 164,682 | ||||||||||
2021 | 445,469 | 2021 | $ | 90,624 | ||||||||
2022 | 460,385 | 2022 | 447,575 | |||||||||
2023 | 900,288 | 2023 | 962,106 | |||||||||
2024 | 1,184,007 | 2024 | 1,235,444 | |||||||||
2025 | 2025 | 955,767 | ||||||||||
Thereafter through 2031 | 2,949,186 | Thereafter through 2031 | 3,057,090 | |||||||||
Total principal payments | 6,104,017 | Total principal payments | 6,748,606 | |||||||||
Unamortized discount, net (b) | (26,679 | ) | Unamortized discount, net (b) | (28,279) | ||||||||
Unamortized deferred financing costs | (23,395 | ) | Unamortized deferred financing costs | (24,329) | ||||||||
Total | $ | 6,053,943 | Total | $ | 6,695,998 |
Dividends Paid | |||||||||||
During the Years Ended December 31, | |||||||||||
2019 | 2018 | 2017 | |||||||||
Ordinary income | $ | 3.1939 | $ | 3.5122 | $ | 3.2537 | |||||
Return of capital | 0.9194 | — | 0.5182 | ||||||||
Capital gains | 0.0187 | 0.5578 | 0.2181 | ||||||||
Total dividends paid (a) | $ | 4.1320 | $ | 4.0700 | $ | 3.9900 |
Dividends Paid | |||||||||||||||||
During the Years Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Ordinary income | $ | 3.3112 | $ | 3.1939 | $ | 3.5122 | |||||||||||
Capital gains | 0.8528 | 0.0187 | 0.5578 | ||||||||||||||
Return of capital | 0 | 0.9194 | 0 | ||||||||||||||
Total dividends paid (a) | $ | 4.1640 | $ | 4.1320 | $ | 4.0700 |
W. P. Carey |
Years Ended December 31, | |||||||||||
2019 | 2018 | 2017 | |||||||||
Net income attributable to W. P. Carey | $ | 305,243 | $ | 411,566 | $ | 277,289 | |||||
Net income attributable to nonvested participating RSUs | (77 | ) | (340 | ) | (784 | ) | |||||
Net income – basic and diluted | $ | 305,166 | $ | 411,226 | $ | 276,505 | |||||
Weighted-average shares outstanding – basic | 171,001,430 | 117,494,969 | 107,824,738 | ||||||||
Effect of dilutive securities | 297,984 | 211,476 | 211,233 | ||||||||
Weighted-average shares outstanding – diluted | 171,299,414 | 117,706,445 | 108,035,971 |
Years Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Net income attributable to W. P. Carey | $ | 455,359 | $ | 305,243 | $ | 411,566 | |||||||||||
Net income attributable to nonvested participating RSUs | 0 | (77) | (340) | ||||||||||||||
Net income – basic and diluted | $ | 455,359 | $ | 305,166 | $ | 411,226 | |||||||||||
Weighted-average shares outstanding – basic | 174,504,406 | 171,001,430 | 117,494,969 | ||||||||||||||
Effect of dilutive securities | 335,022 | 297,984 | 211,476 | ||||||||||||||
Weighted-average shares outstanding – diluted | 174,839,428 | 171,299,414 | 117,706,445 |
W. P. Carey |
W. P. Carey |
Gains and (Losses) on Derivative Instruments | Foreign Currency Translation Adjustments | Gains and (Losses) on Investments | Total | ||||||||||||||||||||
Balance at January 1, 2018 | $ | 9,172 | $ | (245,022) | $ | (161) | $ | (236,011) | |||||||||||||||
Other comprehensive loss before reclassifications | 13,415 | (52,069) | 154 | (38,500) | |||||||||||||||||||
Amounts reclassified from accumulated other comprehensive loss to: | |||||||||||||||||||||||
0 | 20,226 | 0 | 20,226 | ||||||||||||||||||||
Other gains and (losses) | (8,892) | 0 | 0 | (8,892) | |||||||||||||||||||
Interest expense | 400 | 0 | 0 | 400 | |||||||||||||||||||
Total | (8,492) | 20,226 | 0 | 11,734 | |||||||||||||||||||
Net current period other comprehensive loss | 4,923 | (31,843) | 154 | (26,766) | |||||||||||||||||||
Net current period other comprehensive loss attributable to noncontrolling interests | 7 | 7,774 | 0 | 7,781 | |||||||||||||||||||
Balance at December 31, 2018 | 14,102 | (269,091) | (7) | (254,996) | |||||||||||||||||||
Other comprehensive income before reclassifications | 12,031 | 376 | 7 | 12,414 | |||||||||||||||||||
Amounts reclassified from accumulated other comprehensive loss to: | |||||||||||||||||||||||
Other gains and (losses) | (15,341) | 0 | 0 | (15,341) | |||||||||||||||||||
Interest expense | 2,256 | 0 | 0 | 2,256 | |||||||||||||||||||
Total | (13,085) | 0 | 0 | (13,085) | |||||||||||||||||||
Net current period other comprehensive loss | (1,054) | 376 | 7 | (671) | |||||||||||||||||||
Balance at December 31, 2019 | 13,048 | (268,715) | 0 | (255,667) | |||||||||||||||||||
Other comprehensive income before reclassifications | (23,124) | 47,746 | 0 | 24,622 | |||||||||||||||||||
Amounts reclassified from accumulated other comprehensive loss to: | |||||||||||||||||||||||
Other gains and (losses) | (10,672) | 0 | 0 | (10,672) | |||||||||||||||||||
Interest expense | 1,818 | 0 | 0 | 1,818 | |||||||||||||||||||
Total | (8,854) | 0 | 0 | (8,854) | |||||||||||||||||||
Net current period other comprehensive income | (31,978) | 47,746 | 0 | 15,768 | |||||||||||||||||||
Net current period other comprehensive income attributable to noncontrolling interests | (7) | 0 | 0 | (7) | |||||||||||||||||||
Balance at December 31, 2020 | $ | (18,937) | $ | (220,969) | $ | 0 | $ | (239,906) |
Gains and (Losses) on Derivative Instruments | Foreign Currency Translation Adjustments | Gains and (Losses) on Investments | Total | ||||||||||||
Balance at January 1, 2017 | $ | 46,935 | $ | (301,330 | ) | $ | (90 | ) | $ | (254,485 | ) | ||||
Other comprehensive income before reclassifications | (28,577 | ) | 69,040 | (71 | ) | 40,392 | |||||||||
Amounts reclassified from accumulated other comprehensive loss to: | |||||||||||||||
— | 3,388 | — | 3,388 | ||||||||||||
Other gains and (losses) | (10,495 | ) | — | — | (10,495 | ) | |||||||||
Interest expense | 1,294 | — | — | 1,294 | |||||||||||
Total | (9,201 | ) | 3,388 | — | (5,813 | ) | |||||||||
Net current period other comprehensive income | (37,778 | ) | 72,428 | (71 | ) | 34,579 | |||||||||
Net current period other comprehensive income attributable to noncontrolling interests | 15 | (16,120 | ) | — | (16,105 | ) | |||||||||
Balance at December 31, 2017 | 9,172 | (245,022 | ) | (161 | ) | (236,011 | ) | ||||||||
Other comprehensive loss before reclassifications | 13,415 | (52,069 | ) | 154 | (38,500 | ) | |||||||||
Amounts reclassified from accumulated other comprehensive loss to: | |||||||||||||||
— | 20,226 | — | 20,226 | ||||||||||||
Other gains and (losses) | (8,892 | ) | — | — | (8,892 | ) | |||||||||
Interest expense | 400 | — | — | 400 | |||||||||||
Total | (8,492 | ) | 20,226 | — | 11,734 | ||||||||||
Net current period other comprehensive loss | 4,923 | (31,843 | ) | 154 | (26,766 | ) | |||||||||
Net current period other comprehensive loss attributable to noncontrolling interests | 7 | 7,774 | — | 7,781 | |||||||||||
Balance at December 31, 2018 | 14,102 | (269,091 | ) | (7 | ) | (254,996 | ) | ||||||||
Other comprehensive income before reclassifications | 12,031 | 376 | 7 | 12,414 | |||||||||||
Amounts reclassified from accumulated other comprehensive loss to: | |||||||||||||||
Other gains and (losses) | (15,341 | ) | — | — | (15,341 | ) | |||||||||
Interest expense | 2,256 | — | — | 2,256 | |||||||||||
Total | (13,085 | ) | — | — | (13,085 | ) | |||||||||
Net current period other comprehensive loss | (1,054 | ) | 376 | 7 | (671 | ) | |||||||||
Balance at December 31, 2019 | $ | 13,048 | $ | (268,715 | ) | $ | — | $ | (255,667 | ) |
W. P. Carey |
W. P. Carey |
RSA and RSU Awards | PSU Awards | ||||||||||||||||||||||
Shares | Weighted-Average Grant Date Fair Value | Shares | Weighted-Average Grant Date Fair Value | ||||||||||||||||||||
Nonvested at January 1, 2018 | 324,339 | $ | 61.43 | 281,299 | $ | 74.57 | |||||||||||||||||
Granted | 137,519 | 64.50 | 75,864 | 75.81 | |||||||||||||||||||
Vested (a) | (181,777) | 62.25 | (66,632) | 76.96 | |||||||||||||||||||
Forfeited | (3,079) | 61.71 | (3,098) | 76.49 | |||||||||||||||||||
Adjustment (b) | 0 | 0 | 43,783 | 74.17 | |||||||||||||||||||
Nonvested at December 31, 2018 | 277,002 | 62.41 | 331,216 | 78.82 | |||||||||||||||||||
Granted | 163,447 | 72.86 | 84,006 | 92.16 | |||||||||||||||||||
Vested (a) | (152,364) | 62.11 | (403,701) | 74.04 | |||||||||||||||||||
Forfeited | (4,108) | 68.10 | (2,829) | 75.81 | |||||||||||||||||||
Adjustment (b) | 0 | 0 | 322,550 | 77.69 | |||||||||||||||||||
Nonvested at December 31, 2019 | 283,977 | 68.51 | 331,242 | 80.90 | |||||||||||||||||||
Granted (c) | 146,162 | 81.02 | 90,518 | 104.65 | |||||||||||||||||||
Vested (a) | (163,607) | 69.62 | (156,838) | 80.42 | |||||||||||||||||||
Forfeited | (5,555) | 71.69 | (6,715) | 88.94 | |||||||||||||||||||
Adjustment (b) | 0 | 0 | 3,806 | 62.07 | |||||||||||||||||||
Nonvested at December 31, 2020 (d) | 260,977 | $ | 74.75 | 262,013 | $ | 88.99 |
RSA and RSU Awards | PSU Awards | ||||||||||||
Shares | Weighted-Average Grant Date Fair Value | Shares | Weighted-Average Grant Date Fair Value | ||||||||||
Nonvested at January 1, 2017 | 356,865 | $ | 61.63 | 310,018 | $ | 73.80 | |||||||
Granted | 194,349 | 62.22 | 107,934 | 75.39 | |||||||||
Vested (a) | (185,259 | ) | 62.72 | (132,412 | ) | 74.21 | |||||||
Forfeited | (41,616 | ) | 61.08 | (45,258 | ) | 76.91 | |||||||
Adjustment (b) | — | — | 41,017 | 63.18 | |||||||||
Nonvested at December 31, 2017 | 324,339 | 61.43 | 281,299 | 74.57 | |||||||||
Granted | 137,519 | 64.50 | 75,864 | 75.81 | |||||||||
Vested (a) | (181,777 | ) | 62.25 | (66,632 | ) | 76.96 | |||||||
Forfeited | (3,079 | ) | 61.71 | (3,098 | ) | 76.49 | |||||||
Adjustment (b) | — | — | 43,783 | 74.17 | |||||||||
Nonvested at December 31, 2018 | 277,002 | 62.41 | 331,216 | 78.82 | |||||||||
Granted (c) | 163,447 | 72.86 | 84,006 | 92.16 | |||||||||
Vested (a) | (152,364 | ) | 62.11 | (403,701 | ) | 74.04 | |||||||
Forfeited | (4,108 | ) | 68.10 | (2,829 | ) | 75.81 | |||||||
Adjustment (b) | — | — | 322,550 | 77.69 | |||||||||
Nonvested at December 31, 2019 (d) | 283,977 | $ | 68.51 | 331,242 | $ | 80.90 |
W. P. Carey |
Years Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Federal | |||||||||||||||||
Current | $ | (1,118) | $ | 407 | $ | (829) | |||||||||||
Deferred (a) | (33,040) | 9,579 | 3,275 | ||||||||||||||
(34,158) | 9,986 | 2,446 | |||||||||||||||
State and Local | |||||||||||||||||
Current | 3,284 | (3,814) | 4,820 | ||||||||||||||
Deferred (a) | (7,756) | (376) | 3,042 | ||||||||||||||
(4,472) | (4,190) | 7,862 | |||||||||||||||
Foreign | |||||||||||||||||
Current | 26,137 | 20,363 | 16,791 | ||||||||||||||
Deferred | (8,266) | 52 | (12,688) | ||||||||||||||
17,871 | 20,415 | 4,103 | |||||||||||||||
Total (Benefit from) Provision for Income Taxes | $ | (20,759) | $ | 26,211 | $ | 14,411 |
Years Ended December 31, | |||||||||||
2019 | 2018 | 2017 | |||||||||
Federal | |||||||||||
Current | $ | 407 | $ | (829 | ) | $ | (687 | ) | |||
Deferred | 9,579 | 3,275 | (9,520 | ) | |||||||
9,986 | 2,446 | (10,207 | ) | ||||||||
State and Local | |||||||||||
Current | (3,814 | ) | 4,820 | 1,954 | |||||||
Deferred | (376 | ) | 3,042 | 572 | |||||||
(4,190 | ) | 7,862 | 2,526 | ||||||||
Foreign | |||||||||||
Current | 20,363 | 16,791 | 21,457 | ||||||||
Deferred | 52 | (12,688 | ) | (11,065 | ) | ||||||
20,415 | 4,103 | 10,392 | |||||||||
Total Provision | $ | 26,211 | $ | 14,411 | $ | 2,711 |
W. P. Carey 2020 10-K– 110 |
Years Ended December 31, | ||||||||||||||||||||||||||||
Years Ended December 31, | 2020 | 2019 | 2018 | |||||||||||||||||||||||||
2019 | 2018 | 2017 | ||||||||||||||||||||||||||
Pre-tax income attributable to taxable subsidiaries (a) | $ | 74,754 | $ | 98,245 | $ | 49,909 | ||||||||||||||||||||||
Federal provision at statutory tax rate (b) | $ | 15,698 | $ | 20,632 | $ | 17,468 | ||||||||||||||||||||||
Pre-tax (loss) income attributable to taxable subsidiaries (b) (c) (d) | Pre-tax (loss) income attributable to taxable subsidiaries (b) (c) (d) | $ | (56,789) | $ | 74,754 | $ | 98,245 | |||||||||||||||||||||
Federal provision at statutory tax rate (21%) | Federal provision at statutory tax rate (21%) | $ | (11,926) | $ | 15,698 | $ | 20,632 | |||||||||||||||||||||
Revocation of TRS Status (a) | Revocation of TRS Status (a) | (37,249) | 0 | (6,285) | ||||||||||||||||||||||||
Change in valuation allowance | 11,041 | 6,735 | 11,805 | Change in valuation allowance | 13,946 | 11,041 | 6,735 | |||||||||||||||||||||
Rate differential (c) | (6,820 | ) | (14,165 | ) | (13,134 | ) | ||||||||||||||||||||||
Tax expense related to allocation of goodwill based on portion of Investment Management business sold (Note 4) | Tax expense related to allocation of goodwill based on portion of Investment Management business sold (Note 4) | 7,203 | 0 | 0 | ||||||||||||||||||||||||
Non-deductible expense | 5,313 | 4,996 | 3,010 | Non-deductible expense | 6,303 | 5,313 | 4,996 | |||||||||||||||||||||
State and local taxes, net of federal benefit | State and local taxes, net of federal benefit | 2,336 | 4,062 | 7,590 | ||||||||||||||||||||||||
Windfall tax benefit | (5,183 | ) | (3,754 | ) | (4,618 | ) | Windfall tax benefit | (2,132) | (5,183) | (3,754) | ||||||||||||||||||
State and local taxes, net of federal benefit | 4,062 | 7,590 | 1,115 | |||||||||||||||||||||||||
Rate differential (e) | Rate differential (e) | (632) | (6,820) | (14,165) | ||||||||||||||||||||||||
Non-taxable income | 103 | (736 | ) | (8,073 | ) | Non-taxable income | (2) | 103 | (736) | |||||||||||||||||||
Revocation of TRS Status | — | (6,285 | ) | — | ||||||||||||||||||||||||
Revaluation of deferred taxes due to Tax Cuts and Jobs Act (d) | — | — | (7,826 | ) | ||||||||||||||||||||||||
Other | 1,997 | (602 | ) | 2,964 | Other | 1,394 | 1,997 | (602) | ||||||||||||||||||||
Total provision | $ | 26,211 | $ | 14,411 | $ | 2,711 | ||||||||||||||||||||||
Total (benefit from) provision for income taxes | Total (benefit from) provision for income taxes | $ | (20,759) | $ | 26,211 | $ | 14,411 |
(a)Amount for the year ended December 31, 2020 includes an aggregate deferred tax benefit of $37.2 million as a result of the release of a deferred tax liability relating to our investment in shares of Lineage Logistics (Note 9), which converted to a REIT during the year and is therefore no longer subject to federal and state income taxes (b)Pre-tax loss attributable to taxable subsidiaries for 2020 was primarily driven by: (i) a portion of the other-than-temporary impairment charges totaling $47.1 million recognized on our equity investments in CWI 1 and CWI 2 (Note 9), (ii) the allocation of $34.3 million of goodwill within our Investment Management segment as a result of the WLT management internalization (Note 4), and (iii) an impairment charge of $12.6 million recognized on an international property (Note 9). (c)Pre-tax income attributable to taxable subsidiaries for 2019 includes unrealized gains on our investment in shares of Lineage Logistics totaling $32.9 million (prior to its REIT conversion in 2020, as described below) (Note 9). (d)Pre-tax income attributable to taxable subsidiaries for 2018 includes taxable income associated with the accelerated vesting of shares previously issued by CPA:17 – Global to us for asset management services performed, in connection with the CPA:17 Merger. (e)Amount for the year ended December 31, 2019 includes a current tax benefit of approximately $6.3 million due to a change in tax position for state and local taxes. Benefit from income taxes for the year ended December 31, 2020 includes a deferred tax benefit of $6.3 million as a result of the other-than-temporary impairment charges that we recognized on our equity investments in CWI 1 and CWI 2 during the year (Note 9). In light of the COVID-19 outbreak during the first quarter of 2020, we continue to monitor domestic and international tax considerations and the potential impact on our consolidated financial statements. The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) (U.S. federal legislation enacted on March 27, 2020 in response to the COVID-19 pandemic) provides that net operating losses incurred in 2018, 2019, or 2020 may be carried back to offset taxable income earned during the five-year period prior to the year in which the net operating loss was incurred. As a result, we recognized a $4.7 million current tax benefit during the year ended December 31, 2020 by carrying back certain net operating losses, which is included in Benefit from income taxes disclosed in the tables above. |
W. P. Carey |
December 31, | |||||||||||
2020 | 2019 | ||||||||||
Deferred Tax Assets | |||||||||||
Net operating loss and other tax credit carryforwards | $ | 49,869 | $ | 51,265 | |||||||
Basis differences — foreign investments | 43,089 | 31,704 | |||||||||
Lease liabilities (a) | 14,144 | 1,472 | |||||||||
Unearned and deferred compensation | 9,753 | 10,345 | |||||||||
Other | 0 | 246 | |||||||||
Total deferred tax assets | 116,855 | 95,032 | |||||||||
Valuation allowance | (86,069) | (73,643) | |||||||||
Net deferred tax assets | 30,786 | 21,389 | |||||||||
Deferred Tax Liabilities | |||||||||||
Basis differences — foreign investments | (145,838) | (137,074) | |||||||||
ROU assets (a) | (12,618) | (1,163) | |||||||||
Basis differences — equity investees | (2,364) | (53,460) | |||||||||
Deferred revenue | (97) | (100) | |||||||||
Other | (632) | 0 | |||||||||
Total deferred tax liabilities | (161,549) | (191,797) | |||||||||
Net Deferred Tax Liability | $ | (130,763) | $ | (170,408) |
December 31, | |||||||
2019 | 2018 | ||||||
Deferred Tax Assets | |||||||
Net operating loss and other tax credit carryforwards | $ | 51,265 | $ | 44,445 | |||
Basis differences — foreign investments | 31,704 | 15,286 | |||||
Unearned and deferred compensation | 10,345 | 16,255 | |||||
Other | 555 | 640 | |||||
Total deferred tax assets | 93,869 | 76,626 | |||||
Valuation allowance | (73,643 | ) | (54,499 | ) | |||
Net deferred tax assets | 20,226 | 22,127 | |||||
Deferred Tax Liabilities | |||||||
Basis differences — foreign investments | (137,074 | ) | (138,712 | ) | |||
Basis differences — equity investees | (53,460 | ) | (46,899 | ) | |||
Deferred revenue | (100 | ) | (1,778 | ) | |||
Total deferred tax liabilities | (190,634 | ) | (187,389 | ) | |||
Net Deferred Tax Liability | $ | (170,408 | ) | $ | (165,262 | ) |
W. P. Carey 2020 10-K– 112 |
Years Ended December 31, | |||||||
2019 | 2018 | ||||||
Beginning balance | $ | 6,105 | $ | 5,202 | |||
Addition based on tax positions related to the current year | 543 | 514 | |||||
Decrease due to lapse in statute of limitations | (497 | ) | (2,186 | ) | |||
(Decrease) addition based on tax positions related to prior years | (287 | ) | 442 | ||||
Foreign currency translation adjustments | (108 | ) | (140 | ) | |||
Increase due to CPA:17 Merger | — | 2,273 | |||||
Ending balance | $ | 5,756 | $ | 6,105 |
Years Ended December 31, | |||||||||||
2020 | 2019 | ||||||||||
Beginning balance | $ | 5,756 | $ | 6,105 | |||||||
Decrease due to lapse in statute of limitations | (783) | (497) | |||||||||
Addition based on tax positions related to the current year | 591 | 543 | |||||||||
Foreign currency translation adjustments | 515 | (108) | |||||||||
Addition (decrease) based on tax positions related to the prior year | 233 | (287) | |||||||||
Ending balance | $ | 6,312 | $ | 5,756 |
W. P. Carey 2020 10-K– 113 |
W. P. Carey |
Years Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Revenues | |||||||||||||||||
Lease revenues | $ | 1,154,504 | $ | 1,086,375 | $ | 744,498 | |||||||||||
Lease termination income and other | 12,094 | 36,268 | 6,555 | ||||||||||||||
Operating property revenues (a) | 11,399 | 50,220 | 28,072 | ||||||||||||||
1,177,997 | 1,172,863 | 779,125 | |||||||||||||||
Operating Expenses | |||||||||||||||||
Depreciation and amortization (b) | 441,948 | 443,300 | 287,461 | ||||||||||||||
General and administrative (b) | 70,127 | 56,796 | 47,210 | ||||||||||||||
Reimbursable tenant costs | 56,409 | 55,576 | 28,076 | ||||||||||||||
Property expenses, excluding reimbursable tenant costs | 44,067 | 39,545 | 22,773 | ||||||||||||||
Impairment charges | 35,830 | 32,539 | 4,790 | ||||||||||||||
Stock-based compensation expense (b) | 15,247 | 13,248 | 10,450 | ||||||||||||||
Operating property expenses | 9,901 | 38,015 | 20,150 | ||||||||||||||
Merger and other expenses | (937) | 101 | 41,426 | ||||||||||||||
672,592 | 679,120 | 462,336 | |||||||||||||||
Other Income and Expenses | |||||||||||||||||
Interest expense | (210,087) | (233,325) | (178,375) | ||||||||||||||
Gain on sale of real estate, net | 109,370 | 18,143 | 118,605 | ||||||||||||||
Other gains and (losses) | 46,074 | 30,251 | 30,015 | ||||||||||||||
Equity in (losses) earnings of equity method investments in real estate | (9,017) | 2,361 | 13,341 | ||||||||||||||
(Loss) gain on change in control of interests | 0 | (8,416) | 18,792 | ||||||||||||||
(63,660) | (190,986) | 2,378 | |||||||||||||||
Income before income taxes | 441,745 | 302,757 | 319,167 | ||||||||||||||
Benefit from (provision for) income taxes | 18,498 | (30,802) | 844 | ||||||||||||||
Net Income from Real Estate | 460,243 | 271,955 | 320,011 | ||||||||||||||
Net (income) loss attributable to noncontrolling interests | (731) | 110 | (12,775) | ||||||||||||||
Net Income from Real Estate Attributable to W. P. Carey | $ | 459,512 | $ | 272,065 | $ | 307,236 |
Years Ended December 31, | |||||||||||
2019 | 2018 | 2017 | |||||||||
Revenues | |||||||||||
Lease revenues | $ | 1,086,375 | $ | 744,498 | $ | 651,897 | |||||
Operating property revenues (a) | 50,220 | 28,072 | 30,562 | ||||||||
Lease termination income and other | 36,268 | 6,555 | 4,749 | ||||||||
1,172,863 | 779,125 | 687,208 | |||||||||
Operating Expenses | |||||||||||
Depreciation and amortization | 443,300 | 287,461 | 249,432 | ||||||||
General and administrative | 56,796 | 47,210 | 39,002 | ||||||||
Reimbursable tenant costs | 55,576 | 28,076 | 21,524 | ||||||||
Property expenses, excluding reimbursable tenant costs | 39,545 | 22,773 | 17,330 | ||||||||
Operating property expenses | 38,015 | 20,150 | 23,426 | ||||||||
Impairment charges | 32,539 | 4,790 | 2,769 | ||||||||
Stock-based compensation expense | 13,248 | 10,450 | 6,960 | ||||||||
Merger and other expenses | 101 | 41,426 | 605 | ||||||||
679,120 | 462,336 | 361,048 | |||||||||
Other Income and Expenses | |||||||||||
Interest expense | (233,325 | ) | (178,375 | ) | (165,775 | ) | |||||
Other gains and (losses) | 30,251 | 30,015 | (5,655 | ) | |||||||
Gain on sale of real estate, net | 18,143 | 118,605 | 33,878 | ||||||||
(Loss) gain on change in control of interests | (8,416 | ) | 18,792 | — | |||||||
Equity in earnings of equity method investments in real estate | 2,361 | 13,341 | 13,068 | ||||||||
(190,986 | ) | 2,378 | (124,484 | ) | |||||||
Income before income taxes | 302,757 | 319,167 | 201,676 | ||||||||
(Provision for) benefit from income taxes | (30,802 | ) | 844 | (1,743 | ) | ||||||
Net Income from Real Estate | 271,955 | 320,011 | 199,933 | ||||||||
Net loss (income) attributable to noncontrolling interests | 110 | (12,775 | ) | (7,794 | ) | ||||||
Net Income from Real Estate Attributable to W. P. Carey | $ | 272,065 | $ | 307,236 | $ | 192,139 |
W. P. Carey |
Years Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Revenues | |||||||||||||||||
Asset management revenue | $ | 21,973 | $ | 39,132 | $ | 63,556 | |||||||||||
Reimbursable costs from affiliates | 8,855 | 16,547 | 21,925 | ||||||||||||||
Structuring and other advisory revenue | 494 | 4,224 | 21,126 | ||||||||||||||
31,322 | 59,903 | 106,607 | |||||||||||||||
Operating Expenses | |||||||||||||||||
Reimbursable costs from affiliates | 8,855 | 16,547 | 21,925 | ||||||||||||||
General and administrative (b) | 5,823 | 18,497 | 21,127 | ||||||||||||||
Subadvisor fees | 1,469 | 7,579 | 9,240 | ||||||||||||||
Merger and other expenses | 1,184 | 0 | 0 | ||||||||||||||
Depreciation and amortization (b) | 987 | 3,835 | 3,979 | ||||||||||||||
Stock-based compensation expense (b) | 691 | 5,539 | 7,844 | ||||||||||||||
19,009 | 51,997 | 64,115 | |||||||||||||||
Other Income and Expenses | |||||||||||||||||
Equity in (losses) earnings of equity method investments in the Managed Programs | (9,540) | 20,868 | 48,173 | ||||||||||||||
Other gains and (losses) | 678 | 1,224 | (102) | ||||||||||||||
Gain on change in control of interests | 0 | 0 | 29,022 | ||||||||||||||
(8,862) | 22,092 | 77,093 | |||||||||||||||
Income before income taxes | 3,451 | 29,998 | 119,585 | ||||||||||||||
Benefit from (provision for) income taxes | 2,261 | 4,591 | (15,255) | ||||||||||||||
Net Income from Investment Management | 5,712 | 34,589 | 104,330 | ||||||||||||||
Net income attributable to noncontrolling interests | (9,865) | (1,411) | 0 | ||||||||||||||
Net (Loss) Income from Investment Management Attributable to W. P. Carey | $ | (4,153) | $ | 33,178 | $ | 104,330 |
Years Ended December 31, | |||||||||||
2019 | 2018 | 2017 | |||||||||
Revenues | |||||||||||
Asset management revenue | $ | 39,132 | $ | 63,556 | $ | 70,125 | |||||
Reimbursable costs from affiliates | 16,547 | 21,925 | 51,445 | ||||||||
Structuring and other advisory revenue | 4,224 | 21,126 | 35,094 | ||||||||
Dealer manager fees | — | — | 4,430 | ||||||||
59,903 | 106,607 | 161,094 | |||||||||
Operating Expenses | |||||||||||
General and administrative | 18,497 | 21,127 | 31,889 | ||||||||
Reimbursable costs from affiliates | 16,547 | 21,925 | 51,445 | ||||||||
Subadvisor fees | 7,579 | 9,240 | 13,600 | ||||||||
Stock-based compensation expense | 5,539 | 7,844 | 11,957 | ||||||||
Depreciation and amortization | 3,835 | 3,979 | 3,902 | ||||||||
Restructuring and other compensation | — | — | 9,363 | ||||||||
Dealer manager fees and expenses | — | — | 6,544 | ||||||||
51,997 | 64,115 | 128,700 | |||||||||
Other Income and Expenses | |||||||||||
Equity in earnings of equity method investments in the Managed Programs | 20,868 | 48,173 | 51,682 | ||||||||
Other gains and (losses) | 1,224 | (102 | ) | 2,042 | |||||||
Gain on change in control of interests | — | 29,022 | — | ||||||||
22,092 | 77,093 | 53,724 | |||||||||
Income before income taxes | 29,998 | 119,585 | 86,118 | ||||||||
Benefit from (provision for) income taxes | 4,591 | (15,255 | ) | (968 | ) | ||||||
Net Income from Investment Management | 34,589 | 104,330 | 85,150 | ||||||||
Net income attributable to noncontrolling interests | (1,411 | ) | — | — | |||||||
Net Income from Investment Management Attributable to W. P. Carey | $ | 33,178 | $ | 104,330 | $ | 85,150 |
Years Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Revenues | $ | 1,209,319 | $ | 1,232,766 | $ | 885,732 | |||||||||||
Operating expenses | 691,601 | 731,117 | 526,451 | ||||||||||||||
Other income and expenses | (72,522) | (168,894) | 79,471 | ||||||||||||||
Benefit from (provision for) income taxes | 20,759 | (26,211) | (14,411) | ||||||||||||||
Net income attributable to noncontrolling interests | (10,596) | (1,301) | (12,775) | ||||||||||||||
Net income attributable to W. P. Carey | $ | 455,359 | $ | 305,243 | $ | 411,566 |
Years Ended December 31, | |||||||||||
2019 | 2018 | 2017 | |||||||||
Revenues | $ | 1,232,766 | $ | 885,732 | $ | 848,302 | |||||
Operating expenses | 731,117 | 526,451 | 489,748 | ||||||||
Other income and expenses | (168,894 | ) | 79,471 | (70,760 | ) | ||||||
Provision for income taxes | (26,211 | ) | (14,411 | ) | (2,711 | ) | |||||
Net income attributable to noncontrolling interests | (1,301 | ) | (12,775 | ) | (7,794 | ) | |||||
Net income attributable to W. P. Carey | $ | 305,243 | $ | 411,566 | $ | 277,289 |
Total Assets at December 31, | |||||||||||
2020 | 2019 | ||||||||||
Real Estate | $ | 14,582,015 | $ | 13,811,403 | |||||||
Investment Management (c) | 125,621 | 249,515 | |||||||||
Total Company | $ | 14,707,636 | $ | 14,060,918 |
Total Assets at December 31, | |||||||
2019 | 2018 | ||||||
Real Estate | $ | 13,811,403 | $ | 13,941,963 | |||
Investment Management | 249,515 | 241,076 | |||||
Total Company | $ | 14,060,918 | $ | 14,183,039 |
W. P. Carey |
Years Ended December 31, | |||||||||||
2019 | 2018 | 2017 | |||||||||
Revenues | |||||||||||
Domestic | $ | 783,828 | $ | 499,342 | $ | 451,310 | |||||
International | 389,035 | 279,783 | 235,898 | ||||||||
Total | $ | 1,172,863 | $ | 779,125 | $ | 687,208 |
Years Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Revenues | |||||||||||||||||
Domestic | $ | 756,763 | $ | 783,828 | $ | 499,342 | |||||||||||
International | 421,234 | 389,035 | 279,783 | ||||||||||||||
Total | $ | 1,177,997 | $ | 1,172,863 | $ | 779,125 |
December 31, | December 31, | |||||||||||||||||
2019 | 2018 | 2020 | 2019 | |||||||||||||||
Long-lived Assets (a) | Long-lived Assets (a) | |||||||||||||||||
Domestic | $ | 7,574,110 | $ | 7,579,018 | Domestic | $ | 7,565,663 | $ | 7,574,110 | |||||||||
International | 4,342,635 | 4,349,836 | International | 4,796,766 | 4,342,635 | |||||||||||||
Total | $ | 11,916,745 | $ | 11,928,854 | Total | $ | 12,362,429 | $ | 11,916,745 | |||||||||
Equity Investments in Real Estate | Equity Investments in Real Estate | |||||||||||||||||
Domestic | $ | 110,822 | $ | 129,799 | Domestic | $ | 152,451 | $ | 110,822 | |||||||||
International | 83,615 | 91,859 | International | 74,438 | 83,615 | |||||||||||||
Total | $ | 194,437 | $ | 221,658 | Total | $ | 226,889 | $ | 194,437 |
W. P. Carey |
Three Months Ended | |||||||||||||||||||||||
March 31, 2020 | June 30, 2020 | September 30, 2020 | December 31, 2020 | ||||||||||||||||||||
Revenues | $ | 308,999 | $ | 290,530 | $ | 302,419 | $ | 307,371 | |||||||||||||||
Expenses | 192,987 | 158,379 | 162,239 | 177,996 | |||||||||||||||||||
Net income | 66,702 | 115,204 | 149,434 | 134,615 | |||||||||||||||||||
Net income attributable to noncontrolling interests | (612) | (9,904) | (37) | (43) | |||||||||||||||||||
Net income attributable to W. P. Carey | 66,090 | 105,300 | 149,397 | 134,572 | |||||||||||||||||||
Earnings per share attributable to W. P. Carey: | |||||||||||||||||||||||
Basic (a) | $ | 0.38 | $ | 0.61 | $ | 0.85 | $ | 0.76 | |||||||||||||||
Diluted (a) | $ | 0.38 | $ | 0.61 | $ | 0.85 | $ | 0.76 |
Three Months Ended | |||||||||||||||
March 31, 2019 | June 30, 2019 | September 30, 2019 | December 31, 2019 | ||||||||||||
Revenues (a) | $ | 298,323 | $ | 305,211 | $ | 318,005 | $ | 311,227 | |||||||
Expenses (a) (b) | 177,722 | 179,170 | 198,409 | 175,816 | |||||||||||
Net income (a) (b) (c) (d) | 68,796 | 66,121 | 41,835 | 129,792 | |||||||||||
Net income attributable to noncontrolling interests (a) | (302 | ) | (83 | ) | (496 | ) | (420 | ) | |||||||
Net income attributable to W. P. Carey (a) (b) (c) (d) | 68,494 | 66,038 | 41,339 | 129,372 | |||||||||||
Earnings per share attributable to W. P. Carey: | |||||||||||||||
Basic (e) | $ | 0.41 | $ | 0.39 | $ | 0.24 | $ | 0.75 | |||||||
Diluted (e) | $ | 0.41 | $ | 0.38 | $ | 0.24 | $ | 0.75 |
Three Months Ended | |||||||||||||||
March 31, 2018 | June 30, 2018 | September 30, 2018 | December 31, 2018 | ||||||||||||
Revenues (a) | $ | 201,810 | $ | 201,143 | $ | 209,384 | $ | 273,395 | |||||||
Expenses (a) | 120,966 | 109,202 | 110,937 | 185,346 | |||||||||||
Net income (a) (f) (g) | 68,066 | 79,424 | 81,573 | 195,278 | |||||||||||
Net income attributable to noncontrolling interests (a) | (2,792 | ) | (3,743 | ) | (4,225 | ) | (2,015 | ) | |||||||
Net income attributable to W. P. Carey (a) (f) (g) | 65,274 | 75,681 | 77,348 | 193,263 | |||||||||||
Earnings per share attributable to W. P. Carey: | |||||||||||||||
Basic (e) | $ | 0.60 | $ | 0.70 | $ | 0.71 | $ | 1.33 | |||||||
Diluted (e) | $ | 0.60 | $ | 0.70 | $ | 0.71 | $ | 1.33 |
Three Months Ended | |||||||||||||||||||||||
March 31, 2019 | June 30, 2019 | September 30, 2019 | December 31, 2019 | ||||||||||||||||||||
Revenues | $ | 298,323 | $ | 305,211 | $ | 318,005 | $ | 311,227 | |||||||||||||||
Expenses | 177,722 | 179,170 | 198,409 | 175,816 | |||||||||||||||||||
Net income | 68,796 | 66,121 | 41,835 | 129,792 | |||||||||||||||||||
Net income attributable to noncontrolling interests | (302) | (83) | (496) | (420) | |||||||||||||||||||
Net income attributable to W. P. Carey | 68,494 | 66,038 | 41,339 | 129,372 | |||||||||||||||||||
Earnings per share attributable to W. P. Carey: | |||||||||||||||||||||||
Basic (a) | $ | 0.41 | $ | 0.39 | $ | 0.24 | $ | 0.75 | |||||||||||||||
Diluted (a) | $ | 0.41 | $ | 0.38 | $ | 0.24 | $ | 0.75 |
(a)The sum of the quarterly basic and diluted earnings per share amounts may not agree to the full year basic and diluted earnings per share amounts because the calculations of basic and diluted weighted-average shares outstanding for each quarter and the full year are performed independently. |
W. P. Carey |
W. P. Carey |
Description | Balance at Beginning of Year | Other Additions | Deductions | Balance at End of Year | ||||||||||||||||||||||
Year Ended December 31, 2020 | ||||||||||||||||||||||||||
Valuation reserve for deferred tax assets | $ | 73,643 | $ | 31,470 | $ | (19,044) | $ | 86,069 | ||||||||||||||||||
Year Ended December 31, 2019 | ||||||||||||||||||||||||||
Valuation reserve for deferred tax assets | $ | 54,499 | $ | 22,384 | $ | (3,240) | $ | 73,643 | ||||||||||||||||||
Year Ended December 31, 2018 | ||||||||||||||||||||||||||
Valuation reserve for deferred tax assets | $ | 39,155 | $ | 30,557 | $ | (15,213) | $ | 54,499 |
Description | Balance at Beginning of Year | Other Additions | Deductions | Balance at End of Year | ||||||||||||
Year Ended December 31, 2019 | ||||||||||||||||
Valuation reserve for deferred tax assets | $ | 54,499 | $ | 22,384 | $ | (3,240 | ) | $ | 73,643 | |||||||
Year Ended December 31, 2018 | ||||||||||||||||
Valuation reserve for deferred tax assets | $ | 39,155 | $ | 30,557 | $ | (15,213 | ) | $ | 54,499 | |||||||
Year Ended December 31, 2017 | ||||||||||||||||
Valuation reserve for deferred tax assets | $ | 27,350 | $ | 18,031 | $ | (6,226 | ) | $ | 39,155 |
W. P. Carey |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Increase (Decrease) in Net Investments (b) | Gross Amount at which Carried at Close of Period (c) (d) | Accumulated Depreciation (d) | Date of Construction | Date Acquired | Life on which Depreciation in Latest Statement of Income is Computed | |||||||||||||||||||||||||||||||||||
Description | Encumbrances | Land | Buildings | Land | Buildings | Total | ||||||||||||||||||||||||||||||||||||
Land, Buildings and Improvements Subject to Operating Leases | ||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Erlanger, KY | $ | — | $ | 1,526 | $ | 21,427 | $ | 2,966 | $ | 141 | $ | 1,526 | $ | 24,534 | $ | 26,060 | $ | 13,881 | 1979; 1987 | Jan. 1998 | 40 yrs. | |||||||||||||||||||||
Industrial facilities in Thurmont, MD and Farmington, NY | — | 729 | 5,903 | — | — | 729 | 5,903 | 6,632 | 2,238 | 1964; 1983 | Jan. 1998 | 15 yrs. | ||||||||||||||||||||||||||||||
Warehouse facilities in Anchorage, AK and Commerce, CA | — | 4,905 | 11,898 | — | 12 | 4,905 | 11,910 | 16,815 | 5,803 | 1948; 1975 | Jan. 1998 | 40 yrs. | ||||||||||||||||||||||||||||||
Industrial facility in Toledo, OH | — | 224 | 2,408 | — | — | 224 | 2,408 | 2,632 | 1,705 | 1966 | Jan. 1998 | 40 yrs. | ||||||||||||||||||||||||||||||
Industrial facility in Goshen, IN | — | 239 | 940 | — | — | 239 | 940 | 1,179 | 462 | 1973 | Jan. 1998 | 40 yrs. | ||||||||||||||||||||||||||||||
Office facility in Raleigh, NC | — | 1,638 | 2,844 | 187 | (2,554 | ) | 828 | 1,287 | 2,115 | 911 | 1983 | Jan. 1998 | 20 yrs. | |||||||||||||||||||||||||||||
Office facility in King of Prussia, PA | — | 1,219 | 6,283 | 1,295 | — | 1,219 | 7,578 | 8,797 | 4,036 | 1968 | Jan. 1998 | 40 yrs. | ||||||||||||||||||||||||||||||
Industrial facility in Pinconning, MI | — | 32 | 1,692 | — | — | 32 | 1,692 | 1,724 | 930 | 1948 | Jan. 1998 | 40 yrs. | ||||||||||||||||||||||||||||||
Industrial facilities in San Fernando, CA | 6,103 | 2,052 | 5,322 | — | (1,889 | ) | 1,494 | 3,991 | 5,485 | 2,208 | 1962; 1979 | Jan. 1998 | 40 yrs. | |||||||||||||||||||||||||||||
Retail facilities in several cities in the following states: Alabama, Florida, Georgia, Illinois, Louisiana, Missouri, New Mexico, North Carolina, South Carolina, Tennessee, and Texas | — | 9,382 | — | 238 | 14,696 | 9,025 | 15,291 | 24,316 | 5,790 | Various | Jan. 1998 | 15 yrs. | ||||||||||||||||||||||||||||||
Industrial facility in Glendora, CA | — | 1,135 | — | — | 1,942 | 1,152 | 1,925 | 3,077 | 192 | 1950 | Jan. 1998 | 10 yrs. | ||||||||||||||||||||||||||||||
Warehouse facility in Doraville, GA | — | 3,288 | 9,864 | 16,729 | (11,410 | ) | 3,288 | 15,183 | 18,471 | 1,268 | 2016 | Jan. 1998 | 40 yrs. | |||||||||||||||||||||||||||||
Office facility in Collierville, TN and warehouse facility in Corpus Christi, TX | 42,576 | 3,490 | 72,497 | — | (15,609 | ) | 288 | 60,090 | 60,378 | 17,933 | 1989; 1999 | Jan. 1998 | 40 yrs. | |||||||||||||||||||||||||||||
Land in Irving and Houston, TX | — | 9,795 | — | — | — | 9,795 | — | 9,795 | — | N/A | Jan. 1998 | N/A | ||||||||||||||||||||||||||||||
Industrial facility in Chandler, AZ | — | 5,035 | 18,957 | 7,460 | 516 | 5,035 | 26,933 | 31,968 | 14,406 | 1989 | Jan. 1998 | 40 yrs. | ||||||||||||||||||||||||||||||
Office facility in Bridgeton, MO | — | 842 | 4,762 | 2,523 | 71 | 842 | 7,356 | 8,198 | 3,768 | 1972 | Jan. 1998 | 40 yrs. | ||||||||||||||||||||||||||||||
Retail facility in Drayton Plains, MI | — | 1,039 | 4,788 | 236 | (2,297 | ) | 494 | 3,272 | 3,766 | 1,266 | 1972 | Jan. 1998 | 35 yrs. | |||||||||||||||||||||||||||||
Warehouse facility in Memphis, TN | — | 1,882 | 3,973 | 294 | (3,892 | ) | 328 | 1,929 | 2,257 | 1,266 | 1969 | Jan. 1998 | 15 yrs. | |||||||||||||||||||||||||||||
Industrial facility in Romulus, MI | — | 454 | 6,411 | 525 | — | 454 | 6,936 | 7,390 | 682 | 1970 | Jan. 1998 | 10 yrs. | ||||||||||||||||||||||||||||||
Retail facility in Bellevue, WA | — | 4,125 | 11,812 | 393 | (123 | ) | 4,371 | 11,836 | 16,207 | 6,322 | 1994 | Apr. 1998 | 40 yrs. | |||||||||||||||||||||||||||||
Office facility in Rio Rancho, NM | — | 1,190 | 9,353 | 5,866 | — | 2,287 | 14,122 | 16,409 | 6,369 | 1999 | Jul. 1998 | 40 yrs. | ||||||||||||||||||||||||||||||
Office facility in Moorestown, NJ | — | 351 | 5,981 | 1,652 | 1 | 351 | 7,634 | 7,985 | 4,265 | 1964 | Feb. 1999 | 40 yrs. | ||||||||||||||||||||||||||||||
Industrial facilities in Lenexa, KS and Winston-Salem, NC | — | 1,860 | 12,539 | 3,075 | (1,135 | ) | 1,725 | 14,614 | 16,339 | 6,531 | 1968; 1980 | Sep. 2002 | 40 yrs. | |||||||||||||||||||||||||||||
Office facilities in Playa Vista and Venice, CA | 21,048 | 2,032 | 10,152 | 52,817 | 1 | 5,889 | 59,113 | 65,002 | 15,303 | 1991; 1999 | Sep. 2004; Sep. 2012 | 40 yrs. | ||||||||||||||||||||||||||||||
Warehouse facility in Greenfield, IN | — | 2,807 | 10,335 | 223 | (8,383 | ) | 967 | 4,015 | 4,982 | 1,857 | 1995 | Sep. 2004 | 40 yrs. | |||||||||||||||||||||||||||||
Retail facility in Hot Springs, AR | — | 850 | 2,939 | 2 | (2,614 | ) | — | 1,177 | 1,177 | 451 | 1985 | Sep. 2004 | 40 yrs. |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Increase (Decrease) in Net Investments (b) | Gross Amount at which Carried at Close of Period (c) (d) | Accumulated Depreciation (d) | Date of Construction | Date Acquired | Life on which Depreciation in Latest Statement of Income is Computed | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Description | Encumbrances | Land | Buildings | Land | Buildings | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Land, Buildings and Improvements Subject to Operating Leases | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Erlanger, KY | $ | 0 | $ | 1,526 | $ | 21,427 | $ | 2,966 | $ | (84) | $ | 1,526 | $ | 24,309 | $ | 25,835 | $ | 14,240 | 1979; 1987 | Jan. 1998 | 40 yrs. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Thurmont, MD and Farmington, NY | 0 | 729 | 5,903 | 0 | 0 | 729 | 5,903 | 6,632 | 2,633 | 1964; 1983 | Jan. 1998 | 15 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in Anchorage, AK and Commerce, CA | 0 | 4,905 | 11,898 | 0 | 12 | 4,905 | 11,910 | 16,815 | 6,399 | 1948; 1975 | Jan. 1998 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Toledo, OH | 0 | 224 | 2,408 | 0 | 0 | 224 | 2,408 | 2,632 | 1,806 | 1966 | Jan. 1998 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Goshen, IN | 0 | 239 | 940 | 0 | 0 | 239 | 940 | 1,179 | 510 | 1973 | Jan. 1998 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Raleigh, NC | 0 | 1,638 | 2,844 | 187 | (2,554) | 828 | 1,287 | 2,115 | 969 | 1983 | Jan. 1998 | 20 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in King of Prussia, PA | 0 | 1,219 | 6,283 | 1,295 | 0 | 1,219 | 7,578 | 8,797 | 4,233 | 1968 | Jan. 1998 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Pinconning, MI | 0 | 32 | 1,692 | 0 | 0 | 32 | 1,692 | 1,724 | 973 | 1948 | Jan. 1998 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Sylmar, CA | 5,970 | 2,052 | 5,322 | 0 | (1,889) | 1,494 | 3,991 | 5,485 | 2,307 | 1962; 1979 | Jan. 1998 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities in several cities in the following states: Alabama, Florida, Georgia, Illinois, Louisiana, Missouri, New Mexico, North Carolina, South Carolina, Tennessee, and Texas | 0 | 9,382 | 0 | 238 | 14,696 | 9,025 | 15,291 | 24,316 | 7,217 | Various | Jan. 1998 | 15 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Glendora, CA | 0 | 1,135 | 0 | 0 | 1,942 | 1,152 | 1,925 | 3,077 | 385 | 1950 | Jan. 1998 | 10 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Doraville, GA | 0 | 3,288 | 9,864 | 17,079 | (11,410) | 3,288 | 15,533 | 18,821 | 1,773 | 2016 | Jan. 1998 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Collierville, TN and warehouse facility in Corpus Christi, TX | 0 | 3,490 | 72,497 | 3,513 | (15,608) | 288 | 63,604 | 63,892 | 19,957 | 1989; 1999 | Jan. 1998 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Land in Irving and Houston, TX | 0 | 9,795 | 0 | 0 | 0 | 9,795 | 0 | 9,795 | 0 | N/A | Jan. 1998 | N/A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Chandler, AZ | 0 | 5,035 | 18,957 | 8,317 | 516 | 5,035 | 27,790 | 32,825 | 15,148 | 1989 | Jan. 1998 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Bridgeton, MO | 0 | 842 | 4,762 | 2,523 | (196) | 842 | 7,089 | 7,931 | 3,771 | 1972 | Jan. 1998 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Waterford Township, MI | 0 | 1,039 | 4,788 | 236 | (2,297) | 494 | 3,272 | 3,766 | 1,347 | 1972 | Jan. 1998 | 35 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Memphis, TN | 0 | 1,882 | 3,973 | 294 | (3,892) | 328 | 1,929 | 2,257 | 1,375 | 1969 | Jan. 1998 | 15 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Romulus, MI | 0 | 454 | 6,411 | 525 | 0 | 454 | 6,936 | 7,390 | 1,377 | 1970 | Jan. 1998 | 10 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Bellevue, WA | 0 | 4,125 | 11,812 | 393 | (123) | 4,371 | 11,836 | 16,207 | 6,598 | 1994 | Apr. 1998 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Rio Rancho, NM | 0 | 1,190 | 9,353 | 5,866 | (238) | 2,287 | 13,884 | 16,171 | 6,634 | 1999 | Jul. 1998 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Moorestown, NJ | 0 | 351 | 5,981 | 1,667 | 1 | 351 | 7,649 | 8,000 | 4,477 | 1964 | Feb. 1999 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Lenexa, KS and Winston-Salem, NC | 0 | 1,860 | 12,539 | 3,075 | (1,135) | 1,725 | 14,614 | 16,339 | 7,139 | 1968; 1980 | Sep. 2002 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facilities in Playa Vista and Venice, CA | 20,567 | 2,032 | 10,152 | 52,817 | 1 | 5,889 | 59,113 | 65,002 | 17,087 | 1991; 1999 | Sep. 2004; Sep. 2012 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Greenfield, IN | 0 | 2,807 | 10,335 | 223 | (8,383) | 967 | 4,015 | 4,982 | 2,001 | 1995 | Sep. 2004 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Hot Springs, AR | 0 | 850 | 2,939 | 2 | (2,614) | 0 | 1,177 | 1,177 | 480 | 1985 | Sep. 2004 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in Apopka, FL | 0 | 362 | 10,855 | 1,195 | (155) | 337 | 11,920 | 12,257 | 4,364 | 1969 | Sep. 2004 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Land in San Leandro, CA | 0 | 1,532 | 0 | 0 | 0 | 1,532 | 0 | 1,532 | 0 | N/A | Dec. 2006 | N/A |
W. P. Carey |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Increase (Decrease) in Net Investments (b) | Gross Amount at which Carried at Close of Period (c) (d) | Accumulated Depreciation (d) | Date of Construction | Date Acquired | Life on which Depreciation in Latest Statement of Income is Computed | ||||||||||||||||||||||||||
Description | Encumbrances | Land | Buildings | Land | Buildings | Total | |||||||||||||||||||||||||||
Warehouse facilities in Apopka, FL | — | 362 | 10,855 | 1,195 | (155 | ) | 337 | 11,920 | 12,257 | 4,100 | 1969 | Sep. 2004 | 40 yrs. | ||||||||||||||||||||
Land in San Leandro, CA | — | 1,532 | — | — | — | 1,532 | — | 1,532 | — | N/A | Dec. 2006 | N/A | |||||||||||||||||||||
Fitness facility in Austin, TX | — | 1,725 | 5,168 | — | — | 1,725 | 5,168 | 6,893 | 2,372 | 1995 | Dec. 2006 | 29 yrs. | |||||||||||||||||||||
Retail facility in Wroclaw, Poland | — | 3,600 | 10,306 | — | (3,747 | ) | 2,809 | 7,350 | 10,159 | 2,195 | 2007 | Dec. 2007 | 40 yrs. | ||||||||||||||||||||
Office facility in Fort Worth, TX | — | 4,600 | 37,580 | 186 | — | 4,600 | 37,766 | 42,366 | 9,335 | 2003 | Feb. 2010 | 40 yrs. | |||||||||||||||||||||
Warehouse facility in Mallorca, Spain | — | 11,109 | 12,636 | — | (1,414 | ) | 10,428 | 11,903 | 22,331 | 2,848 | 2008 | Jun. 2010 | 40 yrs. | ||||||||||||||||||||
Retail facilities in Florence, AL; Snellville, GA; Rockport, TX; and Virginia Beach, VA | — | 5,646 | 12,367 | — | (3,786 | ) | 4,323 | 9,904 | 14,227 | 1,900 | 2005; 2007 | Sep. 2012 | 40 yrs. | ||||||||||||||||||||
Net-lease hotels in Irvine, Sacramento, and San Diego, CA; Orlando, FL; Des Plaines, IL; Indianapolis, IN; Louisville, KY; Linthicum Heights, MD; Newark, NJ; Albuquerque, NM; and Spokane, WA | 128,609 | 32,680 | 198,999 | — | — | 32,680 | 198,999 | 231,679 | 39,753 | 1989; 1990 | Sep. 2012 | 34 - 37 yrs. | |||||||||||||||||||||
Industrial facilities in Auburn, IN; Clinton Township, MI; and Bluffton, OH | — | 4,403 | 20,298 | — | (3,870 | ) | 2,589 | 18,242 | 20,831 | 3,998 | 1968; 1975; 1995 | Sep. 2012; Jan. 2014 | 30 yrs. | ||||||||||||||||||||
Land in Irvine, CA | 1,631 | 4,173 | — | — | — | 4,173 | — | 4,173 | — | N/A | Sep. 2012 | N/A | |||||||||||||||||||||
Industrial facility in Alpharetta, GA | — | 2,198 | 6,349 | 1,247 | — | 2,198 | 7,596 | 9,794 | 1,798 | 1997 | Sep. 2012 | 30 yrs. | |||||||||||||||||||||
Office facility in Clinton, NJ | 18,718 | 2,866 | 34,834 | — | — | 2,866 | 34,834 | 37,700 | 8,435 | 1987 | Sep. 2012 | 30 yrs. | |||||||||||||||||||||
Office facilities in St. Petersburg, FL | — | 3,280 | 24,627 | 2,078 | — | 3,280 | 26,705 | 29,985 | 6,001 | 1996; 1999 | Sep. 2012 | 30 yrs. | |||||||||||||||||||||
Movie theater in Baton Rouge, LA | — | 4,168 | 5,724 | 3,200 | — | 4,168 | 8,924 | 13,092 | 1,890 | 2003 | Sep. 2012 | 30 yrs. | |||||||||||||||||||||
Industrial and office facility in San Diego, CA | — | 7,804 | 16,729 | 4,654 | (705 | ) | 7,804 | 20,678 | 28,482 | 5,228 | 2002 | Sep. 2012 | 30 yrs. | ||||||||||||||||||||
Industrial facility in Richmond, CA | — | 895 | 1,953 | — | — | 895 | 1,953 | 2,848 | 473 | 1999 | Sep. 2012 | 30 yrs. | |||||||||||||||||||||
Warehouse facilities in Kingman, AZ; Woodland, CA; Jonesboro, GA; Kansas City, MO; Springfield, OR; Fogelsville, PA; and Corsicana, TX | 51,263 | 16,386 | 84,668 | — | — | 16,386 | 84,668 | 101,054 | 20,333 | Various | Sep. 2012 | 30 yrs. | |||||||||||||||||||||
Industrial facilities in Rocky Mount, NC and Lewisville, TX | — | 2,163 | 17,715 | 609 | (8,389 | ) | 1,132 | 10,966 | 12,098 | 2,573 | 1948; 1989 | Sep. 2012 | 30 yrs. | ||||||||||||||||||||
Industrial facilities in Chattanooga, TN | — | 558 | 5,923 | — | — | 558 | 5,923 | 6,481 | 1,418 | 1974; 1989 | Sep. 2012 | 30 yrs. | |||||||||||||||||||||
Industrial facility in Mooresville, NC | 2,690 | 756 | 9,775 | — | — | 756 | 9,775 | 10,531 | 2,334 | 1997 | Sep. 2012 | 30 yrs. | |||||||||||||||||||||
Industrial facility in McCalla, AL | — | 960 | 14,472 | 42,662 | — | 2,076 | 56,018 | 58,094 | 7,431 | 2004 | Sep. 2012 | 31 yrs. | |||||||||||||||||||||
Office facility in Lower Makefield Township, PA | — | 1,726 | 12,781 | 4,378 | — | 1,726 | 17,159 | 18,885 | 3,430 | 2002 | Sep. 2012 | 30 yrs. | |||||||||||||||||||||
Industrial facility in Fort Smith, AZ | — | 1,063 | 6,159 | — | — | 1,063 | 6,159 | 7,222 | 1,455 | 1982 | Sep. 2012 | 30 yrs. | |||||||||||||||||||||
Retail facilities in Greenwood, IN and Buffalo, NY | 6,547 | — | 19,990 | — | — | — | 19,990 | 19,990 | 4,672 | 2000; 2003 | Sep. 2012 | 30 - 31 yrs. | |||||||||||||||||||||
Industrial facilities in Bowling Green, KY and Jackson, TN | — | 1,492 | 8,182 | — | — | 1,492 | 8,182 | 9,674 | 1,928 | 1989; 1995 | Sep. 2012 | 31 yrs. |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Increase (Decrease) in Net Investments (b) | Gross Amount at which Carried at Close of Period (c) (d) | Accumulated Depreciation (d) | Date of Construction | Date Acquired | Life on which Depreciation in Latest Statement of Income is Computed | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Description | Encumbrances | Land | Buildings | Land | Buildings | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fitness facility in Austin, TX | 0 | 1,725 | 5,168 | 0 | 0 | 1,725 | 5,168 | 6,893 | 2,554 | 1995 | Dec. 2006 | 29 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Wroclaw, Poland | 0 | 3,600 | 10,306 | 0 | (2,809) | 3,068 | 8,029 | 11,097 | 2,594 | 2007 | Dec. 2007 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Fort Worth, TX | 0 | 4,600 | 37,580 | 186 | 0 | 4,600 | 37,766 | 42,366 | 10,289 | 2003 | Feb. 2010 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Mallorca, Spain | 0 | 11,109 | 12,636 | 0 | 648 | 11,391 | 13,002 | 24,393 | 3,437 | 2008 | Jun. 2010 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities in Snellville, GA and Virginia Beach, VA | 0 | 5,646 | 12,367 | 0 | (10,048) | 2,747 | 5,218 | 7,965 | 1,130 | 2005; 2007 | Sep. 2012 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net-lease hotels in Irvine, Sacramento, and San Diego, CA; Orlando, FL; Des Plaines, IL; Indianapolis, IN; Louisville, KY; Linthicum Heights, MD; Newark, NJ; Albuquerque, NM; and Spokane, WA | 126,154 | 32,680 | 198,999 | 0 | 0 | 32,680 | 198,999 | 231,679 | 45,253 | 1989; 1990 | Sep. 2012 | 34 - 37 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Auburn, IN; Clinton Township, MI; and Bluffton, OH | 0 | 4,403 | 20,298 | 0 | (3,870) | 2,589 | 18,242 | 20,831 | 4,638 | 1968; 1975; 1995 | Sep. 2012; Jan. 2014 | 30 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Land in Irvine, CA | 1,650 | 4,173 | 0 | 0 | 0 | 4,173 | 0 | 4,173 | 0 | N/A | Sep. 2012 | N/A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Alpharetta, GA | 0 | 2,198 | 6,349 | 1,247 | 0 | 2,198 | 7,596 | 9,794 | 2,091 | 1997 | Sep. 2012 | 30 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Clinton, NJ | 17,554 | 2,866 | 34,834 | 0 | 0 | 2,866 | 34,834 | 37,700 | 9,602 | 1987 | Sep. 2012 | 30 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facilities in St. Petersburg, FL | 0 | 3,280 | 24,627 | 3,288 | 0 | 3,280 | 27,915 | 31,195 | 7,036 | 1996; 1999 | Sep. 2012 | 30 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Movie theater in Baton Rouge, LA | 0 | 4,168 | 5,724 | 3,200 | 0 | 4,168 | 8,924 | 13,092 | 2,296 | 2003 | Sep. 2012 | 30 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial and office facility in San Diego, CA | 0 | 7,804 | 16,729 | 5,415 | (832) | 7,804 | 21,312 | 29,116 | 5,942 | 2002 | Sep. 2012 | 30 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Richmond, CA | 0 | 895 | 1,953 | 0 | 0 | 895 | 1,953 | 2,848 | 538 | 1999 | Sep. 2012 | 30 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in Kingman, AZ; Woodland, CA; Jonesboro, GA; Kansas City, MO; Springfield, OR; Fogelsville, PA; and Corsicana, TX | 49,427 | 16,386 | 84,668 | 7,187 | 0 | 16,386 | 91,855 | 108,241 | 23,146 | Various | Sep. 2012 | 30 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Rocky Mount, NC and Lewisville, TX | 0 | 2,163 | 17,715 | 609 | (8,389) | 1,132 | 10,966 | 12,098 | 2,957 | 1948; 1989 | Sep. 2012 | 30 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Chattanooga, TN | 0 | 558 | 5,923 | 0 | 0 | 558 | 5,923 | 6,481 | 1,615 | 1974; 1989 | Sep. 2012 | 30 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Mooresville, NC | 1,994 | 756 | 9,775 | 0 | 0 | 756 | 9,775 | 10,531 | 2,657 | 1997 | Sep. 2012 | 30 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in McCalla, AL | 0 | 960 | 14,472 | 42,662 | (254) | 2,076 | 55,764 | 57,840 | 9,200 | 2004 | Sep. 2012 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Lower Makefield Township, PA | 0 | 1,726 | 12,781 | 4,378 | 0 | 1,726 | 17,159 | 18,885 | 4,139 | 2002 | Sep. 2012 | 30 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Fort Smith, AZ | 0 | 1,063 | 6,159 | 0 | 0 | 1,063 | 6,159 | 7,222 | 1,656 | 1982 | Sep. 2012 | 30 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities in Greenwood, IN and Buffalo, NY | 5,950 | 0 | 19,990 | 0 | 0 | 0 | 19,990 | 19,990 | 5,318 | 2000; 2003 | Sep. 2012 | 30 - 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Bowling Green, KY and Jackson, TN | 0 | 1,492 | 8,182 | 184 | 0 | 1,492 | 8,366 | 9,858 | 2,195 | 1989; 1995 | Sep. 2012 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Education facilities in Rancho Cucamonga, CA and Exton, PA | 0 | 14,006 | 33,683 | 6,219 | (20,142) | 6,638 | 27,128 | 33,766 | 5,663 | 2004 | Sep. 2012 | 31 - 32 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in St. Petersburg, FL; Buffalo Grove, IL; West Lafayette, IN; Excelsior Springs, MO; and North Versailles, PA | 4,406 | 6,559 | 19,078 | 2,057 | 0 | 6,559 | 21,135 | 27,694 | 5,075 | Various | Sep. 2012 | 31 yrs. |
W. P. Carey |
Cost Capitalized Subsequent to Acquisition (a) | Increase (Decrease) in Net Investments (b) | Gross Amount at which Carried at Close of Period (c) (d) | Accumulated Depreciation (d) | Date of Construction | Date Acquired | Life on which Depreciation in Latest Statement of Income is Computed | |||||||||||||||||||||||||||
Initial Cost to Company | |||||||||||||||||||||||||||||||||
Description | Encumbrances | Land | Buildings | Land | Buildings | Total | |||||||||||||||||||||||||||
Education facilities in Avondale, AZ; Rancho Cucamonga, CA; and Exton, PA | 6,947 | 14,006 | 33,683 | 157 | (3,878 | ) | 11,179 | 32,789 | 43,968 | 7,404 | 2004 | Sep. 2012 | 31 - 32 yrs. | ||||||||||||||||||||
Industrial facilities in St. Petersburg, FL; Buffalo Grove, IL; West Lafayette, IN; Excelsior Springs, MO; and North Versailles, PA | 5,695 | 6,559 | 19,078 | — | — | 6,559 | 19,078 | 25,637 | 4,459 | Various | Sep. 2012 | 31 yrs. | |||||||||||||||||||||
Industrial facilities in Tolleson, AZ; Alsip, IL; and Solvay, NY | 7,732 | 6,080 | 23,424 | — | — | 6,080 | 23,424 | 29,504 | 5,430 | 1990; 1994; 2000 | Sep. 2012 | 31 yrs. | |||||||||||||||||||||
Fitness facilities in Englewood, CO; Memphis TN; and Bedford, TX | 1,371 | 4,877 | 4,258 | 5,215 | 4,756 | 4,877 | 14,229 | 19,106 | 3,629 | 1990; 1995; 2001 | Sep. 2012 | 31 yrs. | |||||||||||||||||||||
Office facility in Mons, Belgium | 5,501 | 1,505 | 6,026 | 653 | (1,065 | ) | 1,315 | 5,804 | 7,119 | 1,289 | 1982 | Sep. 2012 | 32 yrs. | ||||||||||||||||||||
Warehouse facilities in Oceanside, CA and Concordville, PA | 2,298 | 3,333 | 8,270 | — | — | 3,333 | 8,270 | 11,603 | 1,922 | 1989; 1996 | Sep. 2012 | 31 yrs. | |||||||||||||||||||||
Net-lease self-storage facilities located throughout the United States | — | 74,551 | 319,186 | — | (50 | ) | 74,501 | 319,186 | 393,687 | 73,409 | Various | Sep. 2012 | 31 yrs. | ||||||||||||||||||||
Warehouse facility in La Vista, NE | 19,073 | 4,196 | 23,148 | — | — | 4,196 | 23,148 | 27,344 | 5,017 | 2005 | Sep. 2012 | 33 yrs. | |||||||||||||||||||||
Office facility in Pleasanton, CA | — | 3,675 | 7,468 | — | — | 3,675 | 7,468 | 11,143 | 1,713 | 2000 | Sep. 2012 | 31 yrs. | |||||||||||||||||||||
Office facility in San Marcos, TX | — | 440 | 688 | — | — | 440 | 688 | 1,128 | 157 | 2000 | Sep. 2012 | 31 yrs. | |||||||||||||||||||||
Office facility in Chicago, IL | — | 2,169 | 19,010 | 72 | (72 | ) | 2,169 | 19,010 | 21,179 | 4,326 | 1910 | Sep. 2012 | 31 yrs. | ||||||||||||||||||||
Industrial facilities in Hollywood and Orlando, FL | — | 3,639 | 1,269 | — | — | 3,639 | 1,269 | 4,908 | 289 | 1996 | Sep. 2012 | 31 yrs. | |||||||||||||||||||||
Warehouse facility in Golden, CO | — | 808 | 4,304 | 77 | — | 808 | 4,381 | 5,189 | 1,096 | 1998 | Sep. 2012 | 30 yrs. | |||||||||||||||||||||
Industrial facility in Texarkana, TX | — | 1,755 | 4,493 | — | (2,783 | ) | 216 | 3,249 | 3,465 | 739 | 1997 | Sep. 2012 | 31 yrs. | ||||||||||||||||||||
Industrial facility in Eugene, OR | 4,014 | 2,286 | 3,783 | — | — | 2,286 | 3,783 | 6,069 | 861 | 1980 | Sep. 2012 | 31 yrs. | |||||||||||||||||||||
Industrial facility in South Jordan, UT | — | 2,183 | 11,340 | 1,642 | — | 2,183 | 12,982 | 15,165 | 2,782 | 1995 | Sep. 2012 | 31 yrs. | |||||||||||||||||||||
Warehouse facility in Ennis, TX | — | 478 | 4,087 | 145 | — | 478 | 4,232 | 4,710 | 1,075 | 1989 | Sep. 2012 | 31 yrs. | |||||||||||||||||||||
Retail facility in Braintree, MA | — | 2,409 | — | 6,184 | (1,403 | ) | 1,006 | 6,184 | 7,190 | 1,209 | 1994 | Sep. 2012 | 30 yrs. | ||||||||||||||||||||
Office facility in Paris, France | 46,269 | 23,387 | 43,450 | — | (8,451 | ) | 20,430 | 37,956 | 58,386 | 8,418 | 1975 | Sep. 2012 | 32 yrs. | ||||||||||||||||||||
Retail facilities in Bydgoszcz, Czestochowa, Jablonna, Katowice, Kielce, Lodz, Lubin, Olsztyn, Opole, Plock, Rybnik, Walbrzych, and Warsaw, Poland | — | 26,564 | 72,866 | — | (12,613 | ) | 23,164 | 63,653 | 86,817 | 19,395 | Various | Sep. 2012 | 23 - 34 yrs. | ||||||||||||||||||||
Industrial facility in Laupheim, Germany | — | 2,072 | 8,339 | — | (1,317 | ) | 1,810 | 7,284 | 9,094 | 2,649 | 1960 | Sep. 2012 | 20 yrs. | ||||||||||||||||||||
Industrial facilities in Danbury, CT and Bedford, MA | 5,443 | 3,519 | 16,329 | — | — | 3,519 | 16,329 | 19,848 | 3,965 | 1965; 1980 | Sep. 2012 | 29 yrs. | |||||||||||||||||||||
Industrial facility in Brownwood, TX | — | 722 | 6,268 | — | — | 722 | 6,268 | 6,990 | 418 | 1964 | Sep. 2012 | 15 yrs. | |||||||||||||||||||||
Warehouse facilities in Venlo, Netherlands | — | 10,154 | 18,590 | — | (3,911 | ) | 8,772 | 16,061 | 24,833 | 3,160 | 1998; 1999 | Apr. 2013 | 35 yrs. |
Cost Capitalized Subsequent to Acquisition (a) | Increase (Decrease) in Net Investments (b) | Gross Amount at which Carried at Close of Period (c) (d) | Accumulated Depreciation (d) | Date of Construction | Date Acquired | Life on which Depreciation in Latest Statement of Income is Computed | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Initial Cost to Company | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Description | Encumbrances | Land | Buildings | Land | Buildings | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Tolleson, AZ; Alsip, IL; and Solvay, NY | 6,407 | 6,080 | 23,424 | 0 | 0 | 6,080 | 23,424 | 29,504 | 6,181 | 1990; 1994; 2000 | Sep. 2012 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fitness facilities in Englewood, CO; Memphis TN; and Bedford, TX | 864 | 4,877 | 4,258 | 5,215 | 4,756 | 4,877 | 14,229 | 19,106 | 4,353 | 1990; 1995; 2001 | Sep. 2012 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Mons, Belgium | 5,136 | 1,505 | 6,026 | 653 | (408) | 1,436 | 6,340 | 7,776 | 1,608 | 1982 | Sep. 2012 | 32 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in Oceanside, CA and Concordville, PA | 1,904 | 3,333 | 8,270 | 0 | 0 | 3,333 | 8,270 | 11,603 | 2,188 | 1989; 1996 | Sep. 2012 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net-lease self-storage facilities located throughout the United States | 0 | 74,551 | 319,186 | 0 | (50) | 74,501 | 319,186 | 393,687 | 83,566 | Various | Sep. 2012 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in La Vista, NE | 18,459 | 4,196 | 23,148 | 0 | 0 | 4,196 | 23,148 | 27,344 | 5,711 | 2005 | Sep. 2012 | 33 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Pleasanton, CA | 0 | 3,675 | 7,468 | 0 | 0 | 3,675 | 7,468 | 11,143 | 1,950 | 2000 | Sep. 2012 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in San Marcos, TX | 0 | 440 | 688 | 0 | 0 | 440 | 688 | 1,128 | 179 | 2000 | Sep. 2012 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Chicago, IL | 0 | 2,169 | 19,010 | 72 | (72) | 2,169 | 19,010 | 21,179 | 4,925 | 1910 | Sep. 2012 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Hollywood and Orlando, FL | 0 | 3,639 | 1,269 | 0 | 0 | 3,639 | 1,269 | 4,908 | 329 | 1996 | Sep. 2012 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Golden, CO | 0 | 808 | 4,304 | 77 | 0 | 808 | 4,381 | 5,189 | 1,248 | 1998 | Sep. 2012 | 30 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Texarkana, TX | 0 | 1,755 | 4,493 | 0 | (2,783) | 216 | 3,249 | 3,465 | 842 | 1997 | Sep. 2012 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in South Jordan, UT | 0 | 2,183 | 11,340 | 1,642 | 0 | 2,183 | 12,982 | 15,165 | 3,220 | 1995 | Sep. 2012 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Ennis, TX | 0 | 478 | 4,087 | 145 | (145) | 478 | 4,087 | 4,565 | 1,059 | 1989 | Sep. 2012 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Braintree, MA | 0 | 2,409 | 0 | 6,184 | (1,403) | 1,006 | 6,184 | 7,190 | 1,417 | 1994 | Sep. 2012 | 30 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Paris, France | 0 | 23,387 | 43,450 | 703 | (3,010) | 22,316 | 42,214 | 64,530 | 10,481 | 1975 | Sep. 2012 | 32 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities in Bydgoszcz, Czestochowa, Jablonna, Katowice, Kielce, Lodz, Lubin, Olsztyn, Opole, Plock, Rybnik, Walbrzych, and Warsaw, Poland | 0 | 26,564 | 72,866 | 0 | (4,599) | 25,302 | 69,529 | 94,831 | 24,118 | Various | Sep. 2012 | 23 - 34 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Danbury, CT and Bedford, MA | 4,072 | 3,519 | 16,329 | 0 | 0 | 3,519 | 16,329 | 19,848 | 4,514 | 1965; 1980 | Sep. 2012 | 29 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Brownwood, TX | 0 | 722 | 6,268 | 0 | 0 | 722 | 6,268 | 6,990 | 836 | 1964 | Sep. 2012 | 15 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial and office facility in Tampere, Finland | 0 | 2,309 | 37,153 | 0 | (2,317) | 2,146 | 34,999 | 37,145 | 8,478 | 2012 | Jun. 2013 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Quincy, MA | 0 | 2,316 | 21,537 | 127 | 0 | 2,316 | 21,664 | 23,980 | 4,437 | 1989 | Jun. 2013 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Salford, United Kingdom | 0 | 0 | 30,012 | 0 | (3,825) | 0 | 26,187 | 26,187 | 4,924 | 1997 | Sep. 2013 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Lone Tree, CO | 0 | 4,761 | 28,864 | 3,381 | 0 | 4,761 | 32,245 | 37,006 | 6,750 | 2001 | Nov. 2013 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Mönchengladbach, Germany | 34,044 | 2,154 | 6,917 | 50,626 | 3,623 | 2,357 | 60,963 | 63,320 | 7,822 | 2015 | Dec. 2013 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fitness facility in Houston, TX | 0 | 2,430 | 2,270 | 0 | 0 | 2,430 | 2,270 | 4,700 | 700 | 1995 | Jan. 2014 | 23 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fitness facility in St. Charles, MO | 0 | 1,966 | 1,368 | 1,352 | 0 | 1,966 | 2,720 | 4,686 | 793 | 1987 | Jan. 2014 | 27 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Scottsdale, AZ | 0 | 22,300 | 42,329 | 0 | 0 | 22,300 | 42,329 | 64,629 | 525 | 1977 | Jan. 2014 | 34 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Aurora, CO | 0 | 737 | 2,609 | 0 | 0 | 737 | 2,609 | 3,346 | 571 | 1985 | Jan. 2014 | 32 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Burlington, NJ | 0 | 3,989 | 6,213 | 377 | 0 | 3,989 | 6,590 | 10,579 | 1,793 | 1999 | Jan. 2014 | 26 yrs. |
W. P. Carey |
Cost Capitalized Subsequent to Acquisition (a) | Increase (Decrease) in Net Investments (b) | Gross Amount at which Carried at Close of Period (c) (d) | Accumulated Depreciation (d) | Date of Construction | Date Acquired | Life on which Depreciation in Latest Statement of Income is Computed | |||||||||||||||||||||||||||
Initial Cost to Company | |||||||||||||||||||||||||||||||||
Description | Encumbrances | Land | Buildings | Land | Buildings | Total | |||||||||||||||||||||||||||
Industrial and office facility in Tampere, Finland | — | 2,309 | 37,153 | — | (5,456 | ) | 1,965 | 32,041 | 34,006 | 6,736 | 2012 | Jun. 2013 | 40 yrs. | ||||||||||||||||||||
Office facility in Quincy, MA | — | 2,316 | 21,537 | 127 | — | 2,316 | 21,664 | 23,980 | 3,842 | 1989 | Jun. 2013 | 40 yrs. | |||||||||||||||||||||
Office facility in Salford, United Kingdom | — | — | 30,012 | — | (4,679 | ) | — | 25,333 | 25,333 | 4,119 | 1997 | Sep. 2013 | 40 yrs. | ||||||||||||||||||||
Office facility in Lone Tree, CO | — | 4,761 | 28,864 | 2,927 | — | 4,761 | 31,791 | 36,552 | 5,725 | 2001 | Nov. 2013 | 40 yrs. | |||||||||||||||||||||
Office facility in Mönchengladbach, Germany | 32,182 | 2,154 | 6,917 | 50,626 | (1,728 | ) | 2,158 | 55,811 | 57,969 | 5,766 | 2015 | Dec. 2013 | 40 yrs. | ||||||||||||||||||||
Fitness facility in Houston, TX | — | 2,430 | 2,270 | — | — | 2,430 | 2,270 | 4,700 | 599 | 1995 | Jan. 2014 | 23 yrs. | |||||||||||||||||||||
Fitness facility in St. Charles, MO | — | 1,966 | 1,368 | 1,352 | — | 1,966 | 2,720 | 4,686 | 624 | 1987 | Jan. 2014 | 27 yrs. | |||||||||||||||||||||
Fitness facility in Salt Lake City, UT | — | 856 | 2,804 | — | — | 856 | 2,804 | 3,660 | 642 | 1999 | Jan. 2014 | 26 yrs. | |||||||||||||||||||||
Land in Scottsdale, AZ | 9,358 | 22,300 | — | — | — | 22,300 | — | 22,300 | — | N/A | Jan. 2014 | N/A | |||||||||||||||||||||
Industrial facility in Aurora, CO | 2,611 | 737 | 2,609 | — | — | 737 | 2,609 | 3,346 | 488 | 1985 | Jan. 2014 | 32 yrs. | |||||||||||||||||||||
Warehouse facility in Burlington, NJ | — | 3,989 | 6,213 | 377 | — | 3,989 | 6,590 | 10,579 | 1,527 | 1999 | Jan. 2014 | 26 yrs. | |||||||||||||||||||||
Industrial facility in Albuquerque, NM | — | 2,467 | 3,476 | 606 | — | 2,467 | 4,082 | 6,549 | 905 | 1993 | Jan. 2014 | 27 yrs. | |||||||||||||||||||||
Industrial facility in North Salt Lake, UT | — | 10,601 | 17,626 | — | (16,936 | ) | 4,388 | 6,903 | 11,291 | 1,560 | 1981 | Jan. 2014 | 26 yrs. | ||||||||||||||||||||
Industrial facilities in Lexington, NC and Murrysville, PA | — | 2,185 | 12,058 | — | 2,713 | 1,608 | 15,348 | 16,956 | 3,271 | 1940; 1995 | Jan. 2014 | 28 yrs. | |||||||||||||||||||||
Land in Welcome, NC | — | 980 | 11,230 | — | (11,724 | ) | 486 | — | 486 | — | N/A | Jan. 2014 | N/A | ||||||||||||||||||||
Industrial facilities in Evansville, IN; Lawrence, KS; and Baltimore, MD | — | 4,005 | 44,192 | — | — | 4,005 | 44,192 | 48,197 | 10,965 | 1911; 1967; 1982 | Jan. 2014 | 24 yrs. | |||||||||||||||||||||
Industrial facilities in Colton, CA; Bonner Springs, KS; and Dallas, TX and land in Eagan, MN | — | 8,451 | 25,457 | — | 298 | 8,451 | 25,755 | 34,206 | 5,304 | 1978; 1979; 1986 | Jan. 2014 | 17 - 34 yrs. | |||||||||||||||||||||
Retail facility in Torrance, CA | — | 8,412 | 12,241 | 1,377 | (76 | ) | 8,335 | 13,619 | 21,954 | 3,345 | 1973 | Jan. 2014 | 25 yrs. | ||||||||||||||||||||
Office facility in Houston, TX | — | 6,578 | 424 | 560 | — | 6,578 | 984 | 7,562 | 360 | 1978 | Jan. 2014 | 27 yrs. | |||||||||||||||||||||
Land in Doncaster, United Kingdom | — | 4,257 | 4,248 | — | (8,111 | ) | 394 | — | 394 | — | N/A | Jan. 2014 | N/A | ||||||||||||||||||||
Warehouse facility in Norwich, CT | 8,111 | 3,885 | 21,342 | — | 2 | 3,885 | 21,344 | 25,229 | 4,469 | 1960 | Jan. 2014 | 28 yrs. | |||||||||||||||||||||
Warehouse facility in Norwich, CT | — | 1,437 | 9,669 | — | — | 1,437 | 9,669 | 11,106 | 2,024 | 2005 | Jan. 2014 | 28 yrs. | |||||||||||||||||||||
Warehouse facility in Whitehall, PA | — | 7,435 | 9,093 | — | (4,164 | ) | 6,983 | 5,381 | 12,364 | 1,379 | 1986 | Jan. 2014 | 23 yrs. | ||||||||||||||||||||
Retail facilities in York, PA | 2,972 | 3,776 | 10,092 | — | (2,016 | ) | 2,668 | 9,184 | 11,852 | 1,853 | 1992; 2005 | Jan. 2014 | 26 - 34 yrs. | ||||||||||||||||||||
Industrial facility in Pittsburgh, PA | — | 1,151 | 10,938 | — | — | 1,151 | 10,938 | 12,089 | 2,613 | 1991 | Jan. 2014 | 25 yrs. | |||||||||||||||||||||
Warehouse facilities in Atlanta, GA and Elkwood, VA | — | 5,356 | 4,121 | — | (2,104 | ) | 4,284 | 3,089 | 7,373 | 656 | 1975 | Jan. 2014 | 28 yrs. | ||||||||||||||||||||
Warehouse facility in Harrisburg, NC | — | 1,753 | 5,840 | — | (111 | ) | 1,642 | 5,840 | 7,482 | 1,324 | 2000 | Jan. 2014 | 26 yrs. | ||||||||||||||||||||
Industrial facility in Chandler, AZ; industrial, office, and warehouse facility in Englewood, CO; and land in Englewood, CO | 3,416 | 4,306 | 7,235 | — | 3 | 4,306 | 7,238 | 11,544 | 1,415 | 1978; 1987 | Jan. 2014 | 30 yrs. |
Cost Capitalized Subsequent to Acquisition (a) | Increase (Decrease) in Net Investments (b) | Gross Amount at which Carried at Close of Period (c) (d) | Accumulated Depreciation (d) | Date of Construction | Date Acquired | Life on which Depreciation in Latest Statement of Income is Computed | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Initial Cost to Company | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Description | Encumbrances | Land | Buildings | Land | Buildings | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Albuquerque, NM | 0 | 2,467 | 3,476 | 606 | 0 | 2,467 | 4,082 | 6,549 | 1,064 | 1993 | Jan. 2014 | 27 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in North Salt Lake, UT | 0 | 10,601 | 17,626 | 0 | (16,936) | 4,388 | 6,903 | 11,291 | 1,825 | 1981 | Jan. 2014 | 26 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Lexington, NC and Murrysville, PA | 0 | 2,185 | 12,058 | 0 | 2,713 | 1,608 | 15,348 | 16,956 | 3,825 | 1940; 1995 | Jan. 2014 | 28 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Land in Welcome, NC | 0 | 980 | 11,230 | 0 | (11,724) | 486 | 0 | 486 | 0 | N/A | Jan. 2014 | N/A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Evansville, IN; Lawrence, KS; and Baltimore, MD | 0 | 4,005 | 44,192 | 0 | 0 | 4,005 | 44,192 | 48,197 | 12,823 | 1911; 1967; 1982 | Jan. 2014 | 24 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Colton, CA; Bonner Springs, KS; and Dallas, TX and land in Eagan, MN | 0 | 8,451 | 25,457 | 0 | 298 | 8,451 | 25,755 | 34,206 | 6,203 | 1978; 1979; 1986 | Jan. 2014 | 17 - 34 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Torrance, CA | 0 | 8,412 | 12,241 | 1,377 | (76) | 8,335 | 13,619 | 21,954 | 3,947 | 1973 | Jan. 2014 | 25 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Houston, TX | 0 | 6,578 | 424 | 560 | 0 | 6,578 | 984 | 7,562 | 454 | 1978 | Jan. 2014 | 27 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Land in Doncaster, United Kingdom | 0 | 4,257 | 4,248 | 0 | (8,098) | 407 | 0 | 407 | 0 | N/A | Jan. 2014 | N/A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Norwich, CT | 7,134 | 3,885 | 21,342 | 0 | 2 | 3,885 | 21,344 | 25,229 | 5,226 | 1960 | Jan. 2014 | 28 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Norwich, CT | 0 | 1,437 | 9,669 | 0 | 0 | 1,437 | 9,669 | 11,106 | 2,367 | 2005 | Jan. 2014 | 28 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Land in Whitehall, PA | 0 | 7,435 | 9,093 | 0 | (9,545) | 6,983 | 0 | 6,983 | 0 | N/A | Jan. 2014 | N/A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities in York, PA | 2,972 | 3,776 | 10,092 | 0 | (2,016) | 2,668 | 9,184 | 11,852 | 2,138 | 1992; 2005 | Jan. 2014 | 26 - 34 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Pittsburgh, PA | 0 | 1,151 | 10,938 | 0 | 0 | 1,151 | 10,938 | 12,089 | 3,056 | 1991 | Jan. 2014 | 25 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in Atlanta, GA and Elkwood, VA | 0 | 5,356 | 4,121 | 0 | (2,104) | 4,284 | 3,089 | 7,373 | 767 | 1975 | Jan. 2014 | 28 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Harrisburg, NC | 0 | 1,753 | 5,840 | 0 | (111) | 1,642 | 5,840 | 7,482 | 1,548 | 2000 | Jan. 2014 | 26 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Chandler, AZ; industrial, office, and warehouse facility in Englewood, CO; and land in Englewood, CO | 2,829 | 4,306 | 7,235 | 0 | 3 | 4,306 | 7,238 | 11,544 | 1,655 | 1978; 1987 | Jan. 2014 | 30 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Cynthiana, KY | 1,411 | 1,274 | 3,505 | 525 | (107) | 1,274 | 3,923 | 5,197 | 958 | 1967 | Jan. 2014 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Columbia, SC | 0 | 2,843 | 11,886 | 0 | 0 | 2,843 | 11,886 | 14,729 | 3,640 | 1962 | Jan. 2014 | 23 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Movie theater in Midlothian, VA | 0 | 2,824 | 16,618 | 0 | 0 | 2,824 | 16,618 | 19,442 | 1,128 | 2000 | Jan. 2014 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net-lease student housing facility in Laramie, WY | 0 | 1,966 | 18,896 | 0 | 0 | 1,966 | 18,896 | 20,862 | 4,846 | 2007 | Jan. 2014 | 33 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Greenville, SC | 6,881 | 562 | 7,916 | 0 | (949) | 474 | 7,055 | 7,529 | 2,195 | 1972 | Jan. 2014 | 25 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in Mendota, IL; Toppenish, WA; and Plover, WI | 0 | 1,444 | 21,208 | 0 | (623) | 1,382 | 20,647 | 22,029 | 6,370 | 1996 | Jan. 2014 | 23 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Allen, TX and office facility in Sunnyvale, CA | 0 | 9,297 | 24,086 | 0 | (42) | 9,255 | 24,086 | 33,341 | 5,388 | 1981; 1997 | Jan. 2014 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Hampton, NH | 5,002 | 8,990 | 7,362 | 0 | 0 | 8,990 | 7,362 | 16,352 | 1,678 | 1976 | Jan. 2014 | 30 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities located throughout France | 0 | 36,306 | 5,212 | 337 | 11,470 | 29,029 | 24,296 | 53,325 | 1,895 | Various | Jan. 2014 | 23 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Fairfax, VA | 0 | 3,402 | 16,353 | 0 | 0 | 3,402 | 16,353 | 19,755 | 4,295 | 1998 | Jan. 2014 | 26 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Lombard, IL | 0 | 5,087 | 8,578 | 0 | 0 | 5,087 | 8,578 | 13,665 | 2,253 | 1999 | Jan. 2014 | 26 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Plainfield, IN | 17,350 | 1,578 | 29,415 | 706 | 0 | 1,578 | 30,121 | 31,699 | 6,707 | 1997 | Jan. 2014 | 30 yrs. |
W. P. Carey |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Increase (Decrease) in Net Investments (b) | Gross Amount at which Carried at Close of Period (c) (d) | Accumulated Depreciation (d) | Date of Construction | Date Acquired | Life on which Depreciation in Latest Statement of Income is Computed | ||||||||||||||||||||||||||
Description | Encumbrances | Land | Buildings | Land | Buildings | Total | |||||||||||||||||||||||||||
Industrial facility in Cynthiana, KY | 1,672 | 1,274 | 3,505 | 525 | (107 | ) | 1,274 | 3,923 | 5,197 | 807 | 1967 | Jan. 2014 | 31 yrs. | ||||||||||||||||||||
Industrial facility in Columbia, SC | — | 2,843 | 11,886 | — | — | 2,843 | 11,886 | 14,729 | 3,112 | 1962 | Jan. 2014 | 23 yrs. | |||||||||||||||||||||
Movie theater in Midlothian, VA | — | 2,824 | 16,618 | — | — | 2,824 | 16,618 | 19,442 | 514 | 2000 | Jan. 2014 | 40 yrs. | |||||||||||||||||||||
Net-lease student housing facility in Laramie, WY | — | 1,966 | 18,896 | — | — | 1,966 | 18,896 | 20,862 | 4,308 | 2007 | Jan. 2014 | 33 yrs. | |||||||||||||||||||||
Office facility in Greenville, SC | 7,311 | 562 | 7,916 | — | 43 | 562 | 7,959 | 8,521 | 1,877 | 1972 | Jan. 2014 | 25 yrs. | |||||||||||||||||||||
Warehouse facilities in Mendota, IL; Toppenish, WA; and Plover, WI | — | 1,444 | 21,208 | — | (623 | ) | 1,382 | 20,647 | 22,029 | 5,447 | 1996 | Jan. 2014 | 23 yrs. | ||||||||||||||||||||
Industrial facility in Allen, TX and office facility in Sunnyvale, CA | — | 9,297 | 24,086 | — | (42 | ) | 9,255 | 24,086 | 33,341 | 4,607 | 1981; 1997 | Jan. 2014 | 31 yrs. | ||||||||||||||||||||
Industrial facilities in Hampton, NH | 6,067 | 8,990 | 7,362 | — | — | 8,990 | 7,362 | 16,352 | 1,435 | 1976 | Jan. 2014 | 30 yrs. | |||||||||||||||||||||
Industrial facilities located throughout France | — | 36,306 | 5,212 | — | (8,126 | ) | 29,091 | 4,301 | 33,392 | 1,111 | Various | Jan. 2014 | 23 yrs. | ||||||||||||||||||||
Retail facility in Fairfax, VA | — | 3,402 | 16,353 | — | — | 3,402 | 16,353 | 19,755 | 3,672 | 1998 | Jan. 2014 | 26 yrs. | |||||||||||||||||||||
Retail facility in Lombard, IL | — | 5,087 | 8,578 | — | — | 5,087 | 8,578 | 13,665 | 1,926 | 1999 | Jan. 2014 | 26 yrs. | |||||||||||||||||||||
Warehouse facility in Plainfield, IN | 18,054 | 1,578 | 29,415 | — | — | 1,578 | 29,415 | 30,993 | 5,735 | 1997 | Jan. 2014 | 30 yrs. | |||||||||||||||||||||
Retail facility in Kennesaw, GA | 2,395 | 2,849 | 6,180 | 5,530 | (76 | ) | 2,773 | 11,710 | 14,483 | 2,174 | 1999 | Jan. 2014 | 26 yrs. | ||||||||||||||||||||
Retail facility in Leawood, KS | 7,750 | 1,487 | 13,417 | — | — | 1,487 | 13,417 | 14,904 | 3,013 | 1997 | Jan. 2014 | 26 yrs. | |||||||||||||||||||||
Office facility in Tolland, CT | 7,328 | 1,817 | 5,709 | — | 11 | 1,817 | 5,720 | 7,537 | 1,234 | 1968 | Jan. 2014 | 28 yrs. | |||||||||||||||||||||
Warehouse facilities in Lincolnton, NC and Mauldin, SC | 9,006 | 1,962 | 9,247 | — | — | 1,962 | 9,247 | 11,209 | 1,948 | 1988; 1996 | Jan. 2014 | 28 yrs. | |||||||||||||||||||||
Retail facilities located throughout Germany | — | 81,109 | 153,927 | 10,510 | (127,152 | ) | 29,403 | 88,991 | 118,394 | 16,834 | Various | Jan. 2014 | Various | ||||||||||||||||||||
Industrial and office facility in Marktheidenfeld, Germany | — | 1,303 | 16,116 | — | 551 | 1,344 | 16,626 | 17,970 | 105 | 2002 | Jan. 2014 | 40 yrs. | |||||||||||||||||||||
Office facility in Southfield, MI | — | 1,726 | 4,856 | 89 | — | 1,726 | 4,945 | 6,671 | 943 | 1985 | Jan. 2014 | 31 yrs. | |||||||||||||||||||||
Office facility in The Woodlands, TX | 17,072 | 3,204 | 24,997 | — | — | 3,204 | 24,997 | 28,201 | 4,693 | 1997 | Jan. 2014 | 32 yrs. | |||||||||||||||||||||
Warehouse facilities in Valdosta, GA and Johnson City, TN | — | 1,080 | 14,998 | 1,688 | — | 1,080 | 16,686 | 17,766 | 3,392 | 1978; 1998 | Jan. 2014 | 27 yrs. | |||||||||||||||||||||
Industrial facility in Amherst, NY | 7,021 | 674 | 7,971 | — | — | 674 | 7,971 | 8,645 | 2,103 | 1984 | Jan. 2014 | 23 yrs. | |||||||||||||||||||||
Industrial and warehouse facilities in Westfield, MA | — | 1,922 | 9,755 | 7,435 | 9 | 1,922 | 17,199 | 19,121 | 3,451 | 1954; 1997 | Jan. 2014 | 28 yrs. | |||||||||||||||||||||
Warehouse facilities in Kottka, Finland | — | — | 8,546 | — | (1,493 | ) | — | 7,053 | 7,053 | 1,910 | 1999; 2001 | Jan. 2014 | 21 - 23 yrs. | ||||||||||||||||||||
Office facility in Bloomington, MN | — | 2,942 | 7,155 | — | — | 2,942 | 7,155 | 10,097 | 1,494 | 1988 | Jan. 2014 | 28 yrs. | |||||||||||||||||||||
Warehouse facility in Gorinchem, Netherlands | 3,131 | 1,143 | 5,648 | — | (1,186 | ) | 944 | 4,661 | 5,605 | 973 | 1995 | Jan. 2014 | 28 yrs. | ||||||||||||||||||||
Retail facility in Cresskill, NJ | — | 2,366 | 5,482 | — | 19 | 2,366 | 5,501 | 7,867 | 1,044 | 1975 | Jan. 2014 | 31 yrs. | |||||||||||||||||||||
Retail facility in Livingston, NJ | — | 2,932 | 2,001 | — | 14 | 2,932 | 2,015 | 4,947 | 439 | 1966 | Jan. 2014 | 27 yrs. | |||||||||||||||||||||
Retail facility in Maplewood, NJ | — | 845 | 647 | — | 4 | 845 | 651 | 1,496 | 142 | 1954 | Jan. 2014 | 27 yrs. |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Increase (Decrease) in Net Investments (b) | Gross Amount at which Carried at Close of Period (c) (d) | Accumulated Depreciation (d) | Date of Construction | Date Acquired | Life on which Depreciation in Latest Statement of Income is Computed | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Description | Encumbrances | Land | Buildings | Land | Buildings | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Kennesaw, GA | 0 | 2,849 | 6,180 | 5,530 | (76) | 2,773 | 11,710 | 14,483 | 2,772 | 1999 | Jan. 2014 | 26 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Leawood, KS | 0 | 1,487 | 13,417 | 0 | 0 | 1,487 | 13,417 | 14,904 | 3,524 | 1997 | Jan. 2014 | 26 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Tolland, CT | 7,098 | 1,817 | 5,709 | 0 | 11 | 1,817 | 5,720 | 7,537 | 1,443 | 1968 | Jan. 2014 | 28 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in Lincolnton, NC and Mauldin, SC | 8,707 | 1,962 | 9,247 | 0 | 0 | 1,962 | 9,247 | 11,209 | 2,278 | 1988; 1996 | Jan. 2014 | 28 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities located throughout Germany | 0 | 81,109 | 153,927 | 10,510 | (126,616) | 30,270 | 88,660 | 118,930 | 19,783 | Various | Jan. 2014 | Various | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Southfield, MI | 0 | 1,726 | 4,856 | 89 | 0 | 1,726 | 4,945 | 6,671 | 1,104 | 1985 | Jan. 2014 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in The Woodlands, TX | 16,015 | 3,204 | 24,997 | 0 | 0 | 3,204 | 24,997 | 28,201 | 5,489 | 1997 | Jan. 2014 | 32 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in Valdosta, GA and Johnson City, TN | 0 | 1,080 | 14,998 | 1,841 | 0 | 1,080 | 16,839 | 17,919 | 4,057 | 1978; 1998 | Jan. 2014 | 27 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Amherst, NY | 6,661 | 674 | 7,971 | 0 | 0 | 674 | 7,971 | 8,645 | 2,459 | 1984 | Jan. 2014 | 23 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial and warehouse facilities in Westfield, MA | 0 | 1,922 | 9,755 | 7,435 | 9 | 1,922 | 17,199 | 19,121 | 4,251 | 1954; 1997 | Jan. 2014 | 28 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in Kottka, Finland | 0 | 0 | 8,546 | 0 | (3,663) | 0 | 4,883 | 4,883 | 2,440 | 1999; 2001 | Jan. 2014 | 21 - 23 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Bloomington, MN | 0 | 2,942 | 7,155 | 0 | 0 | 2,942 | 7,155 | 10,097 | 1,747 | 1988 | Jan. 2014 | 28 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Gorinchem, Netherlands | 3,200 | 1,143 | 5,648 | 0 | (669) | 1,031 | 5,091 | 6,122 | 1,243 | 1995 | Jan. 2014 | 28 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Cresskill, NJ | 0 | 2,366 | 5,482 | 0 | 19 | 2,366 | 5,501 | 7,867 | 1,221 | 1975 | Jan. 2014 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Livingston, NJ | 0 | 2,932 | 2,001 | 0 | 14 | 2,932 | 2,015 | 4,947 | 513 | 1966 | Jan. 2014 | 27 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Maplewood, NJ | 0 | 845 | 647 | 0 | 4 | 845 | 651 | 1,496 | 166 | 1954 | Jan. 2014 | 27 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Montclair, NJ | 0 | 1,905 | 1,403 | 0 | 6 | 1,905 | 1,409 | 3,314 | 359 | 1950 | Jan. 2014 | 27 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Morristown, NJ | 0 | 3,258 | 8,352 | 0 | 26 | 3,258 | 8,378 | 11,636 | 2,133 | 1973 | Jan. 2014 | 27 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Summit, NJ | 0 | 1,228 | 1,465 | 0 | 8 | 1,228 | 1,473 | 2,701 | 375 | 1950 | Jan. 2014 | 27 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial and office facilities in Dransfeld and Wolfach, Germany | 0 | 2,789 | 8,750 | 0 | (2,589) | 2,368 | 6,582 | 8,950 | 1,871 | 1898; 1978 | Jan. 2014 | 24 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Georgetown, TX and Woodland, WA | 0 | 965 | 4,113 | 0 | 0 | 965 | 4,113 | 5,078 | 843 | 1998; 2001 | Jan. 2014 | 33 - 35 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Education facilities in Union, NJ; Allentown and Philadelphia, PA; and Grand Prairie, TX | 0 | 5,365 | 7,845 | 0 | 5 | 5,365 | 7,850 | 13,215 | 1,951 | Various | Jan. 2014 | 28 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Salisbury, NC | 0 | 1,499 | 8,185 | 0 | 0 | 1,499 | 8,185 | 9,684 | 2,040 | 2000 | Jan. 2014 | 28 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Solon and Twinsburg, OH and office facility in Plymouth, MI | 0 | 2,831 | 10,565 | 386 | 0 | 2,831 | 10,951 | 13,782 | 2,693 | 1970; 1991; 1995 | Jan. 2014 | 26 - 27 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Cambridge, Canada | 0 | 1,849 | 7,371 | 0 | (1,130) | 1,622 | 6,468 | 8,090 | 1,432 | 2001 | Jan. 2014 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Peru, IL; Huber Heights, Lima, and Sheffield, OH; and Lebanon, TN | 6,860 | 2,962 | 17,832 | 0 | 0 | 2,962 | 17,832 | 20,794 | 3,947 | Various | Jan. 2014 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Ramos Arizpe, Mexico | 0 | 1,059 | 2,886 | 0 | 0 | 1,059 | 2,886 | 3,945 | 637 | 2000 | Jan. 2014 | 31 yrs. |
W. P. Carey |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Increase (Decrease) in Net Investments (b) | Gross Amount at which Carried at Close of Period (c) (d) | Accumulated Depreciation (d) | Date of Construction | Date Acquired | Life on which Depreciation in Latest Statement of Income is Computed | ||||||||||||||||||||||||||
Description | Encumbrances | Land | Buildings | Land | Buildings | Total | |||||||||||||||||||||||||||
Retail facility in Montclair, NJ | — | 1,905 | 1,403 | — | 6 | 1,905 | 1,409 | 3,314 | 307 | 1950 | Jan. 2014 | 27 yrs. | |||||||||||||||||||||
Retail facility in Morristown, NJ | — | 3,258 | 8,352 | — | 26 | 3,258 | 8,378 | 11,636 | 1,824 | 1973 | Jan. 2014 | 27 yrs. | |||||||||||||||||||||
Retail facility in Summit, NJ | — | 1,228 | 1,465 | — | 8 | 1,228 | 1,473 | 2,701 | 321 | 1950 | Jan. 2014 | 27 yrs. | |||||||||||||||||||||
Industrial and office facilities in Dransfeld and Wolfach, Germany | — | 2,789 | 8,750 | — | (3,345 | ) | 2,168 | 6,026 | 8,194 | 1,465 | 1898; 1978 | Jan. 2014 | 24 yrs. | ||||||||||||||||||||
Industrial facilities in Georgetown, TX and Woodland, WA | — | 965 | 4,113 | — | — | 965 | 4,113 | 5,078 | 721 | 1998; 2001 | Jan. 2014 | 33 - 35 yrs. | |||||||||||||||||||||
Education facilities in Union, NJ; Allentown and Philadelphia, PA; and Grand Prairie, TX | — | 5,365 | 7,845 | — | 5 | 5,365 | 7,850 | 13,215 | 1,668 | Various | Jan. 2014 | 28 yrs. | |||||||||||||||||||||
Industrial facility in Salisbury, NC | — | 1,499 | 8,185 | — | — | 1,499 | 8,185 | 9,684 | 1,744 | 2000 | Jan. 2014 | 28 yrs. | |||||||||||||||||||||
Industrial facilities in Solon and Twinsburg, OH and office facility in Plymouth, MI | — | 2,831 | 10,565 | — | — | 2,831 | 10,565 | 13,396 | 2,298 | 1970; 1991; 1995 | Jan. 2014 | 26 - 27 yrs. | |||||||||||||||||||||
Industrial facility in Cambridge, Canada | — | 1,849 | 7,371 | — | (1,288 | ) | 1,591 | 6,341 | 7,932 | 1,200 | 2001 | Jan. 2014 | 31 yrs. | ||||||||||||||||||||
Industrial facilities in Peru, IL; Huber Heights, Lima, and Sheffield, OH; and Lebanon, TN | 8,073 | 2,962 | 17,832 | — | — | 2,962 | 17,832 | 20,794 | 3,375 | Various | Jan. 2014 | 31 yrs. | |||||||||||||||||||||
Industrial facility in Ramos Arizpe, Mexico | — | 1,059 | 2,886 | — | — | 1,059 | 2,886 | 3,945 | 545 | 2000 | Jan. 2014 | 31 yrs. | |||||||||||||||||||||
Industrial facilities in Salt Lake City, UT | — | 2,783 | 3,773 | — | — | 2,783 | 3,773 | 6,556 | 714 | 1983; 2002 | Jan. 2014 | 31 - 33 yrs. | |||||||||||||||||||||
Net-lease student housing facility in Blairsville, PA | 8,821 | 1,631 | 23,163 | — | — | 1,631 | 23,163 | 24,794 | 5,051 | 2005 | Jan. 2014 | 33 yrs. | |||||||||||||||||||||
Warehouse facilities in Atlanta, Doraville, and Rockmart, GA | — | 6,488 | 77,192 | — | — | 6,488 | 77,192 | 83,680 | 16,002 | 1959; 1962; 1991 | Jan. 2014 | 23 - 33 yrs. | |||||||||||||||||||||
Warehouse facilities in Flora, MS and Muskogee, OK | 3,106 | 554 | 4,353 | — | — | 554 | 4,353 | 4,907 | 786 | 1992; 2002 | Jan. 2014 | 33 yrs. | |||||||||||||||||||||
Industrial facility in Richmond, MO | — | 2,211 | 8,505 | 747 | — | 2,211 | 9,252 | 11,463 | 1,874 | 1996 | Jan. 2014 | 28 yrs. | |||||||||||||||||||||
Industrial facility in Tuusula, Finland | — | 6,173 | 10,321 | — | (2,881 | ) | 5,095 | 8,518 | 13,613 | 1,975 | 1975 | Jan. 2014 | 26 yrs. | ||||||||||||||||||||
Office facility in Turku, Finland | — | 5,343 | 34,106 | — | (6,893 | ) | 4,409 | 28,147 | 32,556 | 5,981 | 1981 | Jan. 2014 | 28 yrs. | ||||||||||||||||||||
Industrial facility in Turku, Finland | — | 1,105 | 10,243 | — | (1,967 | ) | 912 | 8,469 | 9,381 | 1,806 | 1981 | Jan. 2014 | 28 yrs. | ||||||||||||||||||||
Industrial facility in Baraboo, WI | — | 917 | 10,663 | — | — | 917 | 10,663 | 11,580 | 4,821 | 1988 | Jan. 2014 | 13 yrs. | |||||||||||||||||||||
Warehouse facility in Phoenix, AZ | 16,836 | 6,747 | 21,352 | — | — | 6,747 | 21,352 | 28,099 | 4,550 | 1996 | Jan. 2014 | 28 yrs. | |||||||||||||||||||||
Land in Calgary, Canada | — | 3,721 | — | — | (520 | ) | 3,201 | — | 3,201 | — | N/A | Jan. 2014 | N/A | ||||||||||||||||||||
Industrial facilities in Sandersville, GA; Erwin, TN; and Gainesville, TX | 1,541 | 955 | 4,779 | — | — | 955 | 4,779 | 5,734 | 912 | 1950; 1986; 1996 | Jan. 2014 | 31 yrs. | |||||||||||||||||||||
Industrial facility in Buffalo Grove, IL | 4,926 | 1,492 | 12,233 | — | — | 1,492 | 12,233 | 13,725 | 2,340 | 1996 | Jan. 2014 | 31 yrs. | |||||||||||||||||||||
Warehouse facility in Spanish Fork, UT | — | 991 | 7,901 | — | — | 991 | 7,901 | 8,892 | 1,430 | 2001 | Jan. 2014 | 33 yrs. |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Increase (Decrease) in Net Investments (b) | Gross Amount at which Carried at Close of Period (c) (d) | Accumulated Depreciation (d) | Date of Construction | Date Acquired | Life on which Depreciation in Latest Statement of Income is Computed | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Description | Encumbrances | Land | Buildings | Land | Buildings | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Salt Lake City, UT | 0 | 2,783 | 3,773 | 0 | 0 | 2,783 | 3,773 | 6,556 | 835 | 1983; 2002 | Jan. 2014 | 31 - 33 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net-lease student housing facility in Blairsville, PA | 7,860 | 1,631 | 23,163 | 0 | 0 | 1,631 | 23,163 | 24,794 | 5,719 | 2005 | Jan. 2014 | 33 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Education facility in Mooresville, NC | 1,503 | 1,795 | 15,955 | 0 | 0 | 1,795 | 15,955 | 17,750 | 0 | 2002 | Jan. 2014 | 33 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in Atlanta, Doraville, and Rockmart, GA | 0 | 6,488 | 77,192 | 0 | 0 | 6,488 | 77,192 | 83,680 | 18,714 | 1959; 1962; 1991 | Jan. 2014 | 23 - 33 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in Flora, MS and Muskogee, OK | 3,017 | 554 | 4,353 | 0 | 0 | 554 | 4,353 | 4,907 | 919 | 1992; 2002 | Jan. 2014 | 33 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Richmond, MO | 0 | 2,211 | 8,505 | 747 | 0 | 2,211 | 9,252 | 11,463 | 2,229 | 1996 | Jan. 2014 | 28 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Tuusula, Finland | 0 | 6,173 | 10,321 | 0 | (1,625) | 5,565 | 9,304 | 14,869 | 2,524 | 1975 | Jan. 2014 | 26 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Turku, Finland | 0 | 5,343 | 34,106 | 385 | (3,888) | 4,816 | 31,130 | 35,946 | 7,640 | 1981 | Jan. 2014 | 28 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Turku, Finland | 0 | 1,105 | 10,243 | 0 | (1,101) | 996 | 9,251 | 10,247 | 2,307 | 1981 | Jan. 2014 | 28 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Baraboo, WI | 0 | 917 | 10,663 | 0 | 0 | 917 | 10,663 | 11,580 | 5,638 | 1988 | Jan. 2014 | 13 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Phoenix, AZ | 0 | 6,747 | 21,352 | 380 | 0 | 6,747 | 21,732 | 28,479 | 5,366 | 1996 | Jan. 2014 | 28 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Land in Calgary, Canada | 0 | 3,721 | 0 | 0 | (456) | 3,265 | 0 | 3,265 | 0 | N/A | Jan. 2014 | N/A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Sandersville, GA; Erwin, TN; and Gainesville, TX | 1,291 | 955 | 4,779 | 0 | 0 | 955 | 4,779 | 5,734 | 1,066 | 1950; 1986; 1996 | Jan. 2014 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Buffalo Grove, IL | 4,244 | 1,492 | 12,233 | 0 | 0 | 1,492 | 12,233 | 13,725 | 2,736 | 1996 | Jan. 2014 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in West Jordan, UT and Tacoma, WA; office facility in Eugene, OR; and warehouse facility in Perris, CA | 0 | 8,989 | 5,435 | 0 | 8 | 8,989 | 5,443 | 14,432 | 1,341 | Various | Jan. 2014 | 28 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Carlsbad, CA | 0 | 3,230 | 5,492 | 0 | 0 | 3,230 | 5,492 | 8,722 | 1,610 | 1999 | Jan. 2014 | 24 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Movie theater in Pensacola, FL | 0 | 1,746 | 0 | 0 | 5,181 | 1,746 | 5,181 | 6,927 | 51 | 2001 | Jan. 2014 | 33 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Movie theater in Port St. Lucie, FL | 0 | 4,654 | 2,576 | 0 | 0 | 4,654 | 2,576 | 7,230 | 652 | 2000 | Jan. 2014 | 27 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Nurieux-Volognat, France | 0 | 121 | 5,328 | 0 | (427) | 109 | 4,913 | 5,022 | 1,051 | 2000 | Jan. 2014 | 32 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Suwanee, GA | 0 | 2,330 | 8,406 | 0 | 0 | 2,330 | 8,406 | 10,736 | 1,719 | 1995 | Jan. 2014 | 34 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities in Wichita, KS and Oklahoma City, OK and warehouse facility in Wichita, KS | 0 | 1,878 | 8,579 | 3,128 | 0 | 1,878 | 11,707 | 13,585 | 2,550 | 1954; 1975; 1984 | Jan. 2014 | 24 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Fort Dodge, IA and Menomonie and Oconomowoc, WI | 6,959 | 1,403 | 11,098 | 0 | 0 | 1,403 | 11,098 | 12,501 | 4,724 | 1996 | Jan. 2014 | 16 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Mesa, AZ | 0 | 2,888 | 4,282 | 0 | 0 | 2,888 | 4,282 | 7,170 | 1,087 | 1991 | Jan. 2014 | 27 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in North Amityville, NY | 0 | 3,486 | 11,413 | 0 | 0 | 3,486 | 11,413 | 14,899 | 3,036 | 1981 | Jan. 2014 | 26 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Greenville, SC | 0 | 567 | 10,217 | 760 | (3,213) | 370 | 7,961 | 8,331 | 2,446 | 1960 | Jan. 2014 | 21 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Fort Collins, CO | 0 | 821 | 7,236 | 0 | 0 | 821 | 7,236 | 8,057 | 1,524 | 1993 | Jan. 2014 | 33 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Elk Grove Village, IL | 0 | 4,037 | 7,865 | 0 | 0 | 4,037 | 7,865 | 11,902 | 408 | 1980 | Jan. 2014 | 22 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Washington, MI | 0 | 4,085 | 7,496 | 0 | 0 | 4,085 | 7,496 | 11,581 | 1,583 | 1990 | Jan. 2014 | 33 yrs. |
W. P. Carey |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Increase (Decrease) in Net Investments (b) | Gross Amount at which Carried at Close of Period (c) (d) | Accumulated Depreciation (d) | Date of Construction | Date Acquired | Life on which Depreciation in Latest Statement of Income is Computed | ||||||||||||||||||||||||||
Description | Encumbrances | Land | Buildings | Land | Buildings | Total | |||||||||||||||||||||||||||
Industrial facilities in West Jordan, UT and Tacoma, WA; office facility in Eugene, OR; and warehouse facility in Perris, CA | — | 8,989 | 5,435 | — | 8 | 8,989 | 5,443 | 14,432 | 1,146 | Various | Jan. 2014 | 28 yrs. | |||||||||||||||||||||
Office facility in Carlsbad, CA | — | 3,230 | 5,492 | — | — | 3,230 | 5,492 | 8,722 | 1,377 | 1999 | Jan. 2014 | 24 yrs. | |||||||||||||||||||||
Land in Pensacola, FL | — | 1,746 | — | — | — | 1,746 | — | 1,746 | — | N/A | Jan. 2014 | N/A | |||||||||||||||||||||
Movie theater in Port St. Lucie, FL | — | 4,654 | 2,576 | — | — | 4,654 | 2,576 | 7,230 | 557 | 2000 | Jan. 2014 | 27 yrs. | |||||||||||||||||||||
Movie theater in Hickory Creek, TX | — | 1,693 | 3,342 | — | — | 1,693 | 3,342 | 5,035 | 739 | 2000 | Jan. 2014 | 27 yrs. | |||||||||||||||||||||
Industrial facility in Nurieux-Volognat, France | — | 121 | 5,328 | — | (852 | ) | 99 | 4,498 | 4,597 | 823 | 2000 | Jan. 2014 | 32 yrs. | ||||||||||||||||||||
Warehouse facility in Suwanee, GA | — | 2,330 | 8,406 | — | — | 2,330 | 8,406 | 10,736 | 1,470 | 1995 | Jan. 2014 | 34 yrs. | |||||||||||||||||||||
Retail facilities in Wichita, KS and Oklahoma City, OK and warehouse facility in Wichita, KS | — | 1,878 | 8,579 | — | — | 1,878 | 8,579 | 10,457 | 2,167 | 1954; 1975; 1984 | Jan. 2014 | 24 yrs. | |||||||||||||||||||||
Industrial facilities in Fort Dodge, IA and Menomonie and Oconomowoc, WI | 7,337 | 1,403 | 11,098 | — | — | 1,403 | 11,098 | 12,501 | 4,039 | 1996 | Jan. 2014 | 16 yrs. | |||||||||||||||||||||
Industrial facility in Mesa, AZ | 3,864 | 2,888 | 4,282 | — | — | 2,888 | 4,282 | 7,170 | 929 | 1991 | Jan. 2014 | 27 yrs. | |||||||||||||||||||||
Industrial facility in North Amityville, NY | — | 3,486 | 11,413 | — | — | 3,486 | 11,413 | 14,899 | 2,596 | 1981 | Jan. 2014 | 26 yrs. | |||||||||||||||||||||
Warehouse facilities in Greenville, SC | — | 567 | 10,217 | — | (1,330 | ) | 454 | 9,000 | 9,454 | 2,938 | 1960 | Jan. 2014 | 21 yrs. | ||||||||||||||||||||
Industrial facility in Fort Collins, CO | — | 821 | 7,236 | — | — | 821 | 7,236 | 8,057 | 1,303 | 1993 | Jan. 2014 | 33 yrs. | |||||||||||||||||||||
Warehouse facility in Elk Grove Village, IL | — | 4,037 | 7,865 | — | — | 4,037 | 7,865 | 11,902 | 32 | 1980 | Jan. 2014 | 22 yrs. | |||||||||||||||||||||
Office facility in Washington, MI | — | 4,085 | 7,496 | — | — | 4,085 | 7,496 | 11,581 | 1,354 | 1990 | Jan. 2014 | 33 yrs. | |||||||||||||||||||||
Office facility in Houston, TX | — | 522 | 7,448 | 227 | — | 522 | 7,675 | 8,197 | 1,724 | 1999 | Jan. 2014 | 27 yrs. | |||||||||||||||||||||
Industrial facilities in Conroe, Odessa, and Weimar, TX and industrial and office facility in Houston, TX | 4,613 | 4,049 | 13,021 | — | 133 | 4,049 | 13,154 | 17,203 | 4,167 | Various | Jan. 2014 | 12 - 22 yrs. | |||||||||||||||||||||
Education facility in Sacramento, CA | 25,542 | — | 13,715 | — | — | — | 13,715 | 13,715 | 2,428 | 2005 | Jan. 2014 | 34 yrs. | |||||||||||||||||||||
Industrial facilities in City of Industry, CA; Chelmsford, MA; and Lancaster, TX | — | 5,138 | 8,387 | — | 43 | 5,138 | 8,430 | 13,568 | 1,799 | 1969; 1974; 1984 | Jan. 2014 | 27 yrs. | |||||||||||||||||||||
Office facility in Tinton Falls, NJ | — | 1,958 | 7,993 | 725 | — | 1,958 | 8,718 | 10,676 | 1,562 | 2001 | Jan. 2014 | 31 yrs. | |||||||||||||||||||||
Industrial facility in Woodland, WA | — | 707 | 1,562 | — | — | 707 | 1,562 | 2,269 | 262 | 2009 | Jan. 2014 | 35 yrs. | |||||||||||||||||||||
Warehouse facilities in Gyál and Herceghalom, Hungary | — | 14,601 | 21,915 | — | (6,379 | ) | 12,050 | 18,087 | 30,137 | 5,239 | 2002; 2004 | Jan. 2014 | 21 yrs. | ||||||||||||||||||||
Industrial facility in Windsor, CT | — | 453 | 637 | 3,422 | (83 | ) | 453 | 3,976 | 4,429 | 363 | 1999 | Jan. 2014 | 33 yrs. | ||||||||||||||||||||
Industrial facility in Aurora, CO | 2,482 | 574 | 3,999 | — | — | 574 | 3,999 | 4,573 | 603 | 2012 | Jan. 2014 | 40 yrs. | |||||||||||||||||||||
Office facility in Chandler, AZ | — | 5,318 | 27,551 | 19 | — | 5,318 | 27,570 | 32,888 | 4,608 | 2000 | Mar. 2014 | 40 yrs. | |||||||||||||||||||||
Warehouse facility in University Park, IL | — | 7,962 | 32,756 | 221 | — | 7,962 | 32,977 | 40,939 | 5,305 | 2008 | May 2014 | 40 yrs. |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Increase (Decrease) in Net Investments (b) | Gross Amount at which Carried at Close of Period (c) (d) | Accumulated Depreciation (d) | Date of Construction | Date Acquired | Life on which Depreciation in Latest Statement of Income is Computed | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Description | Encumbrances | Land | Buildings | Land | Buildings | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Houston, TX | 0 | 522 | 7,448 | 227 | 0 | 522 | 7,675 | 8,197 | 2,020 | 1999 | Jan. 2014 | 27 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Conroe, Odessa, and Weimar, TX and industrial and office facility in Houston, TX | 4,031 | 4,049 | 13,021 | 0 | 133 | 4,049 | 13,154 | 17,203 | 4,874 | Various | Jan. 2014 | 12 - 22 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Education facility in Sacramento, CA | 25,017 | 0 | 13,715 | 0 | 0 | 0 | 13,715 | 13,715 | 2,839 | 2005 | Jan. 2014 | 34 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Sankt Ingbert, Germany | 0 | 2,226 | 17,460 | 0 | 2,524 | 2,511 | 19,699 | 22,210 | 395 | 1960 | Jan. 2014 | 34 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in City of Industry, CA; Chelmsford, MA; and Lancaster, TX | 0 | 5,138 | 8,387 | 0 | 43 | 5,138 | 8,430 | 13,568 | 2,104 | 1969; 1974; 1984 | Jan. 2014 | 27 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Tinton Falls, NJ | 0 | 1,958 | 7,993 | 725 | 0 | 1,958 | 8,718 | 10,676 | 1,867 | 2001 | Jan. 2014 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Woodland, WA | 0 | 707 | 1,562 | 0 | 0 | 707 | 1,562 | 2,269 | 306 | 2009 | Jan. 2014 | 35 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in Gyál and Herceghalom, Hungary | 0 | 14,601 | 21,915 | 0 | (3,598) | 13,162 | 19,756 | 32,918 | 6,693 | 2002; 2004 | Jan. 2014 | 21 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Windsor, CT | 0 | 453 | 637 | 3,422 | (83) | 453 | 3,976 | 4,429 | 466 | 1999 | Jan. 2014 | 33 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Aurora, CO | 0 | 574 | 3,999 | 0 | 0 | 574 | 3,999 | 4,573 | 705 | 2012 | Jan. 2014 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Chandler, AZ | 0 | 5,318 | 27,551 | 105 | 0 | 5,318 | 27,656 | 32,974 | 5,412 | 2000 | Mar. 2014 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in University Park, IL | 0 | 7,962 | 32,756 | 221 | 0 | 7,962 | 32,977 | 40,939 | 6,247 | 2008 | May 2014 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Stavanger, Norway | 0 | 10,296 | 91,744 | 0 | (27,759) | 7,567 | 66,714 | 74,281 | 10,824 | 1975 | Aug. 2014 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Laboratory facility in Westborough, MA | 0 | 3,409 | 37,914 | 53,065 | 0 | 3,409 | 90,979 | 94,388 | 8,056 | 1992 | Aug. 2014 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Andover, MA | 0 | 3,980 | 45,120 | 323 | 0 | 3,980 | 45,443 | 49,423 | 7,507 | 2013 | Oct. 2014 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Newport, United Kingdom | 0 | 0 | 22,587 | 0 | (3,414) | 0 | 19,173 | 19,173 | 3,020 | 2014 | Oct. 2014 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Lewisburg, OH | 0 | 1,627 | 13,721 | 0 | 0 | 1,627 | 13,721 | 15,348 | 2,372 | 2014 | Nov. 2014 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Opole, Poland | 0 | 2,151 | 21,438 | 0 | (309) | 2,123 | 21,157 | 23,280 | 3,752 | 2014 | Dec. 2014 | 38 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facilities located throughout Spain | 0 | 51,778 | 257,624 | 10 | 1,422 | 55,159 | 255,675 | 310,834 | 40,071 | Various | Dec. 2014 | Various | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities located throughout the United Kingdom | 0 | 66,319 | 230,113 | 277 | (40,605) | 57,084 | 199,020 | 256,104 | 39,229 | Various | Jan. 2015 | 20 - 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Rotterdam, Netherlands | 0 | 0 | 33,935 | 20,448 | 4,789 | 0 | 59,172 | 59,172 | 6,697 | 2014 | Feb. 2015 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Bad Fischau, Austria | 0 | 2,855 | 18,829 | 0 | 3,009 | 3,251 | 21,442 | 24,693 | 3,695 | 1998 | Apr. 2015 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Oskarshamn, Sweden | 0 | 3,090 | 18,262 | 0 | 221 | 3,122 | 18,451 | 21,573 | 2,810 | 2015 | Jun. 2015 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Sunderland, United Kingdom | 0 | 2,912 | 30,140 | 0 | (4,103) | 2,550 | 26,399 | 28,949 | 4,138 | 2007 | Aug. 2015 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Gersthofen and Senden, Germany and Leopoldsdorf, Austria | 0 | 9,449 | 15,838 | 0 | 2,586 | 10,415 | 17,458 | 27,873 | 3,024 | 2008; 2010 | Aug. 2015 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net-lease hotels in Clive, IA; Baton Rouge, LA; St. Louis, MO; Greensboro, NC; Mount Laurel, NJ; and Fort Worth, TX | 0 | 0 | 49,190 | 0 | 0 | 0 | 49,190 | 49,190 | 7,561 | 1988; 1989; 1990 | Oct. 2015 | 38 - 40 yrs. |
W. P. Carey |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Increase (Decrease) in Net Investments (b) | Gross Amount at which Carried at Close of Period (c) (d) | Accumulated Depreciation (d) | Date of Construction | Date Acquired | Life on which Depreciation in Latest Statement of Income is Computed | ||||||||||||||||||||||||||
�� | |||||||||||||||||||||||||||||||||
Description | Encumbrances | Land | Buildings | Land | Buildings | Total | |||||||||||||||||||||||||||
Office facility in Stavanger, Norway | — | 10,296 | 91,744 | — | (29,855 | ) | 7,354 | 64,831 | 72,185 | 8,876 | 1975 | Aug. 2014 | 40 yrs. | ||||||||||||||||||||
Office facility in Westborough, MA | — | 3,409 | 37,914 | — | — | 3,409 | 37,914 | 41,323 | 5,706 | 1992 | Aug. 2014 | 40 yrs. | |||||||||||||||||||||
Office facility in Andover, MA | — | 3,980 | 45,120 | 289 | — | 3,980 | 45,409 | 49,389 | 6,289 | 2013 | Oct. 2014 | 40 yrs. | |||||||||||||||||||||
Office facility in Newport, United Kingdom | — | — | 22,587 | — | (4,040 | ) | — | 18,547 | 18,547 | 2,454 | 2014 | Oct. 2014 | 40 yrs. | ||||||||||||||||||||
Industrial facility in Lewisburg, OH | — | 1,627 | 13,721 | — | — | 1,627 | 13,721 | 15,348 | 1,987 | 2014 | Nov. 2014 | 40 yrs. | |||||||||||||||||||||
Industrial facility in Opole, Poland | — | 2,151 | 21,438 | — | (2,276 | ) | 1,944 | 19,369 | 21,313 | 2,866 | 2014 | Dec. 2014 | 38 yrs. | ||||||||||||||||||||
Office facilities located throughout Spain | — | 51,778 | 257,624 | 10 | (24,847 | ) | 50,497 | 234,068 | 284,565 | 30,609 | Various | Dec. 2014 | Various | ||||||||||||||||||||
Retail facilities located throughout the United Kingdom | — | 66,319 | 230,113 | 277 | (48,957 | ) | 55,222 | 192,530 | 247,752 | 31,546 | Various | Jan. 2015 | 20 - 40 yrs. | ||||||||||||||||||||
Warehouse facility in Rotterdam, Netherlands | — | — | 33,935 | 20,442 | (211 | ) | — | 54,166 | 54,166 | 4,717 | 2014 | Feb. 2015 | 40 yrs. | ||||||||||||||||||||
Retail facility in Bad Fischau, Austria | — | 2,855 | 18,829 | — | 923 | 2,977 | 19,630 | 22,607 | 2,908 | 1998 | Apr. 2015 | 40 yrs. | |||||||||||||||||||||
Industrial facility in Oskarshamn, Sweden | — | 3,090 | 18,262 | — | (2,382 | ) | 2,745 | 16,225 | 18,970 | 2,025 | 2015 | Jun. 2015 | 40 yrs. | ||||||||||||||||||||
Office facility in Sunderland, United Kingdom | — | 2,912 | 30,140 | — | (5,047 | ) | 2,467 | 25,538 | 28,005 | 3,263 | 2007 | Aug. 2015 | 40 yrs. | ||||||||||||||||||||
Industrial facilities in Gersthofen and Senden, Germany and Leopoldsdorf, Austria | — | 9,449 | 15,838 | — | 231 | 9,535 | 15,983 | 25,518 | 2,387 | 2008; 2010 | Aug. 2015 | 40 yrs. | |||||||||||||||||||||
Net-lease hotels in Clive, IA; Baton Rouge, LA; St. Louis, MO; Greensboro, NC; Mount Laurel, NJ; and Fort Worth, TX | — | — | 49,190 | — | — | — | 49,190 | 49,190 | 6,111 | 1988; 1989; 1990 | Oct. 2015 | 38 - 40 yrs. | |||||||||||||||||||||
Retail facilities in Almere, Amsterdam, Eindhoven, Houten, Nieuwegein, Utrecht, Veghel, and Zwaag, Netherlands | — | 5,698 | 38,130 | 79 | 2,015 | 5,959 | 39,963 | 45,922 | 5,128 | Various | Nov. 2015 | 30 - 40 yrs. | |||||||||||||||||||||
Office facility in Irvine, CA | — | 7,626 | 16,137 | — | — | 7,626 | 16,137 | 23,763 | 1,705 | 1977 | Dec. 2015 | 40 yrs. | |||||||||||||||||||||
Education facility in Windermere, FL | — | 5,090 | 34,721 | 15,333 | — | 5,090 | 50,054 | 55,144 | 6,695 | 1998 | Apr. 2016 | 38 yrs. | |||||||||||||||||||||
Industrial facilities located throughout the United States | — | 66,845 | 87,575 | 65,400 | (56,517 | ) | 49,680 | 113,623 | 163,303 | 16,284 | Various | Apr. 2016 | Various | ||||||||||||||||||||
Industrial facilities in North Dumfries and Ottawa, Canada | — | 17,155 | 10,665 | — | (18,207 | ) | 5,963 | 3,650 | 9,613 | 1,240 | 1967; 1974 | Apr. 2016 | 28 yrs. | ||||||||||||||||||||
Education facilities in Coconut Creek, FL and Houston, TX | — | 15,550 | 83,862 | 63,830 | — | 15,550 | 147,692 | 163,242 | 13,234 | 1979; 1984 | May 2016 | 37 - 40 yrs. | |||||||||||||||||||||
Office facility in Southfield, MI and warehouse facilities in London, KY and Gallatin, TN | — | 3,585 | 17,254 | — | — | 3,585 | 17,254 | 20,839 | 1,539 | 1969; 1987; 2000 | Nov. 2016 | 35 - 36 yrs. | |||||||||||||||||||||
Industrial facilities in Brampton, Toronto, and Vaughan, Canada | — | 28,759 | 13,998 | — | — | 28,759 | 13,998 | 42,757 | 1,488 | Various | Nov. 2016 | 28 - 35 yrs. | |||||||||||||||||||||
Industrial facilities in Queretaro and San Juan del Rio, Mexico | — | 5,152 | 12,614 | — | — | 5,152 | 12,614 | 17,766 | 1,083 | Various | Dec. 2016 | 28 - 40 yrs. |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Increase (Decrease) in Net Investments (b) | Gross Amount at which Carried at Close of Period (c) (d) | Accumulated Depreciation (d) | Date of Construction | Date Acquired | Life on which Depreciation in Latest Statement of Income is Computed | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Description | Encumbrances | Land | Buildings | Land | Buildings | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities in Almere, Amsterdam, Eindhoven, Houten, Nieuwegein, Utrecht, Veghel, and Zwaag, Netherlands | 0 | 5,698 | 38,130 | 79 | 6,255 | 6,510 | 43,652 | 50,162 | 6,954 | Various | Nov. 2015 | 30 - 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Irvine, CA | 0 | 7,626 | 16,137 | 0 | 0 | 7,626 | 16,137 | 23,763 | 2,128 | 1977 | Dec. 2015 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Education facility in Windermere, FL | 0 | 5,090 | 34,721 | 15,333 | 0 | 5,090 | 50,054 | 55,144 | 8,721 | 1998 | Apr. 2016 | 38 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities located throughout the United States | 0 | 66,845 | 87,575 | 65,400 | (56,517) | 49,680 | 113,623 | 163,303 | 20,553 | Various | Apr. 2016 | Various | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in North Dumfries and Ottawa, Canada | 0 | 17,155 | 10,665 | 0 | (18,015) | 6,082 | 3,723 | 9,805 | 1,519 | 1967; 1974 | Apr. 2016 | 28 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Education facilities in Coconut Creek, FL and Houston, TX | 0 | 15,550 | 83,862 | 63,830 | 0 | 15,550 | 147,692 | 163,242 | 17,704 | 1979; 1984 | May 2016 | 37 - 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Southfield, MI and warehouse facilities in London, KY and Gallatin, TN | 0 | 3,585 | 17,254 | 0 | 0 | 3,585 | 17,254 | 20,839 | 2,028 | 1969; 1987; 2000 | Nov. 2016 | 35 - 36 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Brampton, Toronto, and Vaughan, Canada | 0 | 28,759 | 13,998 | 0 | 0 | 28,759 | 13,998 | 42,757 | 1,961 | Various | Nov. 2016 | 28 - 35 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Queretaro and San Juan del Rio, Mexico | 0 | 5,152 | 12,614 | 0 | 0 | 5,152 | 12,614 | 17,766 | 1,434 | Various | Dec. 2016 | 28 - 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Chicago, IL | 0 | 2,222 | 2,655 | 3,511 | 0 | 2,222 | 6,166 | 8,388 | 1,046 | 1985 | Jun. 2017 | 30 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Zawiercie, Poland | 0 | 395 | 102 | 10,378 | 565 | 415 | 11,025 | 11,440 | 742 | 2018 | Aug. 2017 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Roseville, MN | 0 | 2,560 | 16,025 | 0 | 0 | 2,560 | 16,025 | 18,585 | 1,413 | 2001 | Nov. 2017 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Radomsko, Poland | 0 | 1,718 | 59 | 14,454 | 812 | 1,810 | 15,233 | 17,043 | 889 | 2018 | Nov. 2017 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Sellersburg, IN | 0 | 1,016 | 3,838 | 0 | 0 | 1,016 | 3,838 | 4,854 | 380 | 2000 | Feb. 2018 | 36 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail and warehouse facilities in Appleton, Madison, and Waukesha, WI | 0 | 5,512 | 61,230 | 0 | 0 | 5,465 | 61,277 | 66,742 | 5,277 | 1995; 2004 | Mar. 2018 | 36 - 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office and warehouse facilities located throughout Denmark | 0 | 20,304 | 185,481 | 0 | 12,512 | 21,539 | 196,758 | 218,297 | 15,549 | Various | Jun. 2018 | 25 - 41 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities located throughout the Netherlands | 0 | 38,475 | 117,127 | 0 | 8,394 | 40,551 | 123,445 | 163,996 | 10,807 | Various | Jul. 2018 | 26 - 30 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Oostburg, WI | 0 | 786 | 6,589 | 0 | 0 | 786 | 6,589 | 7,375 | 727 | 2002 | Jul. 2018 | 35 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Kampen, Netherlands | 0 | 3,251 | 12,858 | 126 | 962 | 3,443 | 13,754 | 17,197 | 1,357 | 1976 | Jul. 2018 | 26 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Azambuja, Portugal | 0 | 13,527 | 35,631 | 28,067 | 4,104 | 14,339 | 66,990 | 81,329 | 3,521 | 1994 | Sep. 2018 | 28 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities in Amsterdam, Moordrecht, and Rotterdam, Netherlands | 0 | 2,582 | 18,731 | 6,455 | 2,153 | 2,784 | 27,137 | 29,921 | 1,943 | Various | Oct. 2018 | 27 - 37 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office and warehouse facilities in Bad Wünnenberg and Soest, Germany | 0 | 2,916 | 39,687 | 0 | 3,283 | 3,140 | 42,746 | 45,886 | 2,484 | 1982; 1986 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Norfolk, NE | 1,064 | 802 | 3,686 | 0 | 0 | 802 | 3,686 | 4,488 | 271 | 1975 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Education facility in Chicago, IL | 10,178 | 7,720 | 17,266 | 0 | 0 | 7,720 | 17,266 | 24,986 | 998 | 1912 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fitness facilities in Phoenix, AZ and Columbia, MD | 0 | 18,286 | 33,030 | 0 | 0 | 18,286 | 33,030 | 51,316 | 1,901 | 2006 | Oct. 2018 | 40 yrs. |
W. P. Carey |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Increase (Decrease) in Net Investments (b) | Gross Amount at which Carried at Close of Period (c) (d) | Accumulated Depreciation (d) | Date of Construction | Date Acquired | Life on which Depreciation in Latest Statement of Income is Computed | ||||||||||||||||||||||||||
Description | Encumbrances | Land | Buildings | Land | Buildings | Total | |||||||||||||||||||||||||||
Industrial facility in Chicago, IL | — | 2,222 | 2,655 | 3,511 | — | 2,222 | 6,166 | 8,388 | 680 | 1985 | Jun. 2017 | 30 yrs. | |||||||||||||||||||||
Industrial facility in Zawiercie, Poland | — | 395 | 102 | 10,378 | (401 | ) | 380 | 10,094 | 10,474 | 427 | 2018 | Aug. 2017 | 40 yrs. | ||||||||||||||||||||
Office facility in Roseville, MN | — | 2,560 | 16,025 | — | — | 2,560 | 16,025 | 18,585 | 955 | 2001 | Nov. 2017 | 40 yrs. | |||||||||||||||||||||
Industrial facility in Radomsko, Poland | — | 1,718 | 59 | 14,453 | (629 | ) | 1,657 | 13,944 | 15,601 | 465 | 2018 | Nov. 2017 | 40 yrs. | ||||||||||||||||||||
Warehouse facility in Sellersburg, IN | — | 1,016 | 3,838 | — | — | 1,016 | 3,838 | 4,854 | 246 | 2000 | Feb. 2018 | 36 yrs. | |||||||||||||||||||||
Retail and warehouse facilities in Appleton, Madison, and Waukesha, WI | — | 5,512 | 61,230 | — | — | 5,465 | 61,277 | 66,742 | 3,392 | 1995; 2004 | Mar. 2018 | 36 - 40 yrs. | |||||||||||||||||||||
Office and warehouse facilities located throughout Denmark | — | 20,304 | 185,481 | — | (6,754 | ) | 19,638 | 179,393 | 199,031 | 8,534 | Various | Jun. 2018 | 25 - 41 yrs. | ||||||||||||||||||||
Retail facilities located throughout the Netherlands | — | 38,475 | 117,127 | — | (5,465 | ) | 37,124 | 113,013 | 150,137 | 5,890 | Various | Jul. 2018 | 26 - 30 yrs. | ||||||||||||||||||||
Industrial facility in Oostburg, WI | — | 786 | 6,589 | — | — | 786 | 6,589 | 7,375 | 432 | 2002 | Jul. 2018 | 35 yrs. | |||||||||||||||||||||
Warehouse facility in Kampen, Netherlands | — | 3,251 | 12,858 | 126 | (492 | ) | 3,152 | 12,591 | 15,743 | 734 | 1976 | Jul. 2018 | 26 yrs. | ||||||||||||||||||||
Warehouse facility in Azambuja, Portugal | — | 13,527 | 35,631 | — | (1,452 | ) | 13,127 | 34,579 | 47,706 | 1,688 | 1994 | Sep. 2018 | 28 yrs. | ||||||||||||||||||||
Retail facilities in Amsterdam, Moordrecht, and Rotterdam, Netherlands | — | 2,582 | 18,731 | 3,219 | (317 | ) | 2,549 | 21,666 | 24,215 | 912 | Various | Oct. 2018 | 27 - 37 yrs. | ||||||||||||||||||||
Office and warehouse facilities in Bad Wünnenberg and Soest, Germany | — | 2,916 | 39,687 | — | (595 | ) | 2,875 | 39,133 | 42,008 | 1,225 | 1982; 1986 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||
Industrial facility in Norfolk, NE | 1,172 | 802 | 3,686 | — | — | 802 | 3,686 | 4,488 | 146 | 1975 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Education facility in Chicago, IL | 11,180 | 7,720 | 17,266 | — | — | 7,720 | 17,266 | 24,986 | 538 | 1912 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Fitness facilities in Phoenix, AZ and Columbia, MD | — | 18,286 | 33,030 | — | — | 18,286 | 33,030 | 51,316 | 1,024 | 2006 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Retail facility in Gorzow, Poland | — | 1,736 | 8,298 | — | (140 | ) | 1,712 | 8,182 | 9,894 | 275 | 2008 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||
Industrial facilities in Sergeant Bluff, IA; Bossier City, LA; and Alvarado, TX | 9,996 | 6,460 | 49,462 | — | — | 6,460 | 49,462 | 55,922 | 1,660 | Various | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Industrial facilities in Mayodan, Sanford, and Stoneville, NC | — | 3,505 | 20,913 | — | — | 3,505 | 20,913 | 24,418 | — | 1992; 1997; 1998 | Oct. 2018 | 29 yrs. | |||||||||||||||||||||
Warehouse facility in Dillon, SC | 15,522 | 3,424 | 43,114 | — | — | 3,424 | 43,114 | 46,538 | 1,447 | 2001 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Office facility in Birmingham, United Kingdom | 16,915 | 7,383 | 7,687 | — | 330 | 7,545 | 7,855 | 15,400 | 241 | 2009 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Retail facilities located throughout Spain | — | 17,626 | 44,501 | — | (867 | ) | 17,380 | 43,880 | 61,260 | 1,387 | Various | Oct. 2018 | 40 yrs. | ||||||||||||||||||||
Warehouse facility in Gadki, Poland | — | 1,376 | 6,137 | — | (105 | ) | 1,357 | 6,051 | 7,408 | 193 | 2011 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||
Office facility in The Woodlands, TX | 22,895 | 1,697 | 52,289 | — | — | 1,697 | 52,289 | 53,986 | 1,564 | 2009 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Office facility in Hoffman Estates, IL | — | 5,550 | 14,214 | — | — | 5,550 | 14,214 | 19,764 | 441 | 2009 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Warehouse facility in Zagreb, Croatia | — | 15,789 | 33,287 | — | (685 | ) | 15,568 | 32,823 | 48,391 | 1,523 | 2001 | Oct. 2018 | 26 yrs. |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Increase (Decrease) in Net Investments (b) | Gross Amount at which Carried at Close of Period (c) (d) | Accumulated Depreciation (d) | Date of Construction | Date Acquired | Life on which Depreciation in Latest Statement of Income is Computed | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Description | Encumbrances | Land | Buildings | Land | Buildings | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Gorzow, Poland | 0 | 1,736 | 8,298 | 0 | 774 | 1,870 | 8,938 | 10,808 | 557 | 2008 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Sergeant Bluff, IA; Bossier City, LA; and Alvarado, TX | 9,693 | 6,460 | 49,462 | 0 | 0 | 6,460 | 49,462 | 55,922 | 3,082 | Various | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Glendale Heights, IL | 0 | 4,237 | 45,484 | 0 | 0 | 4,237 | 45,484 | 49,721 | 635 | 1991 | Oct. 2018 | 38 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Mayodan, Sanford, and Stoneville, NC | 0 | 3,505 | 20,913 | 0 | 0 | 3,505 | 20,913 | 24,418 | 719 | 1992; 1997; 1998 | Oct. 2018 | 29 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Dillon, SC | 14,468 | 3,424 | 43,114 | 0 | 0 | 3,424 | 43,114 | 46,538 | 2,686 | 2001 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Birmingham, United Kingdom | 17,465 | 7,383 | 7,687 | 0 | 849 | 7,799 | 8,120 | 15,919 | 462 | 2009 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities located throughout Spain | 0 | 17,626 | 44,501 | 0 | 4,788 | 18,985 | 47,930 | 66,915 | 2,813 | Various | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Gadki, Poland | 0 | 1,376 | 6,137 | 0 | 579 | 1,482 | 6,610 | 8,092 | 392 | 2011 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in The Woodlands, TX | 22,249 | 1,697 | 52,289 | 0 | 0 | 1,697 | 52,289 | 53,986 | 2,903 | 2009 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Hoffman Estates, IL | 0 | 5,550 | 14,214 | 0 | 0 | 5,550 | 14,214 | 19,764 | 818 | 2009 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Zagreb, Croatia | 0 | 15,789 | 33,287 | 0 | 3,782 | 17,005 | 35,853 | 52,858 | 3,089 | 2001 | Oct. 2018 | 26 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Middleburg Heights and Union Township, OH | 4,741 | 1,295 | 13,384 | 0 | 0 | 1,295 | 13,384 | 14,679 | 763 | 1990; 1997 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Las Vegas, NV | 39,665 | 0 | 79,720 | 0 | 0 | 0 | 79,720 | 79,720 | 4,328 | 2012 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities located in Phoenix, AZ; Colton, Fresno, Los Angeles, Orange, Pomona, and San Diego, CA; Holly Hill and Safety Harbor, FL; Rockmart, GA; Durham, NC; Columbia, SC; Ooltewah, TN; and Dallas, TX | 19,535 | 20,517 | 14,135 | 0 | 30,060 | 22,585 | 42,127 | 64,712 | 1,231 | Various | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Bowling Green, KY | 0 | 2,652 | 51,915 | 0 | 0 | 2,652 | 51,915 | 54,567 | 3,318 | 2011 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in Cannock, Liverpool, Luton, Plymouth, Southampton, and Taunton United Kingdom | 0 | 6,791 | 2,315 | 0 | 513 | 7,174 | 2,445 | 9,619 | 156 | Various | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Evansville, IN | 0 | 180 | 22,095 | 0 | 0 | 180 | 22,095 | 22,275 | 1,228 | 2009 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facilities in Tampa, FL | 31,644 | 3,889 | 49,843 | 754 | 0 | 3,889 | 50,597 | 54,486 | 2,841 | 1985; 2000 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Elorrio, Spain | 0 | 7,858 | 12,728 | 0 | 1,587 | 8,464 | 13,709 | 22,173 | 899 | 1996 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial and office facilities in Elberton, GA | 0 | 879 | 2,014 | 0 | 0 | 879 | 2,014 | 2,893 | 157 | 1997; 2002 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Tres Cantos, Spain | 60,617 | 24,344 | 39,646 | 0 | 4,931 | 26,220 | 42,701 | 68,921 | 2,518 | 2002 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Hartland, WI | 2,653 | 1,454 | 6,406 | 0 | 0 | 1,454 | 6,406 | 7,860 | 391 | 2001 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities in Dugo Selo, Kutina, Samobor, Spansko, and Zagreb, Croatia | 0 | 5,549 | 12,408 | 1,625 | 8,755 | 7,332 | 21,005 | 28,337 | 1,563 | 2000; 2002; 2003 | Oct. 2018 | 26 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office and warehouse facilities located throughout the United States | 0 | 42,793 | 193,666 | 0 | 0 | 42,793 | 193,666 | 236,459 | 11,657 | Various | Oct. 2018 | 40 yrs. |
W. P. Carey |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Increase (Decrease) in Net Investments (b) | Gross Amount at which Carried at Close of Period (c) (d) | Accumulated Depreciation (d) | Date of Construction | Date Acquired | Life on which Depreciation in Latest Statement of Income is Computed | ||||||||||||||||||||||||||
Description | Encumbrances | Land | Buildings | Land | Buildings | Total | |||||||||||||||||||||||||||
Industrial facilities in Middleburg Heights and Union Township, OH | 5,126 | 1,295 | 13,384 | — | — | 1,295 | 13,384 | 14,679 | 411 | 1990; 1997 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Retail facility in Las Vegas, NV | 39,504 | — | 79,720 | — | — | — | 79,720 | 79,720 | 2,331 | 2012 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Industrial facilities located in Phoenix, AZ; Colton, Fresno, Los Angeles, Orange, Pomona, and San Diego, CA; Safety Harbor, FL; Durham, NC; and Columbia, SC | 10,306 | 20,517 | 14,135 | — | — | 20,517 | 14,135 | 34,652 | 458 | Various | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Warehouse facility in Bowling Green, KY | — | 2,652 | 51,915 | — | — | 2,652 | 51,915 | 54,567 | 1,787 | 2011 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Warehouse facilities in Cannock, Liverpool, Luton, Plymouth, Southampton, and Taunton United Kingdom | — | 6,791 | 2,315 | — | 199 | 6,940 | 2,365 | 9,305 | 81 | Various | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Industrial facility in Evansville, IN | 14,085 | 180 | 22,095 | — | — | 180 | 22,095 | 22,275 | 662 | 2009 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Office facilities in Tampa, FL | 31,792 | 3,889 | 49,843 | 257 | — | 3,889 | 50,100 | 53,989 | 1,525 | 1985; 2000 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Warehouse facility in Elorrio, Spain | — | 7,858 | 12,728 | — | (286 | ) | 7,749 | 12,551 | 20,300 | 443 | 1996 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||
Industrial and office facilities in Elberton, GA | — | 879 | 2,014 | — | — | 879 | 2,014 | 2,893 | 85 | 1997; 2002 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Office facility in Tres Cantos, Spain | 55,156 | 24,344 | 39,646 | — | (893 | ) | 24,004 | 39,093 | 63,097 | 1,242 | 2002 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||
Office facility in Hartland, WI | 2,850 | 1,454 | 6,406 | — | — | 1,454 | 6,406 | 7,860 | 211 | 2001 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Retail facilities in Dugo Selo, Kutina, Samobor, Spansko, and Zagreb, Croatia | �� | — | 5,549 | 12,408 | 1,308 | 6,367 | 6,712 | 18,920 | 25,632 | 683 | 2000; 2002; 2003 | Oct. 2018 | 26 yrs. | ||||||||||||||||||||
Office and warehouse facilities located throughout the United States | 99,793 | 42,793 | 193,666 | — | — | 42,793 | 193,666 | 236,459 | 6,278 | Various | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Warehouse facilities in Rincon and Unadilla, GA | — | 1,954 | 48,421 | — | — | 1,954 | 48,421 | 50,375 | 1,536 | 2000; 2006 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Warehouse facilities in Breda, Elst, Gieten, Raalte, and Woerden, Netherlands | — | 37,755 | 91,666 | — | (1,807 | ) | 37,228 | 90,386 | 127,614 | 2,780 | Various | Oct. 2018 | 40 yrs. | ||||||||||||||||||||
Warehouse facilities in Oxnard and Watsonville, CA | — | 22,453 | 78,814 | — | — | 22,453 | 78,814 | 101,267 | 2,435 | 1975; 1994; 2002 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Retail facilities located throughout Italy | — | 75,492 | 138,280 | — | (2,984 | ) | 74,438 | 136,350 | 210,788 | 4,536 | Various | Oct. 2018 | 40 yrs. | ||||||||||||||||||||
Land in Hudson, NY | — | 2,405 | — | — | — | 2,405 | — | 2,405 | — | N/A | Oct. 2018 | N/A | |||||||||||||||||||||
Office facility in Houston, TX | — | 2,136 | 2,344 | — | — | 2,136 | 2,344 | 4,480 | 84 | 1982 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Office facility in Martinsville, VA | — | 1,082 | 8,108 | — | — | 1,082 | 8,108 | 9,190 | 266 | 2011 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Land in Chicago, IL | — | 9,887 | — | — | — | 9,887 | — | 9,887 | — | N/A | Oct. 2018 | N/A | |||||||||||||||||||||
Industrial facility in Fraser, MI | — | 1,346 | 9,551 | — | — | 1,346 | 9,551 | 10,897 | 304 | 2012 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Net-lease self-storage facilities located throughout the United States | — | 19,583 | 108,971 | — | — | 19,583 | 108,971 | 128,554 | 3,597 | Various | Oct. 2018 | 40 yrs. |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Increase (Decrease) in Net Investments (b) | Gross Amount at which Carried at Close of Period (c) (d) | Accumulated Depreciation (d) | Date of Construction | Date Acquired | Life on which Depreciation in Latest Statement of Income is Computed | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Description | Encumbrances | Land | Buildings | Land | Buildings | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in Breda, Elst, Gieten, Raalte, and Woerden, Netherlands | 0 | 37,755 | 91,666 | 0 | 9,974 | 40,665 | 98,730 | 139,395 | 5,638 | Various | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in Oxnard and Watsonville, CA | 0 | 22,453 | 78,814 | 0 | 0 | 22,453 | 78,814 | 101,267 | 4,522 | 1975; 1994; 2002 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities located throughout Italy | 0 | 75,492 | 138,280 | 0 | 16,474 | 81,310 | 148,936 | 230,246 | 9,199 | Various | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Land in Hudson, NY | 0 | 2,405 | 0 | 0 | 0 | 2,405 | 0 | 2,405 | 0 | N/A | Oct. 2018 | N/A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Houston, TX | 0 | 2,136 | 2,344 | 0 | 0 | 2,136 | 2,344 | 4,480 | 156 | 1982 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Martinsville, VA | 0 | 1,082 | 8,108 | 0 | 0 | 1,082 | 8,108 | 9,190 | 494 | 2011 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Land in Chicago, IL | 0 | 9,887 | 0 | 0 | 0 | 9,887 | 0 | 9,887 | 0 | N/A | Oct. 2018 | N/A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Fraser, MI | 0 | 1,346 | 9,551 | 0 | 0 | 1,346 | 9,551 | 10,897 | 564 | 2012 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net-lease self-storage facilities located throughout the United States | 0 | 19,583 | 108,971 | 0 | 0 | 19,583 | 108,971 | 128,554 | 6,691 | Various | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Middleburg Heights, OH | 0 | 542 | 2,507 | 0 | 0 | 542 | 2,507 | 3,049 | 143 | 2002 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net-lease self-storage facility in Fort Worth, TX | 0 | 691 | 6,295 | 0 | 0 | 691 | 6,295 | 6,986 | 396 | 2004 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities in Delnice, Pozega, and Sesvete, Croatia | 0 | 5,519 | 9,930 | 1,291 | 1,125 | 5,944 | 11,921 | 17,865 | 982 | 2011 | Oct. 2018 | 27 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facilities in Eagan and Virginia, MN | 0 | 16,302 | 91,239 | 0 | (722) | 15,954 | 90,865 | 106,819 | 5,466 | Various | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Orlando, FL | 0 | 6,262 | 25,134 | 430 | 0 | 6,371 | 25,455 | 31,826 | 1,400 | 2011 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Avon, OH | 2,978 | 1,447 | 5,564 | 0 | 0 | 1,447 | 5,564 | 7,011 | 344 | 2001 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Chimelow, Poland | 0 | 6,158 | 28,032 | 0 | 2,635 | 6,633 | 30,192 | 36,825 | 1,794 | 2012 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net-lease self-storage facility in Fayetteville, NC | 0 | 1,839 | 4,654 | 0 | 0 | 1,839 | 4,654 | 6,493 | 373 | 2001 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities in Huntsville, AL; Bentonville, AR; Bossier City, LA; Lee's Summit, MO; Fayetteville, TN, and Fort Worth, TX | 0 | 19,529 | 42,318 | 0 | 0 | 19,529 | 42,318 | 61,847 | 2,544 | Various | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Education facilities in Montgomery, AL and Savannah, GA | 13,304 | 5,508 | 12,032 | 0 | 0 | 5,508 | 12,032 | 17,540 | 715 | 1969; 2002 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facilities in St. Louis, MO | 0 | 1,297 | 5,362 | 4,000 | 0 | 1,297 | 9,362 | 10,659 | 586 | 1995 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office and warehouse facility in Zary, PL | 0 | 2,062 | 10,034 | 0 | 932 | 2,221 | 10,807 | 13,028 | 659 | 2013 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in San Antonio, TX and Sterling, VA | 0 | 3,198 | 23,981 | 78,727 | 0 | 7,228 | 98,678 | 105,906 | 2,307 | 1980; 2020 | Oct. 2018; Dec. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Elk Grove Village, IL | 8,067 | 5,511 | 10,766 | 2 | 0 | 5,511 | 10,768 | 16,279 | 626 | 1961 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Portage, WI | 4,234 | 3,450 | 7,797 | 0 | 0 | 3,450 | 7,797 | 11,247 | 511 | 1970 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Warrenville, IL | 16,777 | 3,662 | 23,711 | 0 | 0 | 3,662 | 23,711 | 27,373 | 1,360 | 2002 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Saitama Prefecture, Japan | 0 | 13,507 | 25,301 | 1,381 | (2,281) | 12,642 | 25,266 | 37,908 | 1,503 | 2007 | Oct. 2018 | 40 yrs. |
W. P. Carey |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Increase (Decrease) in Net Investments (b) | Gross Amount at which Carried at Close of Period (c) (d) | Accumulated Depreciation (d) | Date of Construction | Date Acquired | Life on which Depreciation in Latest Statement of Income is Computed | ||||||||||||||||||||||||||
Description | Encumbrances | Land | Buildings | Land | Buildings | Total | |||||||||||||||||||||||||||
Warehouse facility in Middleburg Heights, OH | — | 542 | 2,507 | — | — | 542 | 2,507 | 3,049 | 77 | 2002 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Net-lease self-storage facility in Fort Worth, TX | — | 691 | 6,295 | — | — | 691 | 6,295 | 6,986 | 213 | 2004 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Retail facilities in Delnice, Pozega, and Sesvete, Croatia | — | 5,519 | 9,930 | 1,068 | (200 | ) | 5,442 | 10,875 | 16,317 | 472 | 2011 | Oct. 2018 | 27 yrs. | ||||||||||||||||||||
Office facilities in Aurora, Eagan, and Virginia, MN | — | 16,302 | 91,239 | — | — | 16,302 | 91,239 | 107,541 | 2,964 | Various | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Retail facility in Orlando, FL | — | 6,262 | 25,134 | 430 | — | 6,371 | 25,455 | 31,826 | 754 | 2011 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Industrial facility in Avon, OH | 3,057 | 1,447 | 5,564 | — | — | 1,447 | 5,564 | 7,011 | 185 | 2001 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Industrial facility in Chimelow, Poland | — | 6,158 | 28,032 | — | (477 | ) | 6,072 | 27,641 | 33,713 | 885 | 2012 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||
Net-lease self-storage facility in Fayetteville, NC | — | 1,839 | 4,654 | — | — | 1,839 | 4,654 | 6,493 | 201 | 2001 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Retail facilities in Huntsville, AL; Bentonville, AR; Bossier City, LA; Lee's Summit, MO; Fayetteville, TN, and Fort Worth, TX | — | 19,529 | 42,318 | — | — | 19,529 | 42,318 | 61,847 | 1,370 | Various | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Education facilities in Montgomery, AL and Savannah, GA | 13,520 | 5,508 | 12,032 | — | — | 5,508 | 12,032 | 17,540 | 385 | 1969; 2002 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Office facilities in St. Louis, MO | — | 1,297 | 5,362 | 3,316 | — | 1,297 | 8,678 | 9,975 | 178 | 1995 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Office and warehouse facility in Zary, PL | — | 2,062 | 10,034 | — | (169 | ) | 2,034 | 9,893 | 11,927 | 325 | 2013 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||
Industrial facility in Sterling, VA | — | 3,198 | 23,981 | — | — | 3,198 | 23,981 | 27,179 | 720 | 1980 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Industrial facility in Elk Grove Village, IL | 8,230 | 5,511 | 10,766 | 2 | — | 5,511 | 10,768 | 16,279 | 337 | 1961 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Industrial facility in Portage, WI | 4,408 | 3,450 | 7,797 | — | — | 3,450 | 7,797 | 11,247 | 275 | 1970 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Office facility in Warrenville, IL | 17,155 | 3,662 | 23,711 | — | — | 3,662 | 23,711 | 27,373 | 732 | 2002 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Warehouse facility in Saitama Prefecture, Japan | — | 13,507 | 25,301 | 15 | (4,141 | ) | 12,005 | 22,677 | 34,682 | 767 | 2007 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||
Retail facility in Dallas, TX | — | 2,977 | 16,168 | — | — | 2,977 | 16,168 | 19,145 | 485 | 1913 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Office facility in Houston, TX | 124,592 | 23,161 | 104,266 | 256 | — | 23,161 | 104,522 | 127,683 | 3,091 | 1973 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Retail facilities located throughout Croatia | — | 9,000 | 13,002 | 1,202 | (286 | ) | 8,874 | 14,044 | 22,918 | 515 | Various | Oct. 2018 | 29 - 38 yrs. | ||||||||||||||||||||
Office facility in Northbrook, IL | 5,226 | — | 493 | — | — | — | 493 | 493 | 58 | 2007 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Education facilities in Chicago, IL | — | 18,510 | 163 | — | — | 18,510 | 163 | 18,673 | 19 | 2014; 2015 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Warehouse facility in Dillon, SC | 25,745 | 3,516 | 44,933 | — | — | 3,516 | 44,933 | 48,449 | 1,496 | 2013 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Net-lease self-storage facilities in New York City, NY | — | 29,223 | 77,202 | 114 | — | 29,223 | 77,316 | 106,539 | 2,274 | Various | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Net-lease self-storage facility in Hilo, HI | — | 769 | 12,869 | — | — | 769 | 12,869 | 13,638 | 381 | 2007 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Net-lease self-storage facility in Clearwater, FL | — | 1,247 | 5,733 | — | — | 1,247 | 5,733 | 6,980 | 193 | 2001 | Oct. 2018 | 40 yrs. |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Increase (Decrease) in Net Investments (b) | Gross Amount at which Carried at Close of Period (c) (d) | Accumulated Depreciation (d) | Date of Construction | Date Acquired | Life on which Depreciation in Latest Statement of Income is Computed | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Description | Encumbrances | Land | Buildings | Land | Buildings | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Dallas, TX | 0 | 2,977 | 16,168 | 0 | 0 | 2,977 | 16,168 | 19,145 | 901 | 1913 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Houston, TX | 125,829 | 23,161 | 104,266 | 760 | 0 | 23,161 | 105,026 | 128,187 | 5,760 | 1973 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities located throughout Croatia | 0 | 9,000 | 13,002 | 1,415 | 1,657 | 9,693 | 15,381 | 25,074 | 1,064 | Various | Oct. 2018 | 29 - 38 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Northbrook, IL | 5,099 | 0 | 493 | 0 | 0 | 0 | 493 | 493 | 107 | 2007 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Education facilities in Chicago, IL | 0 | 18,510 | 163 | 0 | (11,855) | 6,744 | 74 | 6,818 | 28 | 2014; 2015 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Dillon, SC | 25,838 | 3,516 | 44,933 | 0 | 0 | 3,516 | 44,933 | 48,449 | 2,779 | 2013 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net-lease self-storage facilities in New York City, NY | 0 | 29,223 | 77,202 | 114 | 0 | 29,223 | 77,316 | 106,539 | 4,238 | Various | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net-lease self-storage facility in Hilo, HI | 0 | 769 | 12,869 | 0 | 0 | 769 | 12,869 | 13,638 | 708 | 2007 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net-lease self-storage facility in Clearwater, FL | 0 | 1,247 | 5,733 | 0 | 0 | 1,247 | 5,733 | 6,980 | 359 | 2001 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in Gadki, Poland | 0 | 10,422 | 47,727 | 57 | 4,487 | 11,225 | 51,468 | 62,693 | 3,099 | 2007; 2010 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net-lease self-storage facility in Orlando, FL | 0 | 1,070 | 8,686 | 0 | 0 | 1,070 | 8,686 | 9,756 | 513 | 2000 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Lewisville, TX | 8,480 | 3,485 | 11,263 | 0 | 0 | 3,485 | 11,263 | 14,748 | 653 | 2004 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Wageningen, Netherlands | 0 | 5,227 | 18,793 | 0 | 2,157 | 5,630 | 20,547 | 26,177 | 1,218 | 2013 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Haibach, Germany | 9,036 | 1,767 | 12,229 | 0 | (6,292) | 921 | 6,783 | 7,704 | 791 | 1993 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net-lease self-storage facility in Palm Coast, FL | 0 | 1,994 | 4,982 | 0 | 0 | 1,994 | 4,982 | 6,976 | 366 | 2001 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Auburn Hills, MI | 5,391 | 1,910 | 6,773 | 0 | 0 | 1,910 | 6,773 | 8,683 | 401 | 2012 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net-lease self-storage facility in Holiday, FL | 0 | 1,730 | 4,213 | 0 | 0 | 1,730 | 4,213 | 5,943 | 302 | 1975 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Tempe, AZ | 13,892 | 0 | 19,533 | 0 | 0 | 0 | 19,533 | 19,533 | 1,119 | 2000 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Tucson, AZ | 0 | 2,448 | 17,353 | 0 | 0 | 2,448 | 17,353 | 19,801 | 1,008 | 2002 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Drunen, Netherlands | 0 | 2,316 | 9,370 | 0 | 901 | 2,495 | 10,092 | 12,587 | 584 | 2014 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility New Concord, OH | 1,362 | 958 | 2,309 | 0 | 0 | 958 | 2,309 | 3,267 | 163 | 1999 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Krakow, Poland | 0 | 2,381 | 6,212 | 0 | 662 | 2,564 | 6,691 | 9,255 | 390 | 2003 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Gelsenkirchen, Germany | 13,634 | 2,178 | 17,097 | 0 | 1,485 | 2,345 | 18,415 | 20,760 | 1,062 | 2000 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in Mszczonow and Tomaszow Mazowiecki, Poland | 0 | 8,782 | 53,575 | 0 | 4,806 | 9,459 | 57,704 | 67,163 | 3,605 | 1995; 2000 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Plymouth, MN | 21,289 | 2,871 | 26,353 | 184 | 0 | 2,871 | 26,537 | 29,408 | 1,516 | 1999 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in San Antonio, TX | 12,316 | 3,094 | 16,624 | 0 | 0 | 3,094 | 16,624 | 19,718 | 971 | 2002 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Sered, Slovakia | 0 | 3,428 | 28,005 | 0 | 2,422 | 3,692 | 30,163 | 33,855 | 1,756 | 2004 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Tuchomerice, Czech Republic | 0 | 7,864 | 27,006 | 0 | 2,687 | 8,470 | 29,087 | 37,557 | 1,671 | 1998 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Warsaw, Poland | 39,493 | 0 | 44,990 | 0 | 3,467 | 0 | 48,457 | 48,457 | 2,716 | 2015 | Oct. 2018 | 40 yrs. |
W. P. Carey |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Increase (Decrease) in Net Investments (b) | Gross Amount at which Carried at Close of Period (c) (d) | Accumulated Depreciation (d) | Date of Construction | Date Acquired | Life on which Depreciation in Latest Statement of Income is Computed | ||||||||||||||||||||||||||
Description | Encumbrances | Land | Buildings | Land | Buildings | Total | |||||||||||||||||||||||||||
Warehouse facilities in Gadki, Poland | — | 10,422 | 47,727 | 57 | (812 | ) | 10,276 | 47,118 | 57,394 | 1,527 | 2007; 2010 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||
Net-lease self-storage facility in Orlando, FL | — | 1,070 | 8,686 | — | — | 1,070 | 8,686 | 9,756 | 276 | 2000 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Retail facility in Lewisville, TX | 8,711 | 3,485 | 11,263 | — | — | 3,485 | 11,263 | 14,748 | 352 | 2004 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Industrial facility in Wageningen, Netherlands | 17,293 | 5,227 | 18,793 | — | (55 | ) | 5,154 | 18,811 | 23,965 | 599 | 2013 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||
Office facility in Haibach, Germany | 8,690 | 1,767 | 12,229 | — | (195 | ) | 1,743 | 12,058 | 13,801 | 390 | 1993 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||
Net-lease self-storage facility in Palm Coast, FL | — | 1,994 | 4,982 | — | — | 1,994 | 4,982 | 6,976 | 197 | 2001 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Office facility in Auburn Hills, MI | 5,473 | 1,910 | 6,773 | — | — | 1,910 | 6,773 | 8,683 | 216 | 2012 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Net-lease self-storage facility in Holiday, FL | — | 1,730 | 4,213 | — | — | 1,730 | 4,213 | 5,943 | 162 | 1975 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Office facility in Tempe, AZ | 14,108 | — | 19,533 | — | — | — | 19,533 | 19,533 | 603 | 2000 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Office facility in Tucson, AZ | — | 2,448 | 17,353 | — | — | 2,448 | 17,353 | 19,801 | 543 | 2002 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Industrial facility in Drunen, Netherlands | — | 2,316 | 9,370 | — | (163 | ) | 2,284 | 9,239 | 11,523 | 288 | 2014 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||
Industrial facility New Concord, OH | 1,416 | 958 | 2,309 | — | — | 958 | 2,309 | 3,267 | 88 | 1999 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Office facility in Krakow, Poland | 5,192 | 2,381 | 6,212 | — | (120 | ) | 2,348 | 6,125 | 8,473 | 192 | 2003 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||
Retail facility in Gelsenkirchen, Germany | 12,848 | 2,178 | 17,097 | — | (269 | ) | 2,147 | 16,859 | 19,006 | 523 | 2000 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||
Warehouse facilities in Mszczonow and Tomaszow Mazowiecki, Poland | — | 8,782 | 53,575 | — | (870 | ) | 8,660 | 52,827 | 61,487 | 1,777 | 1995; 2000 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||
Office facility in Plymouth, MN | 21,310 | 2,871 | 26,353 | — | — | 2,871 | 26,353 | 29,224 | 815 | 1999 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Office facility in San Antonio, TX | 12,390 | 3,094 | 16,624 | — | — | 3,094 | 16,624 | 19,718 | 523 | 2002 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Warehouse facility in Sered, Slovakia | — | 3,428 | 28,005 | — | (439 | ) | 3,380 | 27,614 | 30,994 | 866 | 2004 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||
Industrial facility in Tuchomerice, Czech Republic | — | 7,864 | 27,006 | — | (487 | ) | 7,754 | 26,629 | 34,383 | 824 | 1998 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||
Office facility in Warsaw, Poland | 37,151 | — | 44,990 | — | (628 | ) | — | 44,362 | 44,362 | 1,339 | 2015 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||
Warehouse facility in Kaunas, Lithuania | 38,847 | 10,199 | 47,391 | — | (804 | ) | 10,057 | 46,729 | 56,786 | 1,481 | 2008 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||
Net-lease student housing facility in Jacksonville, FL | 11,717 | 906 | 17,020 | — | — | 906 | 17,020 | 17,926 | 514 | 2015 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Warehouse facilities in Houston, TX | — | 791 | 1,990 | — | — | 791 | 1,990 | 2,781 | 66 | 1972 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Office facility in Oak Creek, WI | — | 2,858 | 11,055 | — | — | 2,858 | 11,055 | 13,913 | 367 | 2000 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Warehouse facilities in Shelbyville, IN; Kalamazoo, MI; Tiffin, OH; Andersonville, TN; and Millwood, WV | — | 2,868 | 37,571 | — | — | 2,868 | 37,571 | 40,439 | 1,268 | Various | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Warehouse facility in Perrysburg, OH | — | 806 | 11,922 | — | — | 806 | 11,922 | 12,728 | 415 | 1974 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Warehouse facility in Dillon, SC | — | 620 | 46,319 | 434 | — | 620 | 46,753 | 47,373 | 916 | 2019 | Oct. 2018 | 40 yrs. |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Increase (Decrease) in Net Investments (b) | Gross Amount at which Carried at Close of Period (c) (d) | Accumulated Depreciation (d) | Date of Construction | Date Acquired | Life on which Depreciation in Latest Statement of Income is Computed | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Description | Encumbrances | Land | Buildings | Land | Buildings | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Kaunas, Lithuania | 41,535 | 10,199 | 47,391 | 0 | 4,438 | 10,985 | 51,043 | 62,028 | 3,005 | 2008 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net-lease student housing facility in Jacksonville, FL | 11,776 | 906 | 17,020 | 0 | 0 | 906 | 17,020 | 17,926 | 954 | 2015 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in Houston, TX | 0 | 791 | 1,990 | 0 | 0 | 791 | 1,990 | 2,781 | 122 | 1972 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Oak Creek, WI | 0 | 2,858 | 11,055 | 0 | 0 | 2,858 | 11,055 | 13,913 | 681 | 2000 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in Shelbyville, IN; Kalamazoo, MI; Tiffin, OH; Andersonville, TN; and Millwood, WV | 0 | 2,868 | 37,571 | 0 | 0 | 2,868 | 37,571 | 40,439 | 2,354 | Various | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Perrysburg, OH | 0 | 806 | 11,922 | 0 | 0 | 806 | 11,922 | 12,728 | 771 | 1974 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Dillon, SC | 0 | 620 | 46,319 | 434 | 0 | 620 | 46,753 | 47,373 | 2,085 | 2019 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Zabia Wola, Poland | 17,921 | 4,742 | 23,270 | 5,636 | 2,627 | 5,107 | 31,168 | 36,275 | 1,754 | 1999 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Buffalo Grove, IL | 0 | 2,224 | 6,583 | 0 | 0 | 2,224 | 6,583 | 8,807 | 390 | 1992 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in McHenry, IL | 0 | 5,794 | 21,141 | 0 | 0 | 5,794 | 21,141 | 26,935 | 1,791 | 1990; 1999 | Dec. 2018 | 27 - 28 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Chicago, Cortland, Forest View, Morton Grove, and Northbrook, IL and Madison and Monona, WI | 0 | 23,267 | 9,166 | 0 | 0 | 23,267 | 9,166 | 32,433 | 724 | Various | Dec. 2018; Dec. 2019 | 35 - 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Kilgore, TX | 0 | 3,002 | 36,334 | 14,096 | (6) | 3,002 | 50,424 | 53,426 | 2,592 | 2007 | Dec. 2018 | 37 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in San Luis Potosi, Mexico | 0 | 2,787 | 12,945 | 0 | 0 | 2,787 | 12,945 | 15,732 | 770 | 2009 | Dec. 2018 | 39 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Legnica, Poland | 0 | 995 | 9,787 | 6,007 | 1,275 | 1,070 | 16,994 | 18,064 | 1,069 | 2002 | Dec. 2018 | 29 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Meru, France | 0 | 4,231 | 14,731 | 8 | 1,491 | 4,563 | 15,898 | 20,461 | 1,208 | 1997 | Dec. 2018 | 29 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Education facility in Portland, OR | 0 | 2,396 | 23,258 | 4,218 | 0 | 2,396 | 27,476 | 29,872 | 1,502 | 2006 | Feb. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Morrisville, NC | 0 | 2,374 | 30,140 | 2,172 | 0 | 2,374 | 32,312 | 34,686 | 1,577 | 1998 | Mar. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Inwood, WV | 20,010 | 3,265 | 36,692 | 0 | 0 | 3,265 | 36,692 | 39,957 | 1,791 | 2000 | Mar. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Hurricane, UT | 0 | 1,914 | 37,279 | 0 | 0 | 1,914 | 37,279 | 39,193 | 1,719 | 2011 | Mar. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Bensenville, IL | 0 | 8,640 | 4,948 | 0 | 300 | 8,940 | 4,948 | 13,888 | 366 | 1981 | Mar. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Katowice, Poland | 0 | 0 | 764 | 15,163 | 1,840 | 0 | 17,767 | 17,767 | 487 | 2019 | Apr. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Westerville, OH and North Wales, PA | 0 | 1,545 | 6,508 | 0 | 0 | 1,545 | 6,508 | 8,053 | 346 | 1960; 1997 | May 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Fargo, ND; Norristown, PA; and Atlanta, TX | 0 | 1,616 | 5,589 | 0 | 0 | 1,616 | 5,589 | 7,205 | 362 | Various | May 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Chihuahua and Juarez, Mexico | 0 | 3,426 | 7,286 | 0 | 0 | 3,426 | 7,286 | 10,712 | 427 | 1983; 1986; 1991 | May 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Statesville, NC | 0 | 1,683 | 13,827 | 0 | 0 | 1,683 | 13,827 | 15,510 | 655 | 1979 | Jun. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Conestoga, PA | 0 | 4,290 | 51,410 | 0 | 0 | 4,290 | 51,410 | 55,700 | 2,452 | 1950 | Jun. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Hartford and Milwaukee, WI | 0 | 1,471 | 21,293 | 0 | 0 | 1,471 | 21,293 | 22,764 | 928 | 1964; 1992; 1993 | Jul. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Brockville and Prescott, Canada | 0 | 2,025 | 9,519 | 0 | 0 | 2,025 | 9,519 | 11,544 | 415 | 1955; 1995 | Jul. 2019 | 40 yrs. |
W. P. Carey |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Increase (Decrease) in Net Investments (b) | Gross Amount at which Carried at Close of Period (c) (d) | Accumulated Depreciation (d) | Date of Construction | Date Acquired | Life on which Depreciation in Latest Statement of Income is Computed | ||||||||||||||||||||||||||
Description | Encumbrances | Land | Buildings | Land | Buildings | Total | |||||||||||||||||||||||||||
Warehouse facility in Zabia Wola, Poland | 16,970 | 4,742 | 23,270 | 5,636 | (438 | ) | 4,676 | 28,534 | 33,210 | 843 | 1999 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||
Office facility in Buffalo Grove, IL | — | 2,224 | 6,583 | — | — | 2,224 | 6,583 | 8,807 | 210 | 1992 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||
Warehouse facilities in McHenry, IL | — | 5,794 | 21,141 | — | — | 5,794 | 21,141 | 26,935 | 917 | 1990; 1999 | Dec. 2018 | 27 - 28 yrs. | |||||||||||||||||||||
Industrial facilities in Chicago, Cortland, Forest View, Morton Grove, and Northbrook, IL and Madison and Monona, WI | — | 23,267 | 9,166 | — | — | 23,267 | 9,166 | 32,433 | 354 | Various | Dec. 2018; Dec. 2019 | 35 - 40 yrs. | |||||||||||||||||||||
Warehouse facility in Kilgore, TX | — | 3,002 | 36,334 | 14,096 | (6 | ) | 3,002 | 50,424 | 53,426 | 1,161 | 2007 | Dec. 2018 | 37 yrs. | ||||||||||||||||||||
Industrial facility in San Luis Potosi, Mexico | — | 2,787 | 12,945 | — | — | 2,787 | 12,945 | 15,732 | 391 | 2009 | Dec. 2018 | 39 yrs. | |||||||||||||||||||||
Industrial facility in Legnica, Poland | — | 995 | 9,787 | 6,007 | (252 | ) | 979 | 15,558 | 16,537 | 459 | 2002 | Dec. 2018 | 29 yrs. | ||||||||||||||||||||
Industrial facility in Meru, France | — | 4,231 | 14,731 | 8 | (238 | ) | 4,178 | 14,554 | 18,732 | 557 | 1997 | Dec. 2018 | 29 yrs. | ||||||||||||||||||||
Education facility in Portland, OR | — | 2,396 | 23,258 | 10 | — | 2,396 | 23,268 | 25,664 | 513 | 2006 | Feb. 2019 | 40 yrs. | |||||||||||||||||||||
Office facility in Morrisville, NC | — | 2,374 | 30,140 | — | — | 2,374 | 30,140 | 32,514 | 693 | 1998 | Mar. 2019 | 40 yrs. | |||||||||||||||||||||
Warehouse facility in Inwood, WV | 20,579 | 3,265 | 36,692 | — | — | 3,265 | 36,692 | 39,957 | 777 | 2000 | Mar. 2019 | 40 yrs. | |||||||||||||||||||||
Industrial facility in Hurricane, UT | — | 1,914 | 37,279 | — | — | 1,914 | 37,279 | 39,193 | 745 | 2011 | Mar. 2019 | 40 yrs. | |||||||||||||||||||||
Industrial facility in Bensenville, IL | — | 8,640 | 4,948 | — | 300 | 8,940 | 4,948 | 13,888 | 158 | 1981 | Mar. 2019 | 40 yrs. | |||||||||||||||||||||
Industrial facility in Katowice, Poland | — | — | 764 | 14,586 | 313 | — | 15,663 | 15,663 | 38 | 2019 | Apr. 2019 | 40 yrs. | |||||||||||||||||||||
Industrial facilities in Westerville, OH and North Wales, PA | — | 1,545 | 6,508 | — | — | 1,545 | 6,508 | 8,053 | 128 | 1960; 1997 | May 2019 | 40 yrs. | |||||||||||||||||||||
Industrial facilities in Fargo, ND; Norristown, PA; and Atlanta, TX | — | 1,616 | 5,589 | — | — | 1,616 | 5,589 | 7,205 | 134 | Various | May 2019 | 40 yrs. | |||||||||||||||||||||
Industrial facilities in Chihuahua and Juarez, Mexico | — | 3,426 | 7,286 | — | — | 3,426 | 7,286 | 10,712 | 158 | 1983; 1986; 1991 | May 2019 | 40 yrs. | |||||||||||||||||||||
Warehouse facility in Statesville, NC | — | 1,683 | 13,827 | — | — | 1,683 | 13,827 | 15,510 | 238 | 1979 | Jun. 2019 | 40 yrs. | |||||||||||||||||||||
Industrial facility in Conestoga, PA | — | 4,290 | 51,410 | — | — | 4,290 | 51,410 | 55,700 | 822 | 1950 | Jun. 2019 | 40 yrs. | |||||||||||||||||||||
Industrial facilities in Hartford and Milwaukee, WI | — | 1,471 | 21,293 | — | — | 1,471 | 21,293 | 22,764 | 290 | 1964; 1992; 1993 | Jul. 2019 | 40 yrs. | |||||||||||||||||||||
Industrial facilities in Brockville and Prescott, Canada | — | 2,025 | 9,519 | — | — | 2,025 | 9,519 | 11,544 | 127 | 1955; 1995 | Jul. 2019 | 40 yrs. | |||||||||||||||||||||
Industrial facility in Dordrecht, Netherlands | — | 3,233 | 10,954 | — | 328 | 3,307 | 11,208 | 14,515 | 76 | 1986 | Sep. 2019 | 40 yrs. | |||||||||||||||||||||
Industrial facilities in York, PA and Lexington, SC | — | 4,155 | 22,930 | — | — | 4,155 | 22,930 | 27,085 | 197 | 1968; 1971 | Oct. 2019 | 40 yrs. | |||||||||||||||||||||
Industrial facility in Queretaro, Mexico | — | 2,851 | 12,748 | — | — | 2,851 | 12,748 | 15,599 | 99 | 1999 | Oct. 2019 | 40 yrs. | |||||||||||||||||||||
Office facility in Dearborn, MI | — | 1,431 | 5,402 | — | — | 1,431 | 5,402 | 6,833 | 43 | 2002 | Oct. 2019 | 40 yrs. |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Increase (Decrease) in Net Investments (b) | Gross Amount at which Carried at Close of Period (c) (d) | Accumulated Depreciation (d) | Date of Construction | Date Acquired | Life on which Depreciation in Latest Statement of Income is Computed | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Description | Encumbrances | Land | Buildings | Land | Buildings | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Dordrecht, Netherlands | 0 | 3,233 | 10,954 | 0 | 1,647 | 3,613 | 12,221 | 15,834 | 397 | 1986 | Sep. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in York, PA and Lexington, SC | 0 | 4,155 | 22,930 | 0 | 0 | 4,155 | 22,930 | 27,085 | 998 | 1968; 1971 | Oct. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Queretaro, Mexico | 0 | 2,851 | 12,748 | 0 | (3) | 2,851 | 12,745 | 15,596 | 501 | 1999 | Oct. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Dearborn, MI | 0 | 1,431 | 5,402 | 0 | 0 | 1,431 | 5,402 | 6,833 | 218 | 2002 | Oct. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Houston, TX and Metairie, LA and office facilities in Houston, TX and Mason, OH | 0 | 6,130 | 24,981 | 0 | 0 | 6,130 | 24,981 | 31,111 | 856 | Various | Nov. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Pardubice, Czech Republic | 0 | 1,694 | 8,793 | 0 | 1,190 | 1,886 | 9,791 | 11,677 | 291 | 1970 | Nov. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in Brabrand, Denmark and Arlandastad, Sweden | 0 | 6,499 | 27,899 | 0 | 4,819 | 7,453 | 31,764 | 39,217 | 961 | 2012; 2017 | Nov. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Hamburg, PA | 0 | 4,520 | 34,167 | 0 | 0 | 4,520 | 34,167 | 38,687 | 998 | 2003 | Dec. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Charlotte, NC | 0 | 6,481 | 82,936 | 0 | 0 | 6,481 | 82,936 | 89,417 | 2,436 | 1995 | Dec. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Buffalo Grove, IL | 0 | 3,287 | 10,167 | 0 | 0 | 3,287 | 10,167 | 13,454 | 541 | 1987 | Dec. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Hvidovre, Denmark | 0 | 1,931 | 4,243 | 0 | 623 | 2,135 | 4,662 | 6,797 | 171 | 2007 | Dec. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Huddersfield, United Kingdom | 0 | 8,659 | 29,752 | 0 | 1,295 | 8,951 | 30,755 | 39,706 | 817 | 2005 | Dec. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Newark, United Kingdom | 0 | 21,869 | 74,777 | 0 | 3,774 | 22,723 | 77,697 | 100,420 | 1,916 | 2006 | Jan. 2020 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Aurora, OR | 0 | 2,914 | 21,459 | 0 | 0 | 2,914 | 21,459 | 24,373 | 503 | 1976 | Jan. 2020 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Vojens, Denmark | 0 | 1,031 | 8,784 | 0 | 1,129 | 1,149 | 9,795 | 10,944 | 225 | 2020 | Jan. 2020 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Kitzingen, Germany | 0 | 4,812 | 41,125 | 0 | 3,264 | 5,155 | 44,046 | 49,201 | 897 | 1967 | Mar. 2020 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Knoxville, TN | 0 | 2,455 | 47,446 | 0 | 0 | 2,455 | 47,446 | 49,901 | 616 | 2020 | Jun. 2020 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Bluffton and Plymouth, IN | 0 | 674 | 33,519 | 0 | 0 | 674 | 33,519 | 34,193 | 229 | 1981; 2014 | Sep. 2020 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Huntley, IL | 0 | 5,260 | 26,617 | 0 | 0 | 5,260 | 26,617 | 31,877 | 169 | 1996 | Sep. 2020 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Winter Haven, FL; Belvedere, IL; and Fayetteville, NC | 0 | 8,232 | 31,745 | 0 | 0 | 8,232 | 31,745 | 39,977 | 176 | 1954; 1984; 1997 | Oct. 2020 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities located throughout Spain | 0 | 34,216 | 57,151 | 0 | 4,475 | 35,892 | 59,950 | 95,842 | 258 | Various | Oct. 2020 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Little Canada, MN | 0 | 3,384 | 23,422 | 0 | 0 | 3,384 | 23,422 | 26,806 | 101 | 1987 | Oct. 2020 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Hurricane, UT | 0 | 5,154 | 22,893 | 0 | 0 | 5,154 | 22,893 | 28,047 | 38 | 2005 | Dec. 2020 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Bethlehem, PA and Waco, TX | 0 | 4,673 | 19,111 | 0 | 0 | 4,673 | 19,111 | 23,784 | 29 | Various | Dec. 2020 | 40 yrs. |
W. P. Carey |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Increase (Decrease) in Net Investments (b) | Gross Amount at which Carried at Close of Period (c) (d) | Accumulated Depreciation (d) | Date of Construction | Date Acquired | Life on which Depreciation in Latest Statement of Income is Computed | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Description | Encumbrances | Land | Buildings | Land | Buildings | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in St. Charles, MO and Green Bay, WI | 0 | 2,966 | 20,055 | 0 | 0 | 2,966 | 20,055 | 23,021 | 19 | 1981; 2009 | Dec. 2020 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Pleasanton, KS; Savage, MN; Grove City, OH; and Mahanoy City, PA | 0 | 7,717 | 21,569 | 0 | 0 | 7,717 | 21,569 | 23,021 | 0 | Various | Dec. 2020 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 1,102,833 | $ | 2,120,413 | $ | 8,148,975 | $ | 709,829 | $ | (242,465) | $ | 2,012,688 | $ | 8,724,064 | $ | 10,736,752 | $ | 1,206,912 |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Increase (Decrease) in Net Investments (b) | Gross Amount at which Carried at Close of Period (c) (d) | Accumulated Depreciation (d) | Date of Construction | Date Acquired | Life on which Depreciation in Latest Statement of Income is Computed | |||||||||||||||||||||||||||||||||||
Description | Encumbrances | Land | Buildings | Land | Buildings | Total | ||||||||||||||||||||||||||||||||||||
Industrial facilities in Houston, TX and Metairie, LA and office facilities in Houston, TX and Mason, OH | — | 6,130 | 24,981 | — | — | 6,130 | 24,981 | 31,111 | 116 | Various | Nov. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||
Industrial facility in Pardubice, Czech Republic | — | 1,694 | 8,793 | — | 203 | 1,727 | 8,963 | 10,690 | — | 1970 | Nov. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||
Warehouse facilities in Brabrand, Denmark and Arlandastad, Sweden | — | 6,499 | 27,899 | — | 858 | 6,665 | 28,591 | 35,256 | 70 | 2012; 2017 | Nov. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||
Retail facility in Hamburg, PA | — | 4,520 | 34,167 | — | — | 4,520 | 34,167 | 38,687 | — | 2003 | Dec. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||
Warehouse facility in Charlotte, NC | — | 6,481 | 82,936 | — | — | 6,481 | 82,936 | 89,417 | — | 1995 | Dec. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||
Warehouse facility in Buffalo Grove, IL | — | 3,287 | 10,167 | — | — | 3,287 | 10,167 | 13,454 | 17 | 1987 | Dec. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||
Industrial facility in Hvidovre, Denmark | — | 1,931 | 4,243 | — | 77 | 1,955 | 4,296 | 6,251 | — | 2007 | Dec. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||
Warehouse facility in Huddersfield, United Kingdom | — | 8,659 | 29,752 | — | — | 8,659 | 29,752 | 38,411 | — | 2005 | Dec. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||
$ | 1,387,046 | $ | 2,028,107 | $ | 7,687,370 | $ | 506,074 | $ | (518,047 | ) | $ | 1,875,065 | $ | 7,828,439 | $ | 9,703,504 | $ | 950,452 |
W. P. Carey |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Increase (Decrease) in Net Investments (b) | Gross Amount at which Carried at Close of Period Total | Date of Construction | Date Acquired | |||||||||||||||||||||||
Description | Encumbrances | Land | Buildings | |||||||||||||||||||||||||
Direct Financing Method | ||||||||||||||||||||||||||||
Industrial facilities in Irving and Houston, TX | $ | — | $ | — | $ | 27,599 | $ | — | $ | (4,074 | ) | $ | 23,525 | 1978 | Jan. 1998 | |||||||||||||
Retail facility in Freehold, NJ | 7,637 | — | 17,067 | — | (278 | ) | 16,789 | 2004 | Sep. 2012 | |||||||||||||||||||
Office facilities in Corpus Christi, Odessa, San Marcos, and Waco, TX | 2,434 | 2,089 | 14,211 | — | (937 | ) | 15,363 | 1969; 1996; 2000 | Sep. 2012 | |||||||||||||||||||
Retail facilities in Arnstadt, Borken, Bünde, Dorsten, Duisburg, Freiberg, Gütersloh, Leimbach-Kaiserro, Monheim, Oberhausen, Osnabrück, Rodewisch, Sankt Augustin, Schmalkalden, Stendal, and Wuppertal Germany | — | 28,734 | 145,854 | 5,582 | (23,090 | ) | 157,080 | Various | Sep. 2012 | |||||||||||||||||||
Warehouse facility in Brierley Hill, United Kingdom | — | 2,147 | 12,357 | — | (1,553 | ) | 12,951 | 1996 | Sep. 2012 | |||||||||||||||||||
Industrial and warehouse facility in Mesquite, TX | 5,580 | 2,851 | 15,899 | — | (2,377 | ) | 16,373 | 1972 | Sep. 2012 | |||||||||||||||||||
Industrial facility in Rochester, MN | 2,184 | 881 | 17,039 | — | (2,336 | ) | 15,584 | 1997 | Sep. 2012 | |||||||||||||||||||
Office facility in Irvine, CA | 5,785 | — | 17,027 | — | (2,230 | ) | 14,797 | 1981 | Sep. 2012 | |||||||||||||||||||
Office facility in Scottsdale, AZ | 17,819 | — | 43,570 | — | (1,108 | ) | 42,462 | 1977 | Jan. 2014 | |||||||||||||||||||
Retail facilities in El Paso and Fabens, TX | — | 4,777 | 17,823 | — | (54 | ) | 22,546 | Various | Jan. 2014 | |||||||||||||||||||
Industrial facility in Dallas, TX | — | 3,190 | 10,010 | — | 161 | 13,361 | 1968 | Jan. 2014 | ||||||||||||||||||||
Industrial facility in Eagan, MN | — | — | 11,548 | — | (359 | ) | 11,189 | 1975 | Jan. 2014 | |||||||||||||||||||
Industrial facilities in Albemarle and Old Fort, NC and Holmesville, OH | — | 6,542 | 20,668 | 5,317 | (7,297 | ) | 25,230 | 1955; 1966; 1970 | Jan. 2014 | |||||||||||||||||||
Industrial facilities located throughout France | — | — | 27,270 | — | (7,877 | ) | 19,393 | Various | Jan. 2014 | |||||||||||||||||||
Retail facility in Gronau, Germany | — | 281 | 4,401 | — | (818 | ) | 3,864 | 1989 | Jan. 2014 | |||||||||||||||||||
Industrial and warehouse facility in Newbridge, United Kingdom | 9,818 | 6,851 | 22,868 | — | (7,378 | ) | 22,341 | 1998 | Jan. 2014 | |||||||||||||||||||
Education facility in Mooresville, NC | 2,009 | 1,795 | 15,955 | — | — | 17,750 | 2002 | Jan. 2014 | ||||||||||||||||||||
Industrial facility in Mount Carmel, IL | — | 135 | 3,265 | — | (150 | ) | 3,250 | 1896 | Jan. 2014 | |||||||||||||||||||
Retail facility in Vantaa, Finland | — | 5,291 | 15,522 | — | (3,636 | ) | 17,177 | 2004 | Jan. 2014 | |||||||||||||||||||
Retail facility in Linköping, Sweden | — | 1,484 | 9,402 | — | (3,282 | ) | 7,604 | 2004 | Jan. 2014 | |||||||||||||||||||
Industrial facility in Calgary, Canada | — | — | 7,076 | — | (985 | ) | 6,091 | 1965 | Jan. 2014 | |||||||||||||||||||
Industrial facilities in Kearney, MO; Fair Bluff, NC; York, NE; Walbridge, OH; Middlesex Township, PA; Rocky Mount, VA; and Martinsburg, WV | 6,783 | 5,780 | 40,860 | — | (380 | ) | 46,260 | Various | Jan. 2014 | |||||||||||||||||||
Movie theater in Pensacola, FL | — | — | 13,034 | — | (6,083 | ) | 6,951 | 2001 | Jan. 2014 | |||||||||||||||||||
Industrial facility in Monheim, Germany | — | 2,939 | 7,379 | — | (2,174 | ) | 8,144 | 1992 | Jan. 2014 | |||||||||||||||||||
Industrial facility in Göppingen, Germany | — | 10,717 | 60,120 | — | (15,177 | ) | 55,660 | 1930 | Jan. 2014 | |||||||||||||||||||
Industrial facility in Sankt Ingbert, Germany | — | 2,786 | 26,902 | — | (6,168 | ) | 23,520 | 1960 | Jan. 2014 | |||||||||||||||||||
Industrial and office facility in Nagold, Germany | — | 4,553 | 17,675 | — | (310 | ) | 21,918 | 1994 | Oct. 2018 | |||||||||||||||||||
Industrial facility in Glendale Heights, IL | — | 4,237 | 45,173 | — | 269 | 49,679 | 1991 | Oct. 2018 | ||||||||||||||||||||
Industrial facilities in Colton, Fresno, Orange, Pomona, and San Diego, CA; Holly Hill, FL; Rockmart, GA; Ooltewah, TN; and Dallas, TX | 9,967 | 2,068 | 31,256 | — | (254 | ) | 33,070 | Various | Oct. 2018 | |||||||||||||||||||
Warehouse facilities in Bristol, Leeds, Liverpool, Luton, Newport, Plymouth, and Southampton, United Kingdom | — | 1,062 | 23,087 | — | 497 | 24,646 | Various | Oct. 2018 | ||||||||||||||||||||
Warehouse facility in Gieten, Netherlands | — | — | 15,258 | — | (248 | ) | 15,010 | 1985 | Oct. 2018 | |||||||||||||||||||
Warehouse facility in Oxnard, CA | — | — | 10,960 | — | (305 | ) | 10,655 | 1975 | Oct. 2018 |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Increase (Decrease) in Net Investments (b) | Gross Amount at which Carried at Close of Period Total | Date of Construction | Date Acquired | |||||||||||||||||||||||||||||||||||||||||||||
Description | Encumbrances | Land | Buildings | |||||||||||||||||||||||||||||||||||||||||||||||
Direct Financing Method | ||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Irving and Houston, TX | $ | 0 | $ | 0 | $ | 27,599 | $ | 0 | $ | (4,117) | $ | 23,482 | 1978 | Jan. 1998 | ||||||||||||||||||||||||||||||||||||
Retail facility in Freehold, NJ | 7,523 | 0 | 17,067 | 0 | (327) | 16,740 | 2004 | Sep. 2012 | ||||||||||||||||||||||||||||||||||||||||||
Office facilities in Corpus Christi, Odessa, San Marcos, and Waco, TX | 1,899 | 2,089 | 14,211 | 0 | (1,127) | 15,173 | 1969; 1996; 2000 | Sep. 2012 | ||||||||||||||||||||||||||||||||||||||||||
Retail facilities located throughout Germany | 0 | 28,734 | 145,854 | 5,582 | (9,000) | 171,170 | Various | Sep. 2012 | ||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Brierley Hill, United Kingdom | 0 | 2,147 | 12,357 | 0 | (1,064) | 13,440 | 1996 | Sep. 2012 | ||||||||||||||||||||||||||||||||||||||||||
Industrial and warehouse facility in Mesquite, TX | 5,391 | 2,851 | 15,899 | 0 | (2,733) | 16,017 | 1972 | Sep. 2012 | ||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Rochester, MN | 1,632 | 881 | 17,039 | 0 | (2,678) | 15,242 | 1997 | Sep. 2012 | ||||||||||||||||||||||||||||||||||||||||||
Office facility in Irvine, CA | 5,588 | 0 | 17,027 | 0 | (2,895) | 14,132 | 1981 | Sep. 2012 | ||||||||||||||||||||||||||||||||||||||||||
Retail facilities in El Paso and Fabens, TX | 0 | 4,777 | 17,823 | 0 | (69) | 22,531 | Various | Jan. 2014 | ||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Dallas, TX | 0 | 3,190 | 10,010 | 0 | 104 | 13,304 | 1968 | Jan. 2014 | ||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Eagan, MN | 0 | 0 | 11,548 | 0 | (442) | 11,106 | 1975 | Jan. 2014 | ||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Albemarle and Old Fort, NC and Holmesville, OH | 0 | 6,542 | 20,668 | 5,317 | (7,851) | 24,676 | 1955; 1966; 1970 | Jan. 2014 | ||||||||||||||||||||||||||||||||||||||||||
Retail facility in Gronau, Germany | 0 | 281 | 4,401 | 0 | (461) | 4,221 | 1989 | Jan. 2014 | ||||||||||||||||||||||||||||||||||||||||||
Industrial and warehouse facility in Newbridge, United Kingdom | 9,900 | 6,851 | 22,868 | 0 | (6,941) | 22,778 | 1998 | Jan. 2014 | ||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Mount Carmel, IL | 0 | 135 | 3,265 | 0 | (197) | 3,203 | 1896 | Jan. 2014 | ||||||||||||||||||||||||||||||||||||||||||
Retail facility in Vantaa, Finland | 0 | 5,291 | 15,522 | 0 | (2,051) | 18,762 | 2004 | Jan. 2014 | ||||||||||||||||||||||||||||||||||||||||||
Retail facility in Linköping, Sweden | 0 | 1,484 | 9,402 | 0 | (2,239) | 8,647 | 2004 | Jan. 2014 | ||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Calgary, Canada | 0 | 0 | 7,076 | 0 | (863) | 6,213 | 1965 | Jan. 2014 | ||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Kearney, MO; Fair Bluff, NC; York, NE; Walbridge, OH; Middlesex Township, PA; Rocky Mount, VA; and Martinsburg, WV | 5,618 | 5,780 | 40,860 | 0 | (467) | 46,173 | Various | Jan. 2014 | ||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Monheim, Germany | 0 | 2,939 | 7,379 | 0 | (1,529) | 8,789 | 1992 | Jan. 2014 | ||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Göppingen, Germany | 0 | 10,717 | 60,120 | 0 | (10,747) | 60,090 | 1930 | Jan. 2014 | ||||||||||||||||||||||||||||||||||||||||||
Industrial and office facility in Nagold, Germany | 0 | 4,553 | 17,675 | 0 | 1,713 | 23,941 | 1994 | Oct. 2018 | ||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in Bristol, Leeds, Liverpool, Luton, Newport, Plymouth, and Southampton, United Kingdom | 0 | 1,062 | 23,087 | 0 | 1,298 | 25,447 | Various | Oct. 2018 | ||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Gieten, Netherlands | 0 | 0 | 15,258 | 0 | 1,131 | 16,389 | 1985 | Oct. 2018 | ||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Oxnard, CA | 0 | 0 | 10,960 | 0 | (622) | 10,338 | 1975 | Oct. 2018 | ||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Bartow, FL; Momence, IL; Smithfield, NC; Hudson, NY; and Ardmore, OK | 0 | 4,454 | 87,030 | 0 | 1,881 | 93,365 | Various | Oct. 2018 | ||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Countryside, IL | 0 | 563 | 1,457 | 0 | 26 | 2,046 | 1981 | Oct. 2018 | ||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Clarksville, TN | 3,464 | 1,680 | 10,180 | 0 | (33) | 11,827 | 1998 | Oct. 2018 | ||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Bluffton, IN | 1,706 | 503 | 3,407 | 0 | (21) | 3,889 | 1975 | Oct. 2018 | ||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Houston, TX | 0 | 0 | 5,977 | 0 | (61) | 5,916 | 1972 | Oct. 2018 | ||||||||||||||||||||||||||||||||||||||||||
Less: allowance for credit losses | (17,073) | (17,073) | ||||||||||||||||||||||||||||||||||||||||||||||||
$ | 42,721 | $ | 97,504 | $ | 673,026 | $ | 10,899 | $ | (69,455) | $ | 711,974 |
W. P. Carey |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Increase (Decrease) in Net Investments (b) | Gross Amount at which Carried at Close of Period Total | Date of Construction | Date Acquired | |||||||||||||||||||||||
Description | Encumbrances | Land | Buildings | |||||||||||||||||||||||||
Industrial facilities in Bartow, FL; Momence, IL; Smithfield, NC; Hudson, NY; and Ardmore, OK | — | 4,454 | 87,030 | — | 1,099 | 92,583 | Various | Oct. 2018 | ||||||||||||||||||||
Industrial facility in Countryside, IL | — | 563 | 1,457 | — | 16 | 2,036 | 1981 | Oct. 2018 | ||||||||||||||||||||
Industrial facility in Clarksville, TN | 3,688 | 1,680 | 10,180 | — | (7 | ) | 11,853 | 1998 | Oct. 2018 | |||||||||||||||||||
Industrial facility in Bluffton, IN | 1,737 | 503 | 3,407 | — | (11 | ) | 3,899 | 1975 | Oct. 2018 | |||||||||||||||||||
Warehouse facility in Houston, TX | — | — | 5,977 | — | (32 | ) | 5,945 | 1972 | Oct. 2018 | |||||||||||||||||||
$ | 75,441 | $ | 108,390 | $ | 876,186 | $ | 10,899 | $ | (98,926 | ) | $ | 896,549 |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Increase (Decrease) in Net Investments (b) | Gross Amount at which Carried at Close of Period (c) (d) | Life on which Depreciation in Latest Statement of Income is Computed | Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Increase (Decrease) in Net Investments (b) | Gross Amount at which Carried at Close of Period (c) (d) | Life on which Depreciation in Latest Statement of Income is Computed | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Description | Encumbrances | Land | Buildings | Personal Property | Land | Buildings | Personal Property | Total | Accumulated Depreciation (d) | Date of Construction | Date Acquired | Description | Encumbrances | Land | Buildings | Personal Property | Land | Buildings | Personal Property | Total | Accumulated Depreciation (d) | Date of Construction | Date Acquired | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Land, Buildings and Improvements Attributable to Operating Properties – Hotels | Land, Buildings and Improvements Attributable to Operating Properties – Hotels | Land, Buildings and Improvements Attributable to Operating Properties – Hotels | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bloomington, MN | $ | — | $ | 3,810 | $ | 29,126 | $ | 3,622 | $ | 5,974 | $ | (247 | ) | $ | 3,874 | $ | 31,208 | $ | 7,203 | $ | 42,285 | $ | 9,855 | 2008 | Jan. 2014 | 34 yrs. | Bloomington, MN | $ | 0 | $ | 3,810 | $ | 29,126 | $ | 3,622 | $ | 6,164 | $ | (247) | $ | 3,874 | $ | 31,181 | $ | 7,420 | $ | 42,475 | $ | 11,402 | 2008 | Jan. 2014 | 34 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Land, Buildings and Improvements Attributable to Operating Properties – Self-Storage Facilities | Land, Buildings and Improvements Attributable to Operating Properties – Self-Storage Facilities | Land, Buildings and Improvements Attributable to Operating Properties – Self-Storage Facilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loves Park, IL | — | 1,412 | 4,853 | — | 4 | — | 1,412 | 4,853 | 4 | 6,269 | 214 | 1997 | Oct. 2018 | 40 yrs. | Loves Park, IL | 0 | 1,412 | 4,853 | 0 | 28 | 0 | 1,412 | 4,862 | 19 | 6,293 | 400 | 1997 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cherry Valley, IL | — | 1,339 | 4,160 | — | — | — | 1,339 | 4,160 | — | 5,499 | 179 | 1988 | Oct. 2018 | 40 yrs. | Cherry Valley, IL | 0 | 1,339 | 4,160 | 0 | 3 | 0 | 1,339 | 4,160 | 3 | 5,502 | 332 | 1988 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rockford, IL | — | 695 | 3,873 | — | 14 | — | 695 | 3,883 | 4 | 4,582 | 151 | 1979 | Oct. 2018 | 40 yrs. | Rockford, IL | 0 | 695 | 3,873 | 0 | 19 | 0 | 695 | 3,883 | 9 | 4,587 | 282 | 1979 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rockford, IL | — | 87 | 785 | — | — | — | 87 | 785 | — | 872 | 28 | 1979 | Oct. 2018 | 40 yrs. | Rockford, IL | 0 | 87 | 785 | 0 | 0 | 0 | 87 | 785 | 0 | 872 | 51 | 1979 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rockford, IL | — | 454 | 4,724 | — | — | — | 454 | 4,724 | — | 5,178 | 152 | 1957 | Oct. 2018 | 40 yrs. | Rockford, IL | 0 | 454 | 4,724 | 0 | 10 | 0 | 454 | 4,733 | 1 | 5,188 | 282 | 1957 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Peoria, IL | — | 444 | 4,944 | — | 37 | — | 443 | 4,964 | 18 | 5,425 | 215 | 1990 | Oct. 2018 | 40 yrs. | Peoria, IL | 0 | 444 | 4,944 | 0 | 117 | 0 | 443 | 5,043 | 19 | 5,505 | 411 | 1990 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
East Peoria, IL | — | 268 | 3,290 | — | 53 | — | 268 | 3,336 | 7 | 3,611 | 138 | 1986 | Oct. 2018 | 40 yrs. | East Peoria, IL | 0 | 268 | 3,290 | 0 | 92 | 0 | 268 | 3,374 | 8 | 3,650 | 266 | 1986 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loves Park, IL | — | 721 | 2,973 | — | 17 | — | 721 | 2,990 | — | 3,711 | 120 | 1978 | Oct. 2018 | 40 yrs. | Loves Park, IL | 0 | 721 | 2,973 | 0 | 17 | 0 | 721 | 2,990 | 0 | 3,711 | 223 | 1978 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Winder, GA | — | 338 | 1,310 | — | 2 | — | 338 | 1,310 | 2 | 1,650 | 55 | 2006 | Oct. 2018 | 40 yrs. | Winder, GA | 0 | 338 | 1,310 | 0 | 40 | 0 | 338 | 1,340 | 10 | 1,688 | 106 | 2006 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Winder, GA | — | 821 | 3,180 | — | — | — | 821 | 3,180 | — | 4,001 | 134 | 2001 | Oct. 2018 | 40 yrs. | Winder, GA | 0 | 821 | 3,180 | 0 | 4 | 0 | 821 | 3,180 | 4 | 4,005 | 249 | 2001 | Oct. 2018 | 40 yrs. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | — | $ | 10,389 | $ | 63,218 | $ | 3,622 | $ | 6,101 | $ | (247 | ) | $ | 10,452 | $ | 65,393 | $ | 7,238 | $ | 83,083 | $ | 11,241 | $ | 0 | $ | 10,389 | $ | 63,218 | $ | 3,622 | $ | 6,494 | $ | (247) | $ | 10,452 | $ | 65,531 | $ | 7,493 | $ | 83,476 | $ | 14,004 |
W. P. Carey |
Reconciliation of Land, Buildings and Improvements Subject to Operating Leases | |||||||||||||||||
Years Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Beginning balance | $ | 9,703,504 | $ | 8,717,612 | $ | 5,334,446 | |||||||||||
Acquisitions | 555,032 | 610,381 | 734,963 | ||||||||||||||
Foreign currency translation adjustment | 290,559 | (37,032) | (88,715) | ||||||||||||||
Reclassification from direct financing lease | 183,789 | 76,934 | 15,998 | ||||||||||||||
Reclassification from real estate under construction | 176,211 | 122,519 | 86,784 | ||||||||||||||
Dispositions | (167,671) | (90,488) | (296,543) | ||||||||||||||
Capital improvements | 35,722 | 18,860 | 25,727 | ||||||||||||||
Impairment charges | (26,343) | (1,345) | (3,030) | ||||||||||||||
Reclassification to assets held for sale | (14,051) | 0 | 0 | ||||||||||||||
Reclassification from operating properties | 0 | 291,750 | 0 | ||||||||||||||
CPA:17 Merger measurement period adjustments | 0 | (5,687) | 0 | ||||||||||||||
Acquisitions through CPA:17 Merger | 0 | 0 | 2,907,982 | ||||||||||||||
Ending balance | $ | 10,736,752 | $ | 9,703,504 | $ | 8,717,612 |
Reconciliation of Land, Buildings and Improvements Subject to Operating Leases | |||||||||||
Years Ended December 31, | |||||||||||
2019 | 2018 | 2017 | |||||||||
Beginning balance | $ | 8,717,612 | $ | 5,334,446 | $ | 5,182,267 | |||||
Acquisitions | 610,381 | 734,963 | 23,462 | ||||||||
Reclassification from operating properties | 291,750 | — | — | ||||||||
Reclassification from real estate under construction | 122,519 | 86,784 | 51,198 | ||||||||
Dispositions | (90,488 | ) | (296,543 | ) | (131,549 | ) | |||||
Reclassification from direct financing lease | 76,934 | 15,998 | 1,611 | ||||||||
Foreign currency translation adjustment | (37,032 | ) | (88,715 | ) | 192,580 | ||||||
Capital improvements | 18,860 | 25,727 | 17,778 | ||||||||
CPA:17 Merger measurement period adjustments | (5,687 | ) | — | — | |||||||
Impairment charges | (1,345 | ) | (3,030 | ) | (2,901 | ) | |||||
Acquisitions through CPA:17 Merger | — | 2,907,982 | — | ||||||||
Ending balance | $ | 9,703,504 | $ | 8,717,612 | $ | 5,334,446 |
Reconciliation of Accumulated Depreciation for Land, Buildings and Improvements Subject to Operating Leases | |||||||||||||||||
Years Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Beginning balance | $ | 950,452 | $ | 724,550 | $ | 613,543 | |||||||||||
Depreciation expense | 259,337 | 232,927 | 162,119 | ||||||||||||||
Dispositions | (24,786) | (6,109) | (41,338) | ||||||||||||||
Foreign currency translation adjustment | 24,764 | (916) | (9,774) | ||||||||||||||
Reclassification to assets held for sale | (2,855) | 0 | 0 | ||||||||||||||
Ending balance | $ | 1,206,912 | $ | 950,452 | $ | 724,550 |
Reconciliation of Land, Buildings and Improvements Attributable to Operating Properties | |||||||||||||||||
Years Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Beginning balance | $ | 83,083 | $ | 466,050 | $ | 83,047 | |||||||||||
Capital improvements | 393 | 1,853 | 3,080 | ||||||||||||||
Reclassification to operating leases | 0 | (291,750) | 0 | ||||||||||||||
Reclassification to assets held for sale | 0 | (94,078) | 0 | ||||||||||||||
Reclassification from real estate under construction | 0 | 1,008 | 0 | ||||||||||||||
Acquisitions through CPA:17 Merger | 0 | 0 | 423,530 | ||||||||||||||
Dispositions | 0 | 0 | (43,607) | ||||||||||||||
Ending balance | $ | 83,476 | $ | 83,083 | $ | 466,050 |
Reconciliation of Accumulated Depreciation for Land, Buildings and Improvements Subject to Operating Leases | Reconciliation of Accumulated Depreciation for Land, Buildings and Improvements Attributable to Operating Properties | |||||||||||||||||||||||||||
Years Ended December 31, | Years Ended December 31, | |||||||||||||||||||||||||||
2019 | 2018 | 2017 | 2020 | 2019 | 2018 | |||||||||||||||||||||||
Beginning balance | $ | 724,550 | $ | 613,543 | $ | 472,294 | Beginning balance | $ | 11,241 | $ | 10,234 | $ | 16,419 | |||||||||||||||
Depreciation expense | 232,927 | 162,119 | 144,183 | Depreciation expense | 2,763 | 2,553 | 4,240 | |||||||||||||||||||||
Reclassification to assets held for sale | Reclassification to assets held for sale | 0 | (1,546) | 0 | ||||||||||||||||||||||||
Dispositions | (6,109 | ) | (41,338 | ) | (17,770 | ) | Dispositions | 0 | 0 | (10,425) | ||||||||||||||||||
Foreign currency translation adjustment | (916 | ) | (9,774 | ) | 14,836 | |||||||||||||||||||||||
Ending balance | $ | 950,452 | $ | 724,550 | $ | 613,543 | Ending balance | $ | 14,004 | $ | 11,241 | $ | 10,234 |
Reconciliation of Land, Buildings and Improvements Attributable to Operating Properties | |||||||||||
Years Ended December 31, | |||||||||||
2019 | 2018 | 2017 | |||||||||
Beginning balance | $ | 466,050 | $ | 83,047 | $ | 81,711 | |||||
Reclassification to operating leases | (291,750 | ) | — | — | |||||||
Reclassification to assets held for sale | (94,078 | ) | — | — | |||||||
Capital improvements | 1,853 | 3,080 | 1,336 | ||||||||
Reclassification from real estate under construction | 1,008 | — | — | ||||||||
Acquisitions through CPA:17 Merger | — | 423,530 | — | ||||||||
Dispositions | — | (43,607 | ) | — | |||||||
Ending balance | $ | 83,083 | $ | 466,050 | $ | 83,047 |
Reconciliation of Accumulated Depreciation for Land, Buildings and Improvements Attributable to Operating Properties | |||||||||||
Years Ended December 31, | |||||||||||
2019 | 2018 | 2017 | |||||||||
Beginning balance | $ | 10,234 | $ | 16,419 | $ | 12,143 | |||||
Depreciation expense | 2,553 | 4,240 | 4,276 | ||||||||
Reclassification to assets held for sale | (1,546 | ) | — | — | |||||||
Dispositions | — | (10,425 | ) | — | |||||||
Ending balance | $ | 11,241 | $ | 10,234 | $ | 16,419 |
W. P. Carey |
Interest Rate | Final Maturity Date | Carrying Amount | ||||||||||||||||||
Description | ||||||||||||||||||||
Financing agreement — retail facility | 7.5 | % | Mar. 2025 | $ | 12,893 | |||||||||||||||
Financing agreement — observation wheel | 7.5 | % | Jan. 2021 (a) | 11,250 | ||||||||||||||||
$ | 24,143 |
Interest Rate | Final Maturity Date | Fair Value | Carrying Amount | ||||||||||
Description | |||||||||||||
Financing agreement — observation wheel | 6.5 | % | Mar. 2020 | $ | 24,350 | $ | 24,350 | ||||||
Financing agreement — mezzanine loan | 9.0 | % | Apr. 2020 | 23,387 | 23,387 | ||||||||
$ | 47,737 | $ | 47,737 |
Reconciliation of Mortgage Loans on Real Estate | |||||||||||
Years Ended December 31, | |||||||||||
2019 | 2018 | 2017 | |||||||||
Beginning balance | $ | 57,737 | $ | — | $ | — | |||||
Repayments | (10,000 | ) | — | — | |||||||
Acquisitions through CPA:17 Merger | — | 57,737 | — | ||||||||
Ending balance | $ | 47,737 | $ | 57,737 | $ | — |
Reconciliation of Mortgage Loans on Real Estate | |||||||||||||||||
Years Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Beginning balance | $ | 47,737 | $ | 57,737 | $ | 0 | |||||||||||
(12,594) | 0 | 0 | |||||||||||||||
Repayments | (11,000) | (10,000) | 0 | ||||||||||||||
Acquisitions through CPA:17 Merger | 0 | 0 | 57,737 | ||||||||||||||
Ending balance | $ | 24,143 | $ | 47,737 | $ | 57,737 |
W. P. Carey |
W. P. Carey |
W. P. Carey |
Exhibit No. | Description | Method of Filing | |||||||||||||
3.1 | Articles of Amendment and Restatement | Incorporated by reference to Exhibit 3.1 to Current Report on Form 8-K filed June 16, 2017 | |||||||||||||
3.2 | Fifth Amended and Restated Bylaws of W. P. Carey Inc. | Incorporated by reference to Exhibit 3.2 to Current Report on Form 8-K filed June 16, 2017 | |||||||||||||
4.1 | Form of Common Stock Certificate | Incorporated by reference to Exhibit 4.1 to Annual Report on Form 10-K for the year ended December 31, 2012 filed February 26, 2013 | |||||||||||||
4.2 | Indenture, dated as of March 14, 2014, by and between W. P. Carey Inc., as issuer and U.S. Bank National Association, as trustee | Incorporated by reference to Exhibit 4.1 to Current Report on Form 8-K filed March 14, 2014 | |||||||||||||
4.3 | First Supplemental Indenture, dated as of March 14, 2014, by and between W. P. Carey Inc., as issuer, and U.S. Bank National Association, as trustee | Incorporated by reference to Exhibit 4.2 to Current Report on Form 8-K filed March 14, 2014 | |||||||||||||
4.4 | Form of Global Note Representing $500,000,000 Aggregate Principal Amount of 4.60% Senior Notes due 2024 | Incorporated by reference to Exhibit 4.3 to Current Report on Form 8-K filed March 14, 2014 | |||||||||||||
4.5 | Second Supplemental Indenture, dated as of January 21, 2015, by and between W. P. Carey Inc., as issuer, and U.S. Bank National Association, as trustee | Incorporated by reference to Exhibit 4.2 to Current Report on Form 8-K filed January 21, 2015 | |||||||||||||
4.6 | Form of Note representing €500 Million Aggregate Principal Amount of 2.000% Senior Notes due 2023 | Incorporated by reference to Exhibit 4.3 to Current Report on Form 8-K filed January 21, 2015 | |||||||||||||
4.7 | Third Supplemental Indenture, dated January 26, 2015, by and between W. P. Carey Inc., as issuer, and U.S. Bank National Association, as trustee | Incorporated by reference to Exhibit 4.2 to Current Report on Form 8-K filed January 26, 2015 | |||||||||||||
4.8 | Form of Note representing $450 Million Aggregate Principal Amount of 4.000% Senior Notes due 2025 | Incorporated by reference to Exhibit 4.3 to Current Report on Form 8-K filed January 26, 2015 | |||||||||||||
4.9 | Fourth Supplemental Indenture, dated as of September 12, 2016, by and between W. P. Carey Inc., as issuer, and U.S. Bank National Association, as trustee | Incorporated by reference to Exhibit 4.2 to Current Report on Form 8-K filed September 12, 2016 |
No. | |||||||||
Form of Note representing $350 Million Aggregate Principal Amount of 4.250% Senior Notes due 2026 | Incorporated by reference to Exhibit 4.3 to Current Report on Form 8-K filed September 12, 2016 |
W. P. Carey 2020 10-K– 141 |
Exhibit No. | Description | Method of Filing | ||||||||||||
4.11 | Indenture, dated as of November 8, 2016, by and among WPC Eurobond B.V., as issuer, W. P. Carey Inc., as guarantor, and U.S. Bank National Association, as trustee | Incorporated by reference to Exhibit 4.3 to Automatic shelf registration statement on Form S-3 (File No. 333-233159) filed August 9, 2019 | ||||||||||||
4.12 | First Supplemental Indenture, dated as of January 19, 2017, by and among WPC Eurobond B.V., as issuer, W. P. Carey Inc., as guarantor, and U.S. Bank National Association, as trustee. | Incorporated by reference to Exhibit 4.3 to Current Report on Form 8-K filed January 19, 2017 | ||||||||||||
4.13 | Form of Note representing €500 Million Aggregate Principal Amount of 2.250% Senior Notes due 2024 | Incorporated by reference to Exhibit 4.1 to Current Report on Form 8-K filed January 19, 2017 | ||||||||||||
4.14 | Second Supplemental Indenture dated as of March 6, 2018, by and among WPC Eurobond B.V., as issuer, W. P. Carey Inc., as guarantor, and U.S. Bank National Association, as trustee | Incorporated by reference to Exhibit 4.3 to Current Report on Form 8-K filed March 6, 2018 | ||||||||||||
4.15 | Form of Note representing €500 Million Aggregate Principal Amount of 2.125% Senior Notes due 2027 | Incorporated by reference to Exhibit 4.1 to Current Report on Form 8-K filed March 6, 2018 | ||||||||||||
4.16 | Third Supplemental Indenture dated as of October 9, 2018, by and among WPC Eurobond B.V., as issuer, W. P. Carey Inc., as guarantor, and U.S. Bank National Association, as trustee | Incorporated by reference to Exhibit 4.3 to Current Report on Form 8-K filed October 9, 2018 | ||||||||||||
4.17 | Form of Note representing €500 Million Aggregate Principal Amount of 2.250% Senior Notes due 2026 | Incorporated by reference to Exhibit 4.1 to Current Report on Form 8-K filed October 9, 2018 | ||||||||||||
4.18 | Fifth Supplemental Indenture, dated June 14, 2019, by and between W. P. Carey Inc., as issuer, and U.S. Bank National Association, as trustee | Incorporated by reference to Exhibit 4.1 to Current Report on Form 10-Q filed August 2, 2019 | ||||||||||||
4.19 | Form of Note representing $325 Million Aggregate Principal Amount of 3.850% Senior Notes due 2029 | Incorporated by reference to Exhibit 4.2 to Current Report on Form 10-Q filed August 2, 2019 | ||||||||||||
4.20 | Fourth Supplemental Indenture, dated as of September 19, 2019, by and among WPC Eurobond B.V., as issuer, W. P. Carey Inc., as guarantor, and U.S. Bank National Association, as trustee | Incorporated by reference to Exhibit 4.3 to Current Report on Form 8-K filed September 19, 2019 | ||||||||||||
4.21 | Form of Note representing €500 Million Aggregate Principal Amount of 1.350% Senior Notes due 2028 | Incorporated by reference to Exhibit 4.1 to Current Report on Form 8-K filed September 19, 2019 | ||||||||||||
4.22 | Description of Securities Registered under Section 12 of the Exchange Act | |||||||||||||
Sixth Supplemental Indenture, dated October 14, 2020, by and between W. P. Carey Inc., as issuer, and U.S. Bank National Association, as trustee | Incorporated by reference to Exhibit 4.2 to Current Report on Form 8-K filed October 14, 2020 | |||||||||||||
4.24 | Form of 2.400% Senior Notes due 2031 | Incorporated by reference to Exhibit 4.3 to Current Report on Form 8-K filed October 14, 2020 | ||||||||||||
10.1 | W. P. Carey Inc. 1997 Share Incentive Plan, as amended * | Incorporated by reference to Exhibit 10.2 to Annual Report on Form 10-K for the year ended December 31, 2014 filed March 2, 2015 |
W. P. Carey 2020 10-K– 142 |
Exhibit No. | Description | Method of Filing | ||||||||||||
10.2 | W. P. Carey Inc. (formerly W. P. Carey & Co. LLC) Long-Term Incentive Program as amended and restated effective as of September 28, 2012 * | Incorporated by reference to Exhibit 10.3 to Annual Report on Form 10-K for the year ended December 31, 2012 filed February 26, 2013 |
No. | ||||||||||||||
W. P. Carey Inc. Amended and Restated Deferred Compensation Plan for Employees * | Incorporated by reference to Exhibit 10.4 to Annual Report on Form 10-K for the year ended December 31, 2012 filed February 26, 2013 | |||||||||||||
10.4 | Amended and Restated W. P. Carey Inc. 2009 Share Incentive Plan * | Incorporated by reference to Appendix A of Schedule 14A filed April 30, 2013 | ||||||||||||
10.5 | 2017 Annual Incentive Compensation Plan | Incorporated by reference to Exhibit A of Schedule 14A filed April 11, 2017 | ||||||||||||
10.6 | 2017 Share Incentive Plan | Incorporated by reference to Exhibit B of Schedule 14A filed April 11, 2017 | ||||||||||||
10.7 | Form of Share Option Agreement under the 2017 Share Incentive Plan | Incorporated by reference to Exhibit 4.9 to Registration Statement on Form S-8 filed June 27, 2017 | ||||||||||||
10.8 | Form of Restricted Share Agreement under the 2017 Share Incentive Plan | Incorporated by reference to Exhibit 4.7 to Registration Statement on Form S-8 filed June 27, 2017 | ||||||||||||
10.9 | Form of Restricted Share Unit Agreement under the 2017 Share Incentive Plan | Incorporated by reference to Exhibit 4.8 to Registration Statement on Form S-8 filed June 27, 2017 | ||||||||||||
10.10 | Form of Long-Term Performance Share Unit Award Agreement pursuant to the W. P. Carey Inc. 2017 Share Incentive Plan | Incorporated by reference to Exhibit 4.6 to Registration Statement on Form S-8 filed June 27, 2017 | ||||||||||||
10.11 | Form of Non-Employee Director Restricted Share Agreement under the 2017 Share Incentive Plan | Incorporated by reference to Exhibit 4.5 to Registration Statement on Form S-8, filed June 27, 2017 | ||||||||||||
10.12 | W. P. Carey Inc. 2009 Non-Employee Directors’ Incentive Plan * | Incorporated by reference to Exhibit 10.2 to Quarterly Report on Form 10-Q for the quarter ended June 30, 2013 filed August 6, 2013 | ||||||||||||
10.13 | ||||||||||||||
Amended and Restated Advisory Agreement, dated as of January 1, 2015 by and among Corporate Property Associates 18 – Global Incorporated, CPA:18 Limited Partnership and Carey Asset Management Corp. | Incorporated by reference to Exhibit 10.15 to Annual Report on Form 10-K for the year ended December 31, 2014 filed March 2, 2015 | |||||||||||||
First Amendment to Amended and Restated Advisory Agreement, dated as of January 30, 2018, among Corporate Property Associates 18 – Global Incorporated, CPA: 18 Limited Partnership and Carey Asset Management Corp. | Incorporated by reference to Exhibit 10.21 to Annual Report on Form 10-K for the year ended December 31, 2017 filed February 23, 2018 | |||||||||||||
Amended and Restated Asset Management Agreement dated as of May 13, 2015, by and among, Corporate Property Associates 18 – Global Incorporated, CPA:18 Limited Partnership and W. P. Carey & Co. B.V. | Incorporated by reference to Exhibit 10.3 to Corporate Property Associates 18 – Global Incorporated’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2015 filed May 15, 2015 | |||||||||||||
W. P. Carey 2020 10-K– 143 |
Exhibit No. | Description | Method of Filing | |||||||||||||
Fourth Amended and Restated Credit Agreement, dated as of February 20, 2020, among W. P. Carey Inc. and Certain of its Subsidiaries identified therein as Guarantors, Bank of America, N.A., as Administrative Agent, Bank of America, N.A., JPMorgan Chase Bank, N.A. and Wells Fargo Bank, N.A., as L/C Issuers, Bank of America, N.A., as Swing Line Lender, and the Lenders party thereto | Incorporated by reference to Exhibit 10.1 to Current Report on Form 8-K filed February 20, 2020 | ||||||||||||||
Agency Agreement dated as of January 19, 2017, by and among WPC Eurobond B.V., as issuer, W. P. Carey Inc., as guarantor, Elavon Financial Services DAC, UK Branch, as paying agent and U.S. Bank National Association, as transfer agent, registrar and trustee | Incorporated by reference to Exhibit 10.1 to Current Report on Form 8-K filed January 19, 2017 | ||||||||||||||
Agency Agreement dated as of March 6, 2018, by and among WPC Eurobond B.V., as issuer, W. P. Carey Inc., as guarantor, Elavon Financial Services DAC, UK Branch, as paying agent and U.S. Bank National Association, as transfer agent, registrar and trustee | Incorporated by reference to Exhibit 10.1 to Current Report on Form 8-K filed March 6, 2018 | ||||||||||||||
Agency Agreement dated as of October 9, 2018, by and among WPC Eurobond B.V., as issuer, W. P. Carey Inc., as guarantor, Elavon Financial Services DAC, UK Branch, as paying agent and U.S. Bank National Association, as transfer agent, registrar and trustee | Incorporated by reference to Exhibit 10.1 to Current Report on Form 8-K filed October 9, 2018 | ||||||||||||||
Equity Sales Agreement, dated August 9, 2019, by and among W. P. Carey Inc. and each of Barclays Capital Inc., BMO Capital Markets Corp., BNY Mellon Capital Markets, LLC, BofA Securities, Inc., BTIG, LLC, Capital One Securities, Inc., Fifth Third Securities, Inc., Jefferies LLC, J.P. Morgan Securities LLC, Regions Securities LLC, Scotia Capital (USA) Inc., Stifel, Nicolaus & Company, Incorporated and Wells Fargo Securities, LLC, as agents, and each of Barclays Bank PLC, Bank of Montreal, The Bank of New York Mellon, Bank of America, N.A., Jefferies LLC, JPMorgan Chase Bank, National Association, The Bank of Nova Scotia and Wells Fargo Bank, National Association, as forward purchasers | Incorporated by reference to Exhibit 1.1 to Current Report on Form 8-K filed August 12, 2019 |
No. | ||||||||||||||
Agency Agreement dated as of September 19, 2019, by and among WPC Eurobond B.V., as issuer, W.P. Carey Inc., as guarantor, Elavon Financial Services DAC, as paying agent and U.S. Bank National Association, as transfer agent, registrar and trustee | Incorporated by reference to Exhibit 10.1 to Current Report on Form 8-K filed September 19, 2019 | |||||||||||||
Transition Services Agreement dated as of October 22, 2019, by and between W. P. Carey Inc. and Carey Watermark Investors 2 Incorporated | Incorporated by reference to Exhibit 10.2 to Current Report on Form 8-K filed October 22, 2019 | |||||||||||||
Forward Confirmation, dated June 17, 2020, by and among W. P. Carey Inc. and J.P. Morgan Chase Bank, National Association | Incorporated by reference to Exhibit 1.2 to Current Report on Form 8-K filed June 22, 2020 | |||||||||||||
10.24 | Forward Confirmation, dated June 17, 2020, by and among W. P. Carey Inc. and Bank of America, N.A. | Incorporated by reference to Exhibit 1.3 to Current Report on Form 8-K filed June 22, 2020 | ||||||||||||
10.25 | Forward Confirmation, dated June 18, 2020, by and among W. P. Carey Inc. and J.P. Morgan Chase Bank, National Association | Incorporated by reference to Exhibit 1.4 to Current Report on Form 8-K filed June 22, 2020 |
W. P. Carey 2020 10-K– 144 |
Exhibit No. | Description | Method of Filing | |||||||||||||
10.26 | Forward Confirmation, dated June 18, 2020, by and among W. P. Carey Inc. and Bank of America, N.A. | Incorporated by reference to Exhibit 1.5 to Current Report on Form 8-K filed June 22, 2020 | |||||||||||||
18.1 | Preferability letter of Independent Registered Public Accounting Firm | Incorporated by reference to Exhibit 18.1 to Quarterly Report on Form 10-Q for the quarter ended September 30, 2013 filed November 5, 2013 | |||||||||||||
21.1 | List of Registrant Subsidiaries | Filed herewith | |||||||||||||
23.1 | Consent of PricewaterhouseCoopers LLP | Filed herewith | |||||||||||||
31.1 | Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | Filed herewith | |||||||||||||
31.2 | Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | Filed herewith | |||||||||||||
32 | Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 | Filed herewith | |||||||||||||
99.1 | Director and Officer Indemnification Policy | Incorporated by reference to Exhibit 99.1 to Annual Report on Form 10-K for the year ended December 31, 2012 filed February 26, 2013 | |||||||||||||
101.INS | XBRL Instance Document – the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL Document. | Filed herewith | |||||||||||||
101.SCH | XBRL Taxonomy Extension Schema Document | Filed herewith | |||||||||||||
101.CAL | XBRL Taxonomy Extension Calculation Linkbase Document | Filed herewith | |||||||||||||
101.DEF | XBRL Taxonomy Extension Definition Linkbase Document | Filed herewith |
No. | |||||||||||||||
XBRL Taxonomy Extension Label Linkbase Document | Filed herewith | ||||||||||||||
101.PRE | XBRL Taxonomy Extension Presentation Linkbase Document | Filed herewith |
W. P. Carey |
W. P. Carey |
W. P. Carey Inc. | |||||||||||
Date: | February | By: | /s/ ToniAnn Sanzone | ||||||||
ToniAnn Sanzone | |||||||||||
Chief Financial Officer |
Signature | Title | Date | ||||||||||||
/s/ Jason E. Fox | Director and Chief Executive Officer | February 12, 2021 | ||||||||||||
Jason E. Fox | (Principal Executive Officer) | |||||||||||||
/s/ ToniAnn Sanzone | Chief Financial Officer | February 12, 2021 | ||||||||||||
ToniAnn Sanzone | (Principal Financial Officer) | |||||||||||||
/s/ Arjun Mahalingam | Chief Accounting Officer | February 12, 2021 | ||||||||||||
Arjun Mahalingam | (Principal Accounting Officer) | |||||||||||||
/s/ Christopher J. Niehaus | Chairman of the Board and Director | February 12, 2021 | ||||||||||||
Christopher J. Niehaus | ||||||||||||||
/s/ Mark A. Alexander | Director | February 12, 2021 | ||||||||||||
Mark A. Alexander | ||||||||||||||
Tonit M. Calaway | ||||||||||||||
/s/ Peter J. Farrell | Director | February | ||||||||||||
Peter J. Farrell | ||||||||||||||
/s/ Robert J. Flanagan | Director | February | ||||||||||||
Robert J. Flanagan | ||||||||||||||
/s/ Axel K. A. Hansing | Director | February | ||||||||||||
Axel K. A. Hansing | ||||||||||||||
/s/ Jean Hoysradt | Director | February | ||||||||||||
Jean Hoysradt | ||||||||||||||
/s/ Margaret G. Lewis | Director | February | ||||||||||||
Margaret G. Lewis | ||||||||||||||
/s/ Nicolaas J. M. van Ommen | Director | February | ||||||||||||
Nicolaas J. M. van Ommen |
W. P. Carey |
Exhibit No. | Description | Method of Filing | |||||||||||||
3.1 | Articles of Amendment and Restatement | ||||||||||||||
3.2 | Fifth Amended and Restated Bylaws of W. P. Carey Inc. | ||||||||||||||
4.1 | Form of Common Stock Certificate | ||||||||||||||
4.2 | Indenture, dated as of March 14, 2014, by and between W. P. Carey Inc., as issuer and U.S. Bank National Association, as trustee | ||||||||||||||
4.3 | First Supplemental Indenture, dated as of March 14, 2014, by and between W. P. Carey Inc., as issuer, and U.S. Bank National Association, as trustee | ||||||||||||||
4.4 | Form of Global Note Representing $500,000,000 Aggregate Principal Amount of 4.60% Senior Notes due 2024 | ||||||||||||||
4.5 | Second Supplemental Indenture, dated as of January 21, 2015, by and between W. P. Carey Inc., as issuer, and U.S. Bank National Association, as trustee | ||||||||||||||
4.6 | Form of Note representing €500 Million Aggregate Principal Amount of 2.000% Senior Notes due 2023 | ||||||||||||||
4.7 | Third Supplemental Indenture, dated January 26, 2015, by and between W. P. Carey Inc., as issuer, and U.S. Bank National Association, as trustee | ||||||||||||||
4.8 | Form of Note representing $450 Million Aggregate Principal Amount of 4.000% Senior Notes due 2025 | ||||||||||||||
4.9 | Fourth Supplemental Indenture, dated as of September 12, 2016, by and between W. P. Carey Inc., as issuer, and U.S. Bank National Association, as trustee | ||||||||||||||
4.10 | Form of Note representing $350 Million Aggregate Principal Amount of 4.250% Senior Notes due 2026 | ||||||||||||||
4.11 | Indenture, dated as of November 8, 2016, by and among WPC Eurobond B.V., as issuer, W. P. Carey Inc., as guarantor, and U.S. Bank National Association, as trustee |
Exhibit No. | Description | Method of Filing | |||||||||||||
4.12 | First Supplemental Indenture, dated as of January 19, 2017, by and among WPC Eurobond B.V., as issuer, W. P. Carey Inc., as guarantor, and U.S. Bank National Association, as trustee. | ||||||||||||||
4.13 | Form of Note representing €500 Million Aggregate Principal Amount of 2.250% Senior Notes due 2024 | ||||||||||||||
4.14 | Second Supplemental Indenture dated as of March 6, 2018, by and among WPC Eurobond B.V., as issuer, W. P. Carey Inc., as guarantor, and U.S. Bank National Association, as trustee | ||||||||||||||
4.15 | Form of Note representing €500 Million Aggregate Principal Amount of 2.125% Senior Notes due 2027 | ||||||||||||||
4.16 | Third Supplemental Indenture dated as of October 9, 2018, by and among WPC Eurobond B.V., as issuer, W. P. Carey Inc., as guarantor, and U.S. Bank National Association, as trustee | ||||||||||||||
4.17 | Form of Note representing €500 Million Aggregate Principal Amount of 2.250% Senior Notes due 2026 | ||||||||||||||
4.18 | Fifth Supplemental Indenture, dated June 14, 2019, by and between W. P. Carey Inc., as issuer, and U.S. Bank National Association, as trustee | ||||||||||||||
4.19 | Form of Note representing $325 Million Aggregate Principal Amount of 3.850% Senior Notes due 2029 | ||||||||||||||
4.20 | Fourth Supplemental Indenture, dated as of September 19, 2019, by and among WPC Eurobond B.V., as issuer, W. P. Carey Inc., as guarantor, and U.S. Bank National Association, as trustee | ||||||||||||||
4.21 | Form of Note representing €500 Million Aggregate Principal Amount of 1.350% Senior Notes due 2028 | ||||||||||||||
4.22 | Description of Securities Registered under Section 12 of the Exchange Act | ||||||||||||||
Sixth Supplemental Indenture, dated October 14, 2020, by and between W. P. Carey Inc., as issuer, and U.S. Bank National Association, as trustee | |||||||||||||||
4.24 | Form of 2.400% Senior Notes due 2031 | ||||||||||||||
10.1 | W. P. Carey Inc. 1997 Share Incentive Plan, as amended * | ||||||||||||||
10.2 | W. P. Carey Inc. (formerly W. P. Carey & Co. LLC) Long-Term Incentive Program as amended and restated effective as of September 28, 2012 * |
No. | Description | Method of Filing | ||||||||||||
10.3 | W. P. Carey Inc. Amended and Restated Deferred Compensation Plan for Employees * | |||||||||||||
10.4 | Amended and Restated W. P. Carey Inc. 2009 Share Incentive Plan * |
10.5 | ||||||||||||||
No. | ||||||||||||||
2017 Annual Incentive Compensation Plan | ||||||||||||||
10.6 | 2017 Share Incentive Plan | |||||||||||||
10.7 | Form of Share Option Agreement under the 2017 Share Incentive Plan | |||||||||||||
10.8 | Form of Restricted Share Agreement under the 2017 Share Incentive Plan | |||||||||||||
10.9 | Form of Restricted Share Unit Agreement under the 2017 Share Incentive Plan | |||||||||||||
10.10 | Form of Long-Term Performance Share Unit Award Agreement pursuant to the W. P. Carey Inc. 2017 Share Incentive Plan | |||||||||||||
10.11 | Form of Non-Employee Director Restricted Share Agreement under the 2017 Share Incentive Plan | |||||||||||||
10.12 | W. P. Carey Inc. 2009 Non-Employee Directors’ Incentive Plan * | |||||||||||||
10.13 | ||||||||||||||
Amended and Restated Advisory Agreement, dated as of January 1, 2015 by and among Corporate Property Associates 18 – Global Incorporated, CPA:18 Limited Partnership and Carey Asset Management Corp. | ||||||||||||||
First Amendment to Amended and Restated Advisory Agreement, dated as of January 30, 2018, among Corporate Property Associates 18 – Global Incorporated, CPA: 18 Limited Partnership and Carey Asset Management Corp. | ||||||||||||||
Amended and Restated Asset Management Agreement dated as of May 13, 2015, by and among, Corporate Property Associates 18 – Global Incorporated, CPA:18 Limited Partnership and W. P. Carey & Co. B.V. | ||||||||||||||
No. | |||||||||
Fourth Amended and Restated Credit Agreement, dated as of February 20, 2020, among W. P. Carey Inc. and Certain of its Subsidiaries identified therein as Guarantors, Bank of America, N.A., as Administrative Agent, Bank of America, N.A., JPMorgan Chase Bank, N.A. and Wells Fargo Bank, N.A., as L/C Issuers, Bank of America, N.A., as Swing Line Lender, and the Lenders party thereto |
No. | Description | Method of Filing | ||||||||||||
10.17 | Agency Agreement dated as of January 19, 2017, by and among WPC Eurobond B.V., as issuer, W. P. Carey Inc., as guarantor, Elavon Financial Services DAC, UK Branch, as paying agent and U.S. Bank National Association, as transfer agent, registrar and trustee | |||||||||||||
Agency Agreement dated as of March 6, 2018, by and among WPC Eurobond B.V., as issuer, W. P. Carey Inc., as guarantor, Elavon Financial Services DAC, UK Branch, as paying agent and U.S. Bank National Association, as transfer agent, registrar and trustee | ||||||||||||||
Agency Agreement dated as of October 9, 2018, by and among WPC Eurobond B.V., as issuer, W. P. Carey Inc., as guarantor, Elavon Financial Services DAC, UK Branch, as paying agent and U.S. Bank National Association, as transfer agent, registrar and trustee | ||||||||||||||
Equity Sales Agreement, dated August 9, 2019, by and among W. P. Carey Inc. and each of Barclays Capital Inc., BMO Capital Markets Corp., BNY Mellon Capital Markets, LLC, BofA Securities, Inc., BTIG, LLC, Capital One Securities, Inc., Fifth Third Securities, Inc., Jefferies LLC, J.P. Morgan Securities LLC, Regions Securities LLC, Scotia Capital (USA) Inc., Stifel, Nicolaus & Company, Incorporated and Wells Fargo Securities, LLC, as agents, and each of Barclays Bank PLC, Bank of Montreal, The Bank of New York Mellon, Bank of America, N.A., Jefferies LLC, JPMorgan Chase Bank, National Association, The Bank of Nova Scotia and Wells Fargo Bank, National Association, as forward purchasers | ||||||||||||||
Agency Agreement dated as of September 19, 2019, by and among WPC Eurobond B.V., as issuer, W.P. Carey Inc., as guarantor, Elavon Financial Services DAC, as paying agent and U.S. Bank National Association, as transfer agent, registrar and trustee | ||||||||||||||
No. | ||||||||||||||
Transition Services Agreement dated as of October 22, 2019, by and between W. P. Carey Inc. and Carey Watermark Investors 2 Incorporated | ||||||||||||||
Forward Confirmation, dated June 17, 2020, by and among W. P. Carey Inc. and J.P. Morgan Chase Bank, National Association | ||||||||||||||
10.24 | Forward Confirmation, dated June 17, 2020, by and among W. P. Carey Inc. and Bank of America, N.A. | |||||||||||||
10.25 | Forward Confirmation, dated June 18, 2020, by and among W. P. Carey Inc. and J.P. Morgan Chase Bank, National Association | |||||||||||||
10.26 | Forward Confirmation, dated June 18, 2020, by and among W. P. Carey Inc. and Bank of America, N.A. | |||||||||||||
18.1 | Preferability letter of Independent Registered Public Accounting Firm |
No. | Description | Method of Filing | |||||||||||||
21.1 | List of Registrant Subsidiaries | ||||||||||||||
23.1 | Consent of PricewaterhouseCoopers LLP | ||||||||||||||
31.1 | Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | ||||||||||||||
31.2 | Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | ||||||||||||||
32 | Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 | ||||||||||||||
99.1 | Director and Officer Indemnification Policy | ||||||||||||||
101.INS | XBRL Instance Document – the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL Document. | Filed herewith | |||||||||||||
101.SCH | XBRL Taxonomy Extension Schema Document | Filed herewith | |||||||||||||
101.CAL | XBRL Taxonomy Extension Calculation Linkbase Document | Filed herewith | |||||||||||||
101.DEF | XBRL Taxonomy Extension Definition Linkbase Document | Filed herewith | |||||||||||||
101.LAB | XBRL Taxonomy Extension Label Linkbase Document | Filed herewith | |||||||||||||
101.PRE | XBRL Taxonomy Extension Presentation Linkbase Document | Filed herewith |