☐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 2022 10-K– 3 |
W. P. Carey 2022 10-K– 4 |
W. P. Carey 2022 10-K– 5 |
◦CPI and similar — 55.5% ◦Fixed — 40.0% ◦Other — 3.5% Human Capital Investing in Our Employees At December 31, 2022, we had 193 employees, 141 of which were located in the United States and 52 of which were located in Europe. We strive to make W. P. Carey a great place to work by attracting a diverse pool of the best and brightest applicants and making them feel supported as they grow with the company. We offer various levels of training, including “Respect in the Workplace,” skills training, Diversity, Equity & Inclusion, and executive coaching, as well as additional training including safety and cybersecurity. By engaging with our employees and investing in their careers through training and development, we have built a talented workforce capable of executing our business strategies. Diversity We believe that our success is dependent upon the diverse backgrounds and perspectives of our employees and directors. W. P. Carey is an equal opportunity employer and considers qualified applicants regardless of race, color, religion, sexual orientation, gender, gender identity or expression, national origin, age, disability, military or veteran status, genetic information, or other statuses protected by applicable federal, state, and local law. Our diversity, equity and inclusion initiative is designed to facilitate conversations around race, sexual orientation and gender identity, national origin, creeds, and other important topics. These conversations, led by our Diversity, Equity & Inclusion Advisory Committee, provide a forum for us to translate our positions as a company into action in both our internal and external communities. We are also signatory to the CEO Action Pledge for Diversity & Inclusion, which reflects our commitment to fostering a more diverse and inclusive workforce. Employee Wellness and Benefits The health and wellness of our employees and their families are paramount and our comprehensive benefits package is designed to address the evolving needs of our diverse workforce and their dependents. Our benefits package is evaluated on an annual basis. In addition to robust health and wellness benefits, we also provide our employees with competitive compensation programs, with a focus on both current compensation and retirement planning for their future. Additional information regarding our human capital programs and initiatives is available in our annual Proxy Statement and Environmental, Social, and Governance (“ESG”) Report, which can be found on our company website. Information on our website, including our ESG Report, is not incorporated by reference into this Report. |
W. P. Carey 2022 10-K– 6 |
W. P. Carey 2022 10-K– 7 |
W. P. Carey 2022 10-K– 8 |
W. P. Carey |
W. P. Carey 2022 10-K– 10 |
W. P. Carey 2022 10-K– 11 |
W. P. Carey 2022 10-K– 12 |
W. P. Carey 2022 10-K– 13 |
W. P. Carey 2022 10-K– 14 |
W. P. Carey 2022 10-K– 15 |
W. P. Carey 2022 10-K– 16 |
W. P. Carey 2022 10-K– 17 |
W. P. Carey |
W. P. Carey 2022 10-K– 19 |
W. P. Carey |
W. P. Carey |
At December 31, | At December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | |||||||||||||||||||||||||||||||||||||||||||||||
W. P. Carey Inc. | $ | 100.00 | $ | 89.60 | $ | 95.46 | $ | 118.20 | $ | 119.38 | $ | 153.77 | W. P. Carey Inc. | $ | 100.00 | $ | 101.08 | $ | 130.23 | $ | 122.44 | $ | 150.45 | $ | 151.16 | |||||||||||||||||||||||||||||||||
S&P 500 Index | 100.00 | 101.38 | 113.51 | 138.29 | 132.23 | 173.86 | S&P 500 Index | 100.00 | 95.62 | 125.72 | 148.85 | 191.58 | 156.88 | |||||||||||||||||||||||||||||||||||||||||||||
FTSE NAREIT Equity REITs Index | 100.00 | 103.20 | 111.99 | 117.84 | 112.39 | 141.61 | FTSE NAREIT Equity REITs Index | 100.00 | 95.38 | 120.17 | 110.56 | 158.36 | 119.77 | |||||||||||||||||||||||||||||||||||||||||||||
MSCI US REIT Index | MSCI US REIT Index | 100.00 | 95.43 | 120.09 | 110.99 | 158.79 | 119.87 |
W. P. Carey 2022 10-K– 22 |
Years Ended December 31, | |||||||||||||||||||
2019 | 2018 | 2017 | 2016 | 2015 | |||||||||||||||
Operating Data | |||||||||||||||||||
Revenues (a) | $ | 1,232,766 | $ | 885,732 | $ | 848,302 | $ | 941,533 | $ | 938,383 | |||||||||
Net income (a) (b) (c) (d) | 306,544 | 424,341 | 285,083 | 274,807 | 185,227 | ||||||||||||||
Net income attributable to noncontrolling interests (a) | (1,301 | ) | (12,775 | ) | (7,794 | ) | (7,060 | ) | (12,969 | ) | |||||||||
Net income attributable to W. P. Carey (a) (b) (c) (d) | 305,243 | 411,566 | 277,289 | 267,747 | 172,258 | ||||||||||||||
Basic earnings per share | 1.78 | 3.50 | 2.56 | 2.50 | 1.62 | ||||||||||||||
Diluted earnings per share | 1.78 | 3.49 | 2.56 | 2.49 | 1.61 | ||||||||||||||
Cash dividends declared per share | 4.1400 | 4.0900 | 4.0100 | 3.9292 | 3.8261 | ||||||||||||||
Balance Sheet Data | |||||||||||||||||||
Total assets | $ | 14,060,918 | $ | 14,183,039 | $ | 8,231,402 | $ | 8,453,954 | $ | 8,742,089 | |||||||||
Net investments in real estate | 11,916,745 | 11,928,854 | 6,703,715 | 6,781,900 | 7,229,873 | ||||||||||||||
Senior Unsecured Notes, net | 4,390,189 | 3,554,470 | 2,474,661 | 1,807,200 | 1,476,084 | ||||||||||||||
Senior credit facilities | 201,267 | 91,563 | 605,129 | 926,693 | 734,704 | ||||||||||||||
Non-recourse mortgages, net | 1,462,487 | 2,732,658 | 1,185,477 | 1,706,921 | 2,269,421 |
• |
W. P. Carey |
W. P. Carey |
Years Ended December 31, | Years Ended December 31, | |||||||||||||||||||||
2019 | 2018 | 2017 | 2022 | 2021 | ||||||||||||||||||
Revenues from Real Estate | $ | 1,172,863 | $ | 779,125 | $ | 687,208 | Revenues from Real Estate | $ | 1,468,101 | $ | 1,312,126 | |||||||||||
Revenues from Investment Management | 59,903 | 106,607 | 161,094 | Revenues from Investment Management | 10,985 | 19,398 | ||||||||||||||||
Total revenues | 1,232,766 | 885,732 | 848,302 | Total revenues | 1,479,086 | 1,331,524 | ||||||||||||||||
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 | 591,603 | 384,766 | ||||||||||||||||
Net income from Investment Management attributable to W. P. Carey | 33,178 | 104,330 | 85,150 | Net income from Investment Management attributable to W. P. Carey | 7,536 | 25,222 | ||||||||||||||||
Net income attributable to W. P. Carey | 305,243 | 411,566 | 277,289 | Net income attributable to W. P. Carey | 599,139 | 409,988 | ||||||||||||||||
Dividends declared | 713,588 | 502,819 | 433,834 | Dividends declared | 859,655 | 781,626 | ||||||||||||||||
Net cash provided by operating activities | 812,077 | 509,166 | 520,659 | Net cash provided by operating activities | 1,003,556 | 926,479 | ||||||||||||||||
Net cash (used in) provided by investing activities | (522,773 | ) | (266,132 | ) | 214,238 | |||||||||||||||||
Net cash used in financing activities | (457,778 | ) | (24,292 | ) | (745,466 | ) | ||||||||||||||||
Net cash used in investing activities | Net cash used in investing activities | (1,052,531) | (1,566,727) | |||||||||||||||||||
Net cash provided by financing activities | Net cash provided by financing activities | 57,887 | 557,048 | |||||||||||||||||||
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 | 1,042,782 | 896,139 | ||||||||||||||||
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 | 17,816 | 25,352 | ||||||||||||||||
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) | 1,060,598 | 921,491 | ||||||||||||||||
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 | 200,427,124 | 183,127,098 |
(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 2022 10-K– 25 |
As of December 31, | |||||||||||
Net-leased Properties | 2022 | 2021 | |||||||||
ABR (in thousands) | $ | 1,381,899 | $ | 1,247,764 | |||||||
Number of net-leased properties (a) | 1,449 | 1,304 | |||||||||
Number of tenants | 392 | 352 | |||||||||
Total square footage (in thousands) | 175,957 | 155,674 | |||||||||
Occupancy | 98.8 | % | 98.5 | % | |||||||
Weighted-average lease term (in years) | 10.8 | 10.8 | |||||||||
Operating Properties | |||||||||||
Number of operating properties: (b) | 87 | 20 | |||||||||
Number of self-storage operating properties | 84 | 19 | |||||||||
Number of student housing operating properties | 2 | — | |||||||||
Number of hotel operating properties | 1 | 1 | |||||||||
Occupancy (self-storage operating properties) | 91.0 | % | 95.3 | % | |||||||
Number of countries (c) | 26 | 24 | |||||||||
Total assets (in thousands) | $ | 18,102,035 | $ | 15,480,630 | |||||||
Net investments in real estate (in thousands) | 15,488,898 | 13,037,369 |
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, | |||||||||||
2022 | 2021 | ||||||||||
Acquisition volume (in millions) (d) | $ | 1,265.5 | $ | 1,627.9 | |||||||
Construction projects completed (in millions) | 148.1 | 88.2 | |||||||||
Average U.S. dollar/euro exchange rate | 1.0540 | 1.1830 | |||||||||
Average U.S. dollar/British pound sterling exchange rate | 1.2373 | 1.3755 |
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 | 2.8 | % | 1.3 | ||||||||||||||||||||||||||||||||
Hellweg Die Profi-Baumärkte GmbH & Co. KG (a) | Do-it-yourself retail properties in Germany | 42 | 33,338 | 3.0 | % | 17.2 | |||||||||||||||||||||||||||||||||||||||||
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 | 29,271 | 2.1 | % | 12.0 | ||||||||||||||||||||||||||||||||||
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 | 27,512 | 2.0 | % | 5.8 | ||||||||||||||||||||||||||||||||||
Pendragon PLC (a) | Automotive dealerships in the United Kingdom | 69 | 22,449 | 2.0 | % | 10.4 | |||||||||||||||||||||||||||||||||||||||||
Hellweg Die Profi-Baumärkte GmbH & Co. KG (a) | Hellweg Die Profi-Baumärkte GmbH & Co. KG (a) | Do-it-yourself retail properties in Germany | 35 | 27,250 | 2.0 | % | 14.2 | ||||||||||||||||||||||||||||||||||||||||
Extra Space Storage, Inc. | Extra Space Storage, Inc. | Net lease self-storage properties in the U.S. | 27 | 22,957 | 1.7 | % | 21.3 | ||||||||||||||||||||||||||||||||||||||||
OBI Group (a) | OBI Group (a) | Do-it-yourself retail properties in Poland | 26 | 22,266 | 1.6 | % | 7.8 | ||||||||||||||||||||||||||||||||||||||||
Marriott Corporation | Net lease hotel properties in the U.S. | 18 | 20,065 | 1.8 | % | 3.9 | Net lease hotel properties in the U.S. | 18 | 21,350 | 1.6 | % | 1.0 | |||||||||||||||||||||||||||||||||||
Extra Space Storage, Inc. | Net lease self-storage properties in the U.S. | 27 | 19,519 | 1.7 | % | 24.3 | |||||||||||||||||||||||||||||||||||||||||
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 | 20,981 | 1.5 | % | 20.7 | ||||||||||||||||||||||||||||||||||
Forterra, Inc. (a) (b) | Industrial properties in the U.S. and Canada | 27 | 18,394 | 1.7 | % | 23.5 | |||||||||||||||||||||||||||||||||||||||||
Advance Auto Parts, Inc. | Distribution facilities in the U.S. | 30 | 18,345 | 1.6 | % | 13.1 | Advance Auto Parts, Inc. | Distribution facilities in the U.S. | 29 | 19,851 | 1.4 | % | 10.1 | ||||||||||||||||||||||||||||||||||
Eroski Sociedad Cooperativa (a) | Eroski Sociedad Cooperativa (a) | Grocery stores and warehouses in Spain | 63 | 19,705 | 1.4 | % | 13.2 | ||||||||||||||||||||||||||||||||||||||||
Total | 384 | $ | 245,107 | 21.9 | % | 13.3 | Total | 369 | $ | 249,894 | 18.1 | % | 10.1 |
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 | $ | 115,176 | 8.3 | % | 12,609 | 7.2 | % | |||||||||||||||||||
Florida | 54,064 | 3.9 | % | 4,544 | 2.6 | % | ||||||||||||||||||||
Georgia | 28,411 | 2.1 | % | 4,721 | 2.7 | % | ||||||||||||||||||||
Tennessee | 25,545 | 1.8 | % | 4,136 | 2.3 | % | ||||||||||||||||||||
Alabama | 20,072 | 1.5 | % | 3,334 | 1.9 | % | ||||||||||||||||||||
Other (b) | 14,529 | 1.1 | % | 2,237 | 1.3 | % | ||||||||||||||||||||
Total South | 257,797 | 18.7 | % | 31,581 | 18.0 | % | ||||||||||||||||||||
Midwest | ||||||||||||||||||||||||||
Illinois | 75,252 | 5.5 | % | 10,864 | 6.2 | % | ||||||||||||||||||||
Minnesota | 34,977 | 2.5 | % | 3,686 | 2.1 | % | ||||||||||||||||||||
Indiana | 29,312 | 2.1 | % | 5,222 | 3.0 | % | ||||||||||||||||||||
Michigan | 28,311 | 2.1 | % | 4,705 | 2.7 | % | ||||||||||||||||||||
Ohio | 28,303 | 2.0 | % | 6,181 | 3.5 | % | ||||||||||||||||||||
Wisconsin | 18,126 | 1.3 | % | 3,276 | 1.8 | % | ||||||||||||||||||||
Other (b) | 42,430 | 3.1 | % | 6,230 | 3.5 | % | ||||||||||||||||||||
Total Midwest | 256,711 | 18.6 | % | 40,164 | 22.8 | % | ||||||||||||||||||||
East | ||||||||||||||||||||||||||
North Carolina | 38,333 | 2.8 | % | 8,302 | 4.7 | % | ||||||||||||||||||||
Pennsylvania | 32,169 | 2.3 | % | 3,527 | 2.0 | % | ||||||||||||||||||||
New York | 19,373 | 1.4 | % | 2,257 | 1.3 | % | ||||||||||||||||||||
Kentucky | 18,638 | 1.4 | % | 3,063 | 1.7 | % | ||||||||||||||||||||
South Carolina | 18,556 | 1.3 | % | 4,949 | 2.8 | % | ||||||||||||||||||||
Massachusetts | 18,209 | 1.3 | % | 1,387 | 0.8 | % | ||||||||||||||||||||
New Jersey | 15,735 | 1.1 | % | 943 | 0.5 | % | ||||||||||||||||||||
Virginia | 14,652 | 1.1 | % | 1,854 | 1.1 | % | ||||||||||||||||||||
Other (b) | 25,029 | 1.8 | % | 3,884 | 2.2 | % | ||||||||||||||||||||
Total East | 200,694 | 14.5 | % | 30,166 | 17.1 | % | ||||||||||||||||||||
West | ||||||||||||||||||||||||||
California | 64,977 | 4.7 | % | 6,417 | 3.6 | % | ||||||||||||||||||||
Arizona | 30,417 | 2.2 | % | 3,437 | 2.0 | % | ||||||||||||||||||||
Other (b) | 64,897 | 4.7 | % | 6,994 | 4.0 | % | ||||||||||||||||||||
Total West | 160,291 | 11.6 | % | 16,848 | 9.6 | % | ||||||||||||||||||||
United States Total | 875,493 | 63.4 | % | 118,759 | 67.5 | % | ||||||||||||||||||||
International | ||||||||||||||||||||||||||
Germany | 71,304 | 5.2 | % | 7,020 | 4.0 | % | ||||||||||||||||||||
Spain | 63,779 | 4.6 | % | 5,187 | 3.0 | % | ||||||||||||||||||||
Poland | 63,552 | 4.6 | % | 8,631 | 4.9 | % | ||||||||||||||||||||
The Netherlands | 55,666 | 4.0 | % | 7,054 | 4.0 | % | ||||||||||||||||||||
United Kingdom | 51,977 | 3.8 | % | 4,766 | 2.7 | % | ||||||||||||||||||||
Italy | 26,884 | 1.9 | % | 2,541 | 1.4 | % | ||||||||||||||||||||
Denmark | 23,526 | 1.7 | % | 3,039 | 1.7 | % | ||||||||||||||||||||
France | 19,920 | 1.4 | % | 1,679 | 1.0 | % | ||||||||||||||||||||
Croatia | 19,475 | 1.4 | % | 2,063 | 1.2 | % | ||||||||||||||||||||
Canada | 16,337 | 1.2 | % | 2,492 | 1.4 | % | ||||||||||||||||||||
Norway | 15,533 | 1.1 | % | 753 | 0.4 | % | ||||||||||||||||||||
Other (c) | 78,453 | 5.7 | % | 11,973 | 6.8 | % | ||||||||||||||||||||
International Total | 506,406 | 36.6 | % | 57,198 | 32.5 | % | ||||||||||||||||||||
Total | $ | 1,381,899 | 100.0 | % | 175,957 | 100.0 | % |
W. P. Carey |
Property Type | ABR | ABR Percent | Square Footage (a) | Square Footage Percent | ||||||||||||||||||||||
Industrial | $ | 366,777 | 26.5 | % | 62,521 | 35.6 | % | |||||||||||||||||||
Warehouse | 333,713 | 24.1 | % | 63,192 | 35.9 | % | ||||||||||||||||||||
Office | 239,941 | 17.4 | % | 16,703 | 9.5 | % | ||||||||||||||||||||
Retail (d) | 231,839 | 16.8 | % | 20,290 | 11.5 | % | ||||||||||||||||||||
Self Storage (net lease) | 61,708 | 4.5 | % | 5,810 | 3.3 | % | ||||||||||||||||||||
Other (e) | 147,921 | 10.7 | % | 7,441 | 4.2 | % | ||||||||||||||||||||
Total | $ | 1,381,899 | 100.0 | % | 175,957 | 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) | $ | 283,868 | 20.5 | % | 36,457 | 20.7 | % | ||||||||||||||||||||||||
Consumer Services | 113,588 | 10.1 | % | 8,429 | 6.0 | % | Consumer Services | 110,969 | 8.0 | % | 8,067 | 4.6 | % | ||||||||||||||||||||||||||
Beverage and Food | Beverage and Food | 105,906 | 7.7 | % | 15,759 | 9.0 | % | ||||||||||||||||||||||||||||||||
Automotive | 72,679 | 6.5 | % | 12,166 | 8.7 | % | Automotive | 85,966 | 6.2 | % | 13,477 | 7.7 | % | ||||||||||||||||||||||||||
Grocery | Grocery | 79,516 | 5.8 | % | 8,363 | 4.8 | % | ||||||||||||||||||||||||||||||||
Cargo Transportation | 60,211 | 5.4 | % | 9,345 | 6.7 | % | Cargo Transportation | 63,473 | 4.6 | % | 9,550 | 5.4 | % | ||||||||||||||||||||||||||
Hotel and Leisure | Hotel and Leisure | 57,132 | 4.1 | % | 3,060 | 1.7 | % | ||||||||||||||||||||||||||||||||
Healthcare and Pharmaceuticals | Healthcare and Pharmaceuticals | 55,806 | 4.0 | % | 5,557 | 3.2 | % | ||||||||||||||||||||||||||||||||
Capital Equipment | Capital Equipment | 55,593 | 4.0 | % | 8,459 | 4.8 | % | ||||||||||||||||||||||||||||||||
Business Services | 60,073 | 5.4 | % | 5,272 | 3.8 | % | Business Services | 48,375 | 3.5 | % | 4,113 | 2.3 | % | ||||||||||||||||||||||||||
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 | % | |||||||||||||||||||||||||||||||||
Containers, Packaging, and Glass | Containers, Packaging, and Glass | 46,942 | 3.4 | % | 8,266 | 4.7 | % | ||||||||||||||||||||||||||||||||
Durable Consumer Goods | Durable Consumer Goods | 46,761 | 3.4 | % | 10,300 | 5.9 | % | ||||||||||||||||||||||||||||||||
Construction and Building | 42,290 | 3.8 | % | 7,673 | 5.5 | % | Construction and Building | 46,583 | 3.4 | % | 9,235 | 5.2 | % | ||||||||||||||||||||||||||
Capital Equipment | 39,686 | 3.5 | % | 6,550 | 4.7 | % | |||||||||||||||||||||||||||||||||
Sovereign and Public Finance | 39,259 | 3.5 | % | 3,364 | 2.4 | % | Sovereign and Public Finance | 42,578 | 3.1 | % | 3,560 | 2.0 | % | ||||||||||||||||||||||||||
Beverage, Food, and Tobacco | 37,825 | 3.4 | % | 4,862 | 3.5 | % | |||||||||||||||||||||||||||||||||
Containers, Packaging, and Glass | 35,718 | 3.2 | % | 6,186 | 4.4 | % | |||||||||||||||||||||||||||||||||
High Tech Industries | 30,444 | 2.7 | % | 3,384 | 2.4 | % | High Tech Industries | 36,027 | 2.6 | % | 3,574 | 2.0 | % | ||||||||||||||||||||||||||
Durable Consumer Goods | 30,214 | 2.7 | % | 6,870 | 4.9 | % | |||||||||||||||||||||||||||||||||
Insurance | 24,875 | 2.2 | % | 1,759 | 1.3 | % | Insurance | 30,862 | 2.2 | % | 2,024 | 1.1 | % | ||||||||||||||||||||||||||
Chemicals, Plastics, and Rubber | Chemicals, Plastics, and Rubber | 29,935 | 2.2 | % | 5,254 | 3.0 | % | ||||||||||||||||||||||||||||||||
Non-Durable Consumer Goods | Non-Durable Consumer Goods | 26,374 | 1.9 | % | 6,244 | 3.5 | % | ||||||||||||||||||||||||||||||||
Banking | 19,239 | 1.7 | % | 1,247 | 0.9 | % | Banking | 23,894 | 1.7 | % | 1,426 | 0.8 | % | ||||||||||||||||||||||||||
Metals | Metals | 18,673 | 1.4 | % | 3,259 | 1.9 | % | ||||||||||||||||||||||||||||||||
Telecommunications | 18,803 | 1.7 | % | 1,732 | 1.2 | % | Telecommunications | 16,839 | 1.2 | % | 1,686 | 1.0 | % | ||||||||||||||||||||||||||
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 | % | |||||||||||||||||||||||||||||||||
Media: Broadcasting and Subscription | 12,787 | 1.1 | % | 784 | 0.6 | % | |||||||||||||||||||||||||||||||||
Wholesale | 12,206 | 1.1 | % | 2,005 | 1.4 | % | |||||||||||||||||||||||||||||||||
Chemicals, Plastics, and Rubber | 12,037 | 1.1 | % | 1,403 | 1.0 | % | |||||||||||||||||||||||||||||||||
Other (b) | 28,580 | 2.6 | % | 4,797 | 3.4 | % | Other (b) | 69,827 | 5.1 | % | 8,267 | 4.7 | % | ||||||||||||||||||||||||||
Total | $ | 1,118,519 | 100.0 | % | 139,982 | 100.0 | % | Total | $ | 1,381,899 | 100.0 | % | 175,957 | 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 | % | |||||||||||||||||||||||||||||||||||||||||||||||||
2022 | 41 | 32 | 58,261 | 5.2 | % | 5,377 | 3.8 | % | |||||||||||||||||||||||||||||||||||||||||||||||||
2023 | 31 | 28 | 46,954 | 4.2 | % | 5,919 | 4.2 | % | |||||||||||||||||||||||||||||||||||||||||||||||||
2024 | 76 | 49 | 111,646 | 10.0 | % | 13,961 | 10.0 | % | |||||||||||||||||||||||||||||||||||||||||||||||||
2023 (b) | 2023 (b) | 36 | 30 | $ | 54,228 | 3.9 | % | 5,500 | 3.1 | % | |||||||||||||||||||||||||||||||||||||||||||||||
2024 (c) | 2024 (c) | 41 | 35 | 90,330 | 6.6 | % | 11,230 | 6.4 | % | ||||||||||||||||||||||||||||||||||||||||||||||||
2025 | 61 | 30 | 58,023 | 5.2 | % | 7,194 | 5.1 | % | 2025 | 53 | 32 | 61,241 | 4.4 | % | 7,068 | 4.0 | % | ||||||||||||||||||||||||||||||||||||||||
2026 | 32 | 20 | 49,824 | 4.5 | % | 7,354 | 5.2 | % | 2026 | 46 | 36 | 64,074 | 4.7 | % | 9,081 | 5.1 | % | ||||||||||||||||||||||||||||||||||||||||
2027 | 45 | 27 | 71,604 | 6.4 | % | 8,237 | 5.9 | % | 2027 | 57 | 33 | 82,953 | 6.0 | % | 8,906 | 5.1 | % | ||||||||||||||||||||||||||||||||||||||||
2028 | 43 | 25 | 61,774 | 5.5 | % | 4,867 | 3.5 | % | 2028 | 46 | 28 | 69,298 | 5.0 | % | 5,589 | 3.2 | % | ||||||||||||||||||||||||||||||||||||||||
2029 | 31 | 18 | 36,289 | 3.2 | % | 4,561 | 3.3 | % | 2029 | 57 | 29 | 68,802 | 5.0 | % | 8,337 | 4.7 | % | ||||||||||||||||||||||||||||||||||||||||
2030 | 28 | 22 | 73,580 | 6.6 | % | 6,638 | 4.7 | % | 2030 | 34 | 29 | 73,128 | 5.3 | % | 6,165 | 3.5 | % | ||||||||||||||||||||||||||||||||||||||||
2031 | 66 | 16 | 68,973 | 6.2 | % | 8,155 | 5.8 | % | 2031 | 37 | 21 | 70,249 | 5.1 | % | 8,749 | 5.0 | % | ||||||||||||||||||||||||||||||||||||||||
2032 | 35 | 14 | 43,105 | 3.9 | % | 5,914 | 4.2 | % | 2032 | 41 | 22 | 44,204 | 3.2 | % | 6,200 | 3.5 | % | ||||||||||||||||||||||||||||||||||||||||
2033 | 19 | 13 | 48,275 | 4.3 | % | 6,672 | 4.8 | % | 2033 | 31 | 24 | 81,864 | 5.9 | % | 11,377 | 6.5 | % | ||||||||||||||||||||||||||||||||||||||||
Thereafter (>2033) | 172 | 84 | 336,950 | 30.1 | % | 47,554 | 34.0 | % | |||||||||||||||||||||||||||||||||||||||||||||||||
2034 | 2034 | 49 | 18 | 83,347 | 6.0 | % | 8,638 | 4.9 | % | ||||||||||||||||||||||||||||||||||||||||||||||||
2035 | 2035 | 14 | 14 | 29,388 | 2.1 | % | 4,957 | 2.8 | % | ||||||||||||||||||||||||||||||||||||||||||||||||
2036 | 2036 | 49 | 19 | 84,795 | 6.1 | % | 13,524 | 7.7 | % | ||||||||||||||||||||||||||||||||||||||||||||||||
Thereafter (>2036) | Thereafter (>2036) | 261 | 107 | 423,998 | 30.7 | % | 58,555 | 33.3 | % | ||||||||||||||||||||||||||||||||||||||||||||||||
Vacant | — | — | — | — | % | 1,630 | 1.2 | % | Vacant | — | — | — | — | % | 2,081 | 1.2 | % | ||||||||||||||||||||||||||||||||||||||||
Total | 782 | $ | 1,118,519 | 100.0 | % | 139,982 | 100.0 | % | Total | 852 | $ | 1,381,899 | 100.0 | % | 175,957 | 100.0 | % |
W. P. Carey 2022 10-K– 31 |
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 |
Years Ended December 31, | |||||||||||||||||
2022 | 2021 | Change | |||||||||||||||
Real Estate Revenues | |||||||||||||||||
Lease revenues from: | |||||||||||||||||
Existing net-leased properties | $ | 1,110,502 | $ | 1,103,945 | $ | 6,557 | |||||||||||
Recently acquired net-leased properties | 140,431 | 53,687 | 86,744 | ||||||||||||||
Net-leased properties acquired in the CPA:18 Merger | 36,040 | — | 36,040 | ||||||||||||||
Net-leased properties sold or held for sale | 14,644 | 19,806 | (5,162) | ||||||||||||||
Total lease revenues (including reimbursable tenant costs) | 1,301,617 | 1,177,438 | 124,179 | ||||||||||||||
Income from direct financing leases and loans receivable | 74,266 | 67,555 | 6,711 | ||||||||||||||
Operating property revenues from: | |||||||||||||||||
Operating properties acquired in the CPA:18 Merger | 39,193 | — | 39,193 | ||||||||||||||
Existing operating properties | 20,037 | 13,478 | 6,559 | ||||||||||||||
Total operating property revenues | 59,230 | 13,478 | 45,752 | ||||||||||||||
Other lease-related income | 32,988 | 53,655 | (20,667) | ||||||||||||||
$ | 1,468,101 | $ | 1,312,126 | $ | 155,975 |
W. P. Carey |
W. P. Carey |
W. P. Carey 2022 10-K– 34 |
Years Ended December 31, | |||||||||||
2022 | 2021 | ||||||||||
Average outstanding debt balance | $ | 7,392,208 | $ | 6,906,997 | |||||||
Weighted-average interest rate | 2.7 | % | 2.6 | % |
W. P. Carey 2022 10-K– 35 |
Years Ended December 31, | |||||||||||||||||
2022 | 2021 | Change | |||||||||||||||
Other Gains and (Losses) | |||||||||||||||||
Non-cash unrealized gains related to an increase in the fair value of our investment in common shares of WLT (Note 9) | $ | 49,233 | $ | — | $ | 49,233 | |||||||||||
Non-cash unrealized gains related to an increase in the fair value of our investment in shares of Lineage Logistics (Note 9) | 38,582 | 76,312 | (37,730) | ||||||||||||||
Net realized and unrealized losses on foreign currency exchange rate movements (a) | (26,866) | (15,608) | (11,258) | ||||||||||||||
Non-cash unrealized gains related to an increase in the fair value of our investment in preferred shares of WLT (Note 9) | 18,688 | — | 18,688 | ||||||||||||||
14,363 | (266) | 14,629 | |||||||||||||||
Gain on repayment of secured loan receivable (b) | 10,613 | — | 10,613 | ||||||||||||||
Adjustment to insurance receivable acquired as part of a prior merger (c) | (9,358) | — | (9,358) | ||||||||||||||
Gain (loss) on extinguishment of debt (d) | 1,301 | (75,339) | 76,640 | ||||||||||||||
Other | 593 | 1,225 | (632) | ||||||||||||||
$ | 97,149 | $ | (13,676) | $ | 110,825 |
W. P. Carey |
Years Ended December 31, | |||||||||||||||||
2022 | 2021 | Change | |||||||||||||||
Non-Operating Income | |||||||||||||||||
$ | 24,058 | $ | 2,357 | $ | 21,701 | ||||||||||||
4,308 | 6,438 | (2,130) | |||||||||||||||
Interest income related to our loans to affiliates and cash deposits | 1,011 | 90 | 921 | ||||||||||||||
912 | 4,893 | (3,981) | |||||||||||||||
$ | 30,289 | $ | 13,778 | $ | 16,511 |
Years Ended December 31, | |||||||||||||||||
2022 | 2021 | Change | |||||||||||||||
Earnings (Losses) from Equity Method Investments in Real Estate | |||||||||||||||||
Existing Equity Method Investments: | |||||||||||||||||
Earnings from Las Vegas Retail Complex | $ | 10,077 | $ | 3,017 | $ | 7,060 | |||||||||||
Earnings from Johnson Self Storage (a) | 4,334 | 2,460 | 1,874 | ||||||||||||||
Earnings from Kesko Senukai (b) | 3,908 | 841 | 3,067 | ||||||||||||||
Earnings from Harmon Retail Center | 1,051 | 1,108 | (57) | ||||||||||||||
Losses from WLT (c) | — | (10,790) | 10,790 | ||||||||||||||
19,370 | (3,364) | 22,734 | |||||||||||||||
(4,610) | (13,220) | 8,610 | |||||||||||||||
Earnings from Fortenova Grupa d.d. (d) | 136 | 1,542 | (1,406) | ||||||||||||||
— | (6,830) | 6,830 | |||||||||||||||
Other | 1,325 | 2,223 | (898) | ||||||||||||||
(3,149) | (16,285) | 13,136 | |||||||||||||||
$ | 16,221 | $ | (19,649) | $ | 35,870 |
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 2022 10-K– 37 |
Years Ended December 31, | |||||||||||||||||
2022 | 2021 | Change | |||||||||||||||
Investment Management Revenues | |||||||||||||||||
Asset management and other revenue | |||||||||||||||||
CPA:18 – Global | $ | 6,956 | $ | 12,528 | $ | (5,572) | |||||||||||
CESH | 1,511 | 2,835 | (1,324) | ||||||||||||||
8,467 | 15,363 | (6,896) | |||||||||||||||
Reimbursable costs from affiliates | |||||||||||||||||
CPA:18 – Global | 2,040 | 2,874 | (834) | ||||||||||||||
CESH | 478 | 878 | (400) | ||||||||||||||
WLT | — | 283 | (283) | ||||||||||||||
2,518 | 4,035 | (1,517) | |||||||||||||||
$ | 10,985 | $ | 19,398 | $ | (8,413) |
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 |
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, | |||||||||||
2022 | 2021 | ||||||||||
Earnings from equity method investments in the Managed Programs: | |||||||||||
Distributions of Available Cash from CPA:18 – Global (a) | $ | 8,746 | $ | 7,345 | |||||||
Earnings from equity method investments in the Managed Programs (a) (b) | 4,542 | 1,475 | |||||||||
Earnings from equity method investments in the Managed Programs | $ | 13,288 | $ | 8,820 |
W. P. Carey 2022 10-K– 39 |
December 31, | December 31, | |||||||||||||||||
2019 | 2018 | 2022 | 2021 | |||||||||||||||
Carrying Value | Carrying Value | |||||||||||||||||
Fixed rate: | Fixed rate: | |||||||||||||||||
Senior Unsecured Notes (a) | $ | 4,390,189 | $ | 3,554,470 | Senior Unsecured Notes (a) | $ | 5,916,400 | $ | 5,701,913 | |||||||||
Non-recourse mortgages (a) | 1,232,898 | 1,795,460 | Non-recourse mortgages (a) | 824,270 | 235,898 | |||||||||||||
5,623,087 | 5,349,930 | 6,740,670 | 5,937,811 | |||||||||||||||
Variable rate: | Variable rate: | |||||||||||||||||
Unsecured Term Loans (a) | Unsecured Term Loans (a) | 552,539 | 310,583 | |||||||||||||||
Unsecured Revolving Credit Facility | 201,267 | 91,563 | Unsecured Revolving Credit Facility | 276,392 | 410,596 | |||||||||||||
Non-recourse mortgages (a): | Non-recourse mortgages (a): | |||||||||||||||||
Floating interest rate mortgage loans | Floating interest rate mortgage loans | 213,958 | 53,571 | |||||||||||||||
Amount subject to interest rate swaps and caps | 157,518 | 561,959 | Amount subject to interest rate swaps and caps | 94,189 | 79,055 | |||||||||||||
Floating interest rate mortgage loans | 72,071 | 375,239 | ||||||||||||||||
430,856 | 1,028,761 | 1,137,078 | 853,805 | |||||||||||||||
$ | 6,053,943 | $ | 6,378,691 | $ | 7,877,748 | $ | 6,791,616 | |||||||||||
Percent of Total Debt | Percent of Total Debt | |||||||||||||||||
Fixed rate | 93 | % | 84 | % | Fixed rate | 86 | % | 87 | % | |||||||||
Variable rate | 7 | % | 16 | % | Variable rate | 14 | % | 13 | % | |||||||||
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 | 2.9 | % | 2.7 | % | |||||||||
Variable rate (b) | 2.1 | % | 3.4 | % | Variable rate (b) | 3.6 | % | 1.1 | % | |||||||||
Total debt | 3.2 | % | 3.6 | % | Total debt | 3.0 | % | 2.5 | % |
W. P. Carey 2022 10-K– 40 |
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 | |||||||||
Non-recourse mortgages — principal (a) | 1,469,250 | 164,682 | 704,587 | 460,895 | 139,086 | ||||||||||||||
Senior Unsecured Credit Facility — principal (c) | 201,267 | — | 201,267 | — | — | ||||||||||||||
Interest on borrowings (d) | 935,444 | 193,812 | 343,555 | 233,263 | 164,814 | ||||||||||||||
Capital commitments and tenant expansion allowances (e) | 367,001 | 271,876 | 85,607 | 3,000 | 6,518 | ||||||||||||||
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 |
W. P. Carey |
W. P. Carey 2022 10-K– 42 |
Years Ended December 31, | |||||||||||
2022 | 2021 | ||||||||||
Net income attributable to W. P. Carey | $ | 599,139 | $ | 409,988 | |||||||
Adjustments: | |||||||||||
Depreciation and amortization of real property | 500,764 | 470,554 | |||||||||
Gain on sale of real estate, net | (43,476) | (40,425) | |||||||||
Impairment charges — real estate | 39,119 | 24,246 | |||||||||
Gain on change in control of interests (a) (b) | (33,931) | — | |||||||||
Impairment charges — Investment Management goodwill (c) | 29,334 | — | |||||||||
Proportionate share of adjustments to earnings from equity method investments (d) (e) | 15,155 | 32,213 | |||||||||
Proportionate share of adjustments for noncontrolling interests (f) | (491) | (16) | |||||||||
Total adjustments | 506,474 | 486,572 | |||||||||
FFO (as defined by NAREIT) attributable to W. P. Carey | 1,105,613 | 896,560 | |||||||||
Adjustments: | |||||||||||
Other (gains) and losses (g) | (96,038) | 12,885 | |||||||||
Straight-line and other leasing and financing adjustments (h) | (54,431) | (83,267) | |||||||||
Above- and below-market rent intangible lease amortization, net | 41,390 | 53,585 | |||||||||
Stock-based compensation | 32,841 | 24,881 | |||||||||
Merger and other expenses (i) | 19,387 | (4,546) | |||||||||
Amortization of deferred financing costs | 17,203 | 13,523 | |||||||||
Tax benefit — deferred and other | (3,759) | (5,967) | |||||||||
Other amortization and non-cash items | 1,931 | 1,709 | |||||||||
Proportionate share of adjustments to earnings from equity method investments (e) | (2,770) | 12,152 | |||||||||
Proportionate share of adjustments for noncontrolling interests (f) | (769) | (24) | |||||||||
Total adjustments | (45,015) | 24,931 | |||||||||
AFFO attributable to W. P. Carey | $ | 1,060,598 | $ | 921,491 | |||||||
Summary | |||||||||||
FFO (as defined by NAREIT) attributable to W. P. Carey | $ | 1,105,613 | $ | 896,560 | |||||||
AFFO attributable to W. P. Carey | $ | 1,060,598 | $ | 921,491 |
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, | |||||||||||
2022 | 2021 | ||||||||||
Net income from Real Estate attributable to W. P. Carey | $ | 591,603 | $ | 384,766 | |||||||
Adjustments: | |||||||||||
Depreciation and amortization of real property | 500,764 | 470,554 | |||||||||
Gain on sale of real estate, net | (43,476) | (40,425) | |||||||||
Impairment charges — real estate | 39,119 | 24,246 | |||||||||
Gain on change in control of interests (a) (b) | (11,405) | — | |||||||||
Proportionate share of adjustments to earnings from equity method investments (d) (e) | 15,155 | 32,213 | |||||||||
Proportionate share of adjustments for noncontrolling interests (f) | (491) | (16) | |||||||||
Total adjustments | 499,666 | 486,572 | |||||||||
FFO (as defined by NAREIT) attributable to W. P. Carey — Real Estate | 1,091,269 | 871,338 | |||||||||
Adjustments: | |||||||||||
Other (gains) and losses (g) | (97,149) | 13,676 | |||||||||
Straight-line and other leasing and financing adjustments (h) | (54,431) | (83,267) | |||||||||
Above- and below-market rent intangible lease amortization, net | 41,390 | 53,585 | |||||||||
Stock-based compensation | 32,841 | 24,881 | |||||||||
Merger and other expenses (i) | 19,384 | (4,597) | |||||||||
Amortization of deferred financing costs | 17,203 | 13,523 | |||||||||
Tax benefit — deferred and other | (8,164) | (4,938) | |||||||||
Other amortization and non-cash items | 1,931 | 1,709 | |||||||||
Proportionate share of adjustments to earnings from equity method investments (e) | (723) | 10,253 | |||||||||
Proportionate share of adjustments for noncontrolling interests (f) | (769) | (24) | |||||||||
Total adjustments | (48,487) | 24,801 | |||||||||
AFFO attributable to W. P. Carey — Real Estate | $ | 1,042,782 | $ | 896,139 | |||||||
Summary | |||||||||||
FFO (as defined by NAREIT) attributable to W. P. Carey — Real Estate | $ | 1,091,269 | $ | 871,338 | |||||||
AFFO attributable to W. P. Carey — Real Estate | $ | 1,042,782 | $ | 896,139 |
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, | |||||||||||||||||||||
2019 | 2018 | 2017 | 2022 | 2021 | ||||||||||||||||||
Net income from Investment Management attributable to W. P. Carey | $ | 33,178 | $ | 104,330 | $ | 85,150 | Net income from Investment Management attributable to W. P. Carey | $ | 7,536 | $ | 25,222 | |||||||||||
Adjustments: | Adjustments: | |||||||||||||||||||||
Gain on change in control of interests (b) | — | (29,022 | ) | — | ||||||||||||||||||
Impairment charges — Investment Management goodwill (c) | Impairment charges — Investment Management goodwill (c) | 29,334 | — | |||||||||||||||||||
Gain on change in control of interests (a) (b) | Gain on change in control of interests (a) (b) | (22,526) | — | |||||||||||||||||||
Total adjustments | — | (29,022 | ) | — | Total adjustments | 6,808 | — | |||||||||||||||
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 | 14,344 | 25,222 | ||||||||||||||||
Adjustments: | Adjustments: | |||||||||||||||||||||
Stock-based compensation | 5,539 | 7,844 | 11,957 | |||||||||||||||||||
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 | — | |||||||||||||||||||
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 | |||||||||||||||||||
Tax expense (benefit) — deferred and other | Tax expense (benefit) — deferred and other | 4,405 | (1,029) | |||||||||||||||||||
Other (gains) and losses (g) | Other (gains) and losses (g) | 1,111 | (791) | |||||||||||||||||||
Merger and other expenses | Merger and other expenses | 3 | 51 | |||||||||||||||||||
Proportionate share of adjustments to earnings from equity method investments (e) | Proportionate share of adjustments to earnings from equity method investments (e) | (2,047) | 1,899 | |||||||||||||||||||
Total adjustments | 12,099 | 42,776 | 30,964 | Total adjustments | 3,472 | 130 | ||||||||||||||||
AFFO attributable to W. P. Carey — Investment Management | $ | 45,277 | $ | 118,084 | $ | 116,114 | AFFO attributable to W. P. Carey — Investment Management | $ | 17,816 | $ | 25,352 | |||||||||||
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 | $ | 14,344 | $ | 25,222 | |||||||||||
AFFO attributable to W. P. Carey — Investment Management | $ | 45,277 | $ | 118,084 | $ | 116,114 | AFFO attributable to W. P. Carey — Investment Management | $ | 17,816 | $ | 25,352 |
(a)Amount for the year ended December 31, 2022 represents a gain recognized on the remaining interests in four investments acquired in the CPA:18 Merger, which we had previously accounted for under the equity method (Note 3 |
W. P. Carey |
2020 | 2021 | 2022 | 2023 | 2024 | Thereafter | Total | Fair value | 2023 | 2024 | 2025 | 2026 | 2027 | 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) | $ | 239,146 | $ | 1,195,330 | $ | 791,654 | $ | 972,135 | $ | 533,760 | $ | 3,070,039 | $ | 6,802,064 | $ | 6,041,968 | |||||||||||||||||||||||||||||||||||||||||||||
Variable-rate debt (a) | $ | 11,870 | $ | 232,382 | $ | 53,600 | $ | 99,118 | $ | 35,018 | $ | — | $ | 431,988 | $ | 430,132 | Variable-rate debt (a) | $ | 217,562 | $ | 36,138 | $ | 872,622 | $ | 11,290 | $ | — | $ | — | $ | 1,137,612 | $ | 1,135,000 |
(a)Amounts are based on the exchange rate at December 31, |
(b)Amounts after 2023 are primarily comprised of principal payments for our Senior Unsecured Notes (Note 11). |
W. P. Carey 2022 10-K– 46 |
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. | ||||
Report of Independent Registered Public Accounting Firm (PCAOB ID 238) | |||||
W. P. Carey |
W. P. Carey |
W. P. Carey 2022 10-K– 50 |
W. P. Carey |
December 31, | December 31, | |||||||||||||||||
2019 | 2018 | 2022 | 2021 | |||||||||||||||
Assets | Assets | |||||||||||||||||
Investments in real estate: | Investments in real estate: | |||||||||||||||||
Land, buildings and improvements | $ | 9,856,191 | $ | 9,251,396 | ||||||||||||||
Net investments in direct financing leases | 896,549 | 1,306,215 | ||||||||||||||||
Land, buildings and improvements — net lease and other | Land, buildings and improvements — net lease and other | $ | 13,338,857 | $ | 11,791,734 | |||||||||||||
Land, buildings and improvements — operating properties | Land, buildings and improvements — operating properties | 1,095,892 | 83,673 | |||||||||||||||
Net investments in direct financing leases and loans receivable | Net investments in direct financing leases and loans receivable | 771,761 | 813,577 | |||||||||||||||
In-place lease intangible assets and other | 2,186,851 | 2,009,628 | In-place lease intangible assets and other | 2,659,750 | 2,386,000 | |||||||||||||
Above-market rent intangible assets | 909,139 | 925,797 | Above-market rent intangible assets | 833,751 | 843,410 | |||||||||||||
Investments in real estate | 13,848,730 | 13,493,036 | Investments in real estate | 18,700,011 | 15,918,394 | |||||||||||||
Accumulated depreciation and amortization | (2,035,995 | ) | (1,564,182 | ) | Accumulated depreciation and amortization | (3,269,057) | (2,889,294) | |||||||||||
Assets held for sale, net | 104,010 | — | Assets held for sale, net | 57,944 | 8,269 | |||||||||||||
Net investments in real estate | 11,916,745 | 11,928,854 | Net investments in real estate | 15,488,898 | 13,037,369 | |||||||||||||
Equity investments in the Managed Programs and real estate | 324,004 | 329,248 | ||||||||||||||||
Equity method investments | Equity method investments | 327,502 | 356,637 | |||||||||||||||
Cash and cash equivalents | 196,028 | 217,644 | Cash and cash equivalents | 167,996 | 165,427 | |||||||||||||
Due from affiliates | 57,816 | 74,842 | Due from affiliates | 919 | 1,826 | |||||||||||||
Other assets, net | 631,637 | 711,507 | Other assets, net | 1,079,308 | 1,017,842 | |||||||||||||
Goodwill | 934,688 | 920,944 | Goodwill | 1,037,412 | 901,529 | |||||||||||||
Total assets (a) | $ | 14,060,918 | $ | 14,183,039 | Total assets (a) | $ | 18,102,035 | $ | 15,480,630 | |||||||||
Liabilities and Equity | Liabilities and Equity | |||||||||||||||||
Debt: | Debt: | |||||||||||||||||
Senior unsecured notes, net | $ | 4,390,189 | $ | 3,554,470 | Senior unsecured notes, net | $ | 5,916,400 | $ | 5,701,913 | |||||||||
Unsecured term loans, net | Unsecured term loans, net | 552,539 | 310,583 | |||||||||||||||
Unsecured revolving credit facility | 201,267 | 91,563 | Unsecured revolving credit facility | 276,392 | 410,596 | |||||||||||||
Non-recourse mortgages, net | 1,462,487 | 2,732,658 | Non-recourse mortgages, net | 1,132,417 | 368,524 | |||||||||||||
Debt, net | 6,053,943 | 6,378,691 | Debt, net | 7,877,748 | 6,791,616 | |||||||||||||
Accounts payable, accrued expenses and other liabilities | 487,405 | 403,896 | Accounts payable, accrued expenses and other liabilities | 623,843 | 572,846 | |||||||||||||
Below-market rent and other intangible liabilities, net | 210,742 | 225,128 | Below-market rent and other intangible liabilities, net | 184,584 | 183,286 | |||||||||||||
Deferred income taxes | 179,309 | 173,115 | Deferred income taxes | 178,959 | 145,572 | |||||||||||||
Dividends payable | 181,346 | 172,154 | Dividends payable | 228,257 | 203,859 | |||||||||||||
Total liabilities (a) | 7,112,745 | 7,352,984 | Total liabilities (a) | 9,093,391 | 7,897,179 | |||||||||||||
Preferred stock, $0.001 par value, 50,000,000 shares authorized; none issued | — | — | 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 | ||||||||||||||||
Common stock, $0.001 par value, 450,000,000 shares authorized; 210,620,949 and 190,013,751 shares, respectively, issued and outstanding | Common stock, $0.001 par value, 450,000,000 shares authorized; 210,620,949 and 190,013,751 shares, respectively, issued and outstanding | 211 | 190 | |||||||||||||||
Additional paid-in capital | 8,717,535 | 8,187,335 | Additional paid-in capital | 11,706,836 | 9,977,686 | |||||||||||||
Distributions in excess of accumulated earnings | (1,557,374 | ) | (1,143,992 | ) | Distributions in excess of accumulated earnings | (2,486,633) | (2,224,231) | |||||||||||
Deferred compensation obligation | 37,263 | 35,766 | Deferred compensation obligation | 57,012 | 49,810 | |||||||||||||
Accumulated other comprehensive loss | (255,667 | ) | (254,996 | ) | Accumulated other comprehensive loss | (283,780) | (221,670) | |||||||||||
Total stockholders’ equity | 6,941,929 | 6,824,278 | Total stockholders’ equity | 8,993,646 | 7,581,785 | |||||||||||||
Noncontrolling interests | 6,244 | 5,777 | Noncontrolling interests | 14,998 | 1,666 | |||||||||||||
Total equity | 6,948,173 | 6,830,055 | Total equity | 9,008,644 | 7,583,451 | |||||||||||||
Total liabilities and equity | $ | 14,060,918 | $ | 14,183,039 | Total liabilities and equity | $ | 18,102,035 | $ | 15,480,630 |
W. P. Carey |
Years Ended December 31, | |||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||
Revenues | |||||||||||||||||
Real Estate: | |||||||||||||||||
Lease revenues | $ | 1,301,617 | $ | 1,177,438 | $ | 1,080,623 | |||||||||||
Income from direct financing leases and loans receivable | 74,266 | 67,555 | 74,893 | ||||||||||||||
Operating property revenues | 59,230 | 13,478 | 11,399 | ||||||||||||||
Other lease-related income | 32,988 | 53,655 | 11,082 | ||||||||||||||
1,468,101 | 1,312,126 | 1,177,997 | |||||||||||||||
Investment Management: | |||||||||||||||||
Asset management and other revenue | 8,467 | 15,363 | 22,467 | ||||||||||||||
Reimbursable costs from affiliates | 2,518 | 4,035 | 8,855 | ||||||||||||||
10,985 | 19,398 | 31,322 | |||||||||||||||
1,479,086 | 1,331,524 | 1,209,319 | |||||||||||||||
Operating Expenses | |||||||||||||||||
Depreciation and amortization | 503,403 | 475,989 | 442,935 | ||||||||||||||
General and administrative | 88,952 | 81,888 | 75,950 | ||||||||||||||
Reimbursable tenant costs | 73,622 | 62,417 | 56,409 | ||||||||||||||
Property expenses, excluding reimbursable tenant costs | 50,753 | 47,898 | 44,067 | ||||||||||||||
Impairment charges — real estate | 39,119 | 24,246 | 35,830 | ||||||||||||||
Stock-based compensation expense | 32,841 | 24,881 | 15,938 | ||||||||||||||
Impairment charges — Investment Management goodwill | 29,334 | — | — | ||||||||||||||
Operating property expenses | 27,054 | 9,848 | 9,901 | ||||||||||||||
Merger and other expenses | 19,387 | (4,546) | 247 | ||||||||||||||
Reimbursable costs from affiliates | 2,518 | 4,035 | 8,855 | ||||||||||||||
Subadvisor fees | — | — | 1,469 | ||||||||||||||
866,983 | 726,656 | 691,601 | |||||||||||||||
Other Income and Expenses | |||||||||||||||||
Interest expense | (219,160) | (196,831) | (210,087) | ||||||||||||||
Other gains and (losses) | 96,038 | (12,885) | 37,165 | ||||||||||||||
Gain on sale of real estate, net | 43,476 | 40,425 | 109,370 | ||||||||||||||
Gain on change in control of interests | 33,931 | — | — | ||||||||||||||
Non-operating income | 30,309 | 13,860 | 9,587 | ||||||||||||||
Earnings (losses) from equity method investments | 29,509 | (10,829) | (18,557) | ||||||||||||||
14,103 | (166,260) | (72,522) | |||||||||||||||
Income before income taxes | 626,206 | 438,608 | 445,196 | ||||||||||||||
(Provision for) benefit from income taxes | (27,724) | (28,486) | 20,759 | ||||||||||||||
Net Income | 598,482 | 410,122 | 465,955 | ||||||||||||||
Net loss (income) attributable to noncontrolling interests | 657 | (134) | (10,596) | ||||||||||||||
Net Income Attributable to W. P. Carey | $ | 599,139 | $ | 409,988 | $ | 455,359 | |||||||||||
Basic Earnings Per Share | $ | 3.00 | $ | 2.25 | $ | 2.61 | |||||||||||
Diluted Earnings Per Share | $ | 2.99 | $ | 2.24 | $ | 2.60 | |||||||||||
Weighted-Average Shares Outstanding | |||||||||||||||||
Basic | 199,633,802 | 182,486,476 | 174,504,406 | ||||||||||||||
Diluted | 200,427,124 | 183,127,098 | 174,839,428 |
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 | 2022 | 2021 | 2020 | |||||||||||||||||||||||
Net Income | $ | 306,544 | $ | 424,341 | $ | 285,083 | Net Income | $ | 598,482 | $ | 410,122 | $ | 465,955 | |||||||||||||||
Other Comprehensive (Loss) Income | Other Comprehensive (Loss) Income | |||||||||||||||||||||||||||
Unrealized (loss) gain on derivative instruments | (1,054 | ) | 4,923 | (37,778 | ) | |||||||||||||||||||||||
Foreign currency translation adjustments | 376 | (31,843 | ) | 72,428 | Foreign currency translation adjustments | (63,149) | (35,736) | 47,746 | ||||||||||||||||||||
Unrealized gain (loss) on investments | 7 | 154 | (71 | ) | ||||||||||||||||||||||||
Unrealized gain (loss) on derivative instruments | Unrealized gain (loss) on derivative instruments | 19,732 | 35,305 | (31,978) | ||||||||||||||||||||||||
(Reclassification of unrealized gain on investments to net income) / Unrealized gain on investments | (Reclassification of unrealized gain on investments to net income) / Unrealized gain on investments | (18,688) | 18,688 | — | ||||||||||||||||||||||||
(671 | ) | (26,766 | ) | 34,579 | (62,105) | 18,257 | 15,768 | |||||||||||||||||||||
Comprehensive Income | 305,873 | 397,575 | 319,662 | Comprehensive Income | 536,377 | 428,379 | 481,723 | |||||||||||||||||||||
Amounts Attributable to Noncontrolling Interests | Amounts Attributable to Noncontrolling Interests | |||||||||||||||||||||||||||
Net income | (1,301 | ) | (12,775 | ) | (7,794 | ) | ||||||||||||||||||||||
Net loss (income) | Net loss (income) | 657 | (134) | (10,596) | ||||||||||||||||||||||||
Foreign currency translation adjustments | — | 7,774 | (16,120 | ) | Foreign currency translation adjustments | (5) | — | — | ||||||||||||||||||||
Unrealized loss on derivative instruments | — | 7 | 15 | |||||||||||||||||||||||||
Comprehensive income attributable to noncontrolling interests | (1,301 | ) | (4,994 | ) | (23,899 | ) | ||||||||||||||||||||||
Unrealized gain on derivative instruments | Unrealized gain on derivative instruments | — | (21) | (7) | ||||||||||||||||||||||||
Comprehensive loss (income) attributable to noncontrolling interests | Comprehensive loss (income) attributable to noncontrolling interests | 652 | (155) | (10,603) | ||||||||||||||||||||||||
Comprehensive Income Attributable to W. P. Carey | $ | 304,572 | $ | 392,581 | $ | 295,763 | Comprehensive Income Attributable to W. P. Carey | $ | 537,029 | $ | 428,224 | $ | 471,120 |
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, 2022 | 190,013,751 | $ | 190 | $ | 9,977,686 | $ | (2,224,231) | $ | 49,810 | $ | (221,670) | $ | 7,581,785 | $ | 1,666 | $ | 7,583,451 | ||||||||||||||||||||||||||||||||||||
Shares issued to stockholders of CPA:18 – Global in connection with CPA:18 Merger | 13,786,302 | 14 | 1,205,736 | 1,205,750 | 1,205,750 | ||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued under Equity Forwards, net | 3,925,000 | 4 | 284,198 | 284,202 | 284,202 | ||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued under ATM Program, net | 2,740,295 | 3 | 218,098 | 218,101 | 218,101 | ||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued upon delivery of vested restricted share awards | 152,830 | — | (6,612) | (6,612) | (6,612) | ||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued upon purchases under employee share purchase plan | 2,771 | — | 205 | 205 | 205 | ||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of stock-based compensation expense | 32,841 | 32,841 | 32,841 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Deferral of vested shares, net | (6,696) | 6,696 | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition of noncontrolling interests in connection with the CPA:18 Merger | — | 14,367 | 14,367 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Distributions to noncontrolling interests | — | (413) | (413) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Contributions from noncontrolling interests | — | 30 | 30 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends declared ($4.242 per share) | 1,380 | (861,541) | 506 | (859,655) | (859,655) | ||||||||||||||||||||||||||||||||||||||||||||||||
Net income | 599,139 | 599,139 | (657) | 598,482 | |||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive loss: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Foreign currency translation adjustments | (63,154) | (63,154) | 5 | (63,149) | |||||||||||||||||||||||||||||||||||||||||||||||||
Unrealized gain on derivative instruments | 19,732 | 19,732 | 19,732 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Reclassification of unrealized gain on investments to net income | (18,688) | (18,688) | (18,688) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at December 31, 2022 | 210,620,949 | $ | 211 | $ | 11,706,836 | $ | (2,486,633) | $ | 57,012 | $ | (283,780) | $ | 8,993,646 | $ | 14,998 | $ | 9,008,644 |
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, 2021 | 175,401,757 | $ | 175 | $ | 8,925,365 | $ | (1,850,935) | $ | 42,014 | $ | (239,906) | $ | 6,876,713 | $ | 1,656 | $ | 6,878,369 | ||||||||||||||||||||||||||||||||||||
Shares issued under Equity Forwards, net | 9,798,209 | 10 | 697,034 | 697,044 | 697,044 | ||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued under ATM Program, net | 4,690,073 | 5 | 340,061 | 340,066 | 340,066 | ||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued upon delivery of vested restricted share awards | 119,268 | — | (3,822) | (3,822) | (3,822) | ||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued upon purchases under employee share purchase plan | 4,444 | — | 305 | 305 | 305 | ||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of stock-based compensation expense | 24,881 | 24,881 | 24,881 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Deferral of vested shares, net | (7,044) | 7,044 | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Distributions to noncontrolling interests | — | (145) | (145) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends declared ($4.205 per share) | 906 | (783,284) | 752 | (781,626) | (781,626) | ||||||||||||||||||||||||||||||||||||||||||||||||
Net income | 409,988 | 409,988 | 134 | 410,122 | |||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive loss: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Foreign currency translation adjustments | (35,736) | (35,736) | (35,736) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Unrealized gain on derivative instruments | 35,284 | 35,284 | 21 | 35,305 | |||||||||||||||||||||||||||||||||||||||||||||||||
Unrealized gain on investments | 18,688 | 18,688 | 18,688 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at December 31, 2021 | 190,013,751 | $ | 190 | $ | 9,977,686 | $ | (2,224,231) | $ | 49,810 | $ | (221,670) | $ | 7,581,785 | $ | 1,666 | $ | 7,583,451 |
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, 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 | (14,812) | (14,812) | (14,812) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued under Equity Forwards, 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 ATM Program, 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 | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Distributions to noncontrolling interests | — | (5,326) | (5,326) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends declared ($4.172 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, 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, | |||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||
Cash Flows — Operating Activities | |||||||||||||||||
Net income | $ | 598,482 | $ | 410,122 | $ | 465,955 | |||||||||||
Adjustments to net income: | |||||||||||||||||
Depreciation and amortization, including intangible assets and deferred financing costs | 519,741 | 490,722 | 456,210 | ||||||||||||||
Net realized and unrealized (gains) losses on extinguishment of debt, equity securities, foreign currency exchange rate movements, and other | (76,202) | 15,505 | (55,810) | ||||||||||||||
Straight-line rent adjustments | (57,988) | (50,565) | (50,299) | ||||||||||||||
Gain on sale of real estate, net | (43,476) | (40,425) | (109,370) | ||||||||||||||
Amortization of rent-related intangibles and deferred rental revenue | 43,249 | 56,910 | 52,736 | ||||||||||||||
Impairment charges — real estate | 39,119 | 24,246 | 35,830 | ||||||||||||||
Gain on change in control of interests | (33,931) | — | — | ||||||||||||||
Stock-based compensation expense | 32,841 | 24,881 | 15,938 | ||||||||||||||
Distributions of earnings from equity method investments | 30,236 | 15,471 | 9,419 | ||||||||||||||
(Earnings) losses from equity method investments | (29,509) | 10,829 | 18,557 | ||||||||||||||
Impairment charges — Investment Management goodwill | 29,334 | — | — | ||||||||||||||
(Decrease) increase in allowance for credit losses | (24,976) | 266 | 22,259 | ||||||||||||||
Deferred income tax benefit | (8,071) | (4,703) | (49,076) | ||||||||||||||
Asset management revenue received in shares of Managed Programs | (1,024) | (12,528) | (16,642) | ||||||||||||||
Net changes in other operating assets and liabilities | (14,269) | (14,252) | 5,831 | ||||||||||||||
Net Cash Provided by Operating Activities | 1,003,556 | 926,479 | 801,538 | ||||||||||||||
Cash Flows — Investing Activities | |||||||||||||||||
Purchases of real estate | (1,145,734) | (1,306,858) | (656,313) | ||||||||||||||
Cash paid to stockholders of CPA:18 – Global in the CPA:18 Merger | (423,435) | — | — | ||||||||||||||
Cash and restricted cash acquired in connection with the CPA:18 Merger | 331,063 | — | — | ||||||||||||||
Proceeds from sales of real estate | 234,652 | 163,638 | 366,532 | ||||||||||||||
147,625 | — | — | |||||||||||||||
Funding for real estate construction, redevelopments, and other capital expenditures on real estate | (104,441) | (113,616) | (207,256) | ||||||||||||||
Capital contributions to equity method investments | (93,416) | (107,552) | (4,253) | ||||||||||||||
Proceeds from repayment of loans receivable | 34,000 | — | 11,000 | ||||||||||||||
Proceeds from repayment of short-term loans to affiliates | 26,000 | 62,048 | 51,702 | ||||||||||||||
Funding of short-term loans to affiliates | (26,000) | (41,000) | (26,481) | ||||||||||||||
Investments in loans receivable | (20,180) | (217,711) | — | ||||||||||||||
Other investing activities, net | (19,767) | (19,631) | 1,165 | ||||||||||||||
Return of capital from equity method investments | 7,102 | 13,955 | 19,483 | ||||||||||||||
Purchases of securities | — | — | (95,511) | ||||||||||||||
Net Cash Used in Investing Activities | (1,052,531) | (1,566,727) | (539,932) | ||||||||||||||
Cash Flows — Financing Activities | |||||||||||||||||
Repayments of Unsecured Revolving Credit Facility | (2,168,392) | (1,663,869) | (1,137,026) | ||||||||||||||
Proceeds from Unsecured Revolving Credit Facility | 2,079,420 | 2,000,639 | 1,019,158 | ||||||||||||||
Dividends paid | (835,257) | (764,281) | (726,955) | ||||||||||||||
Proceeds from issuance of Senior Unsecured Notes | 334,775 | 1,385,059 | 495,495 | ||||||||||||||
Proceeds from shares issued under Equity Forwards, net of selling costs | 284,259 | 697,044 | 199,716 | ||||||||||||||
Proceeds from Unsecured Term Loans | 283,139 | — | 298,974 | ||||||||||||||
Proceeds from shares issued under ATM Program, net of selling costs | 218,081 | 339,968 | 158 | ||||||||||||||
Scheduled payments of mortgage principal | (127,230) | (64,290) | (275,746) | ||||||||||||||
Prepayments of mortgage principal | (10,381) | (745,124) | (68,501) | ||||||||||||||
Other financing activities, net | 8,839 | 4,606 | 8,917 | ||||||||||||||
Payments for withholding taxes upon delivery of equity-based awards | (6,612) | (3,822) | (5,372) | ||||||||||||||
Payment of financing costs | (2,371) | (11,295) | (14,205) | ||||||||||||||
Distributions to noncontrolling interests | (413) | (145) | (5,326) | ||||||||||||||
Contributions from noncontrolling interests | 30 | — | — | ||||||||||||||
Redemption of Senior Unsecured Notes | — | (617,442) | — | ||||||||||||||
Net Cash Provided by (Used in) Financing Activities | 57,887 | 557,048 | (210,713) | ||||||||||||||
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 | (2,721) | (10,629) | 9,368 | ||||||||||||||
Net increase (decrease) in cash and cash equivalents and restricted cash | 6,191 | (93,829) | 60,261 | ||||||||||||||
Cash and cash equivalents and restricted cash, beginning of year | 217,950 | 311,779 | 251,518 | ||||||||||||||
Cash and cash equivalents and restricted cash, end of year | $ | 224,141 | $ | 217,950 | $ | 311,779 |
W. P. Carey |
Total Consideration | |||||
Fair value of W. P. Carey shares of common stock issued | $ | 1,205,750 | |||
Cash consideration paid | 423,297 | ||||
Cash paid for fractional shares | 138 | ||||
Fair value of our equity interest in CPA:18 – Global prior to the CPA:18 Merger | 88,299 | ||||
Fair value of our equity interest in jointly owned investments with CPA:18 – Global prior to the CPA:18 Merger | 28,574 | ||||
1,746,058 | |||||
Assets Acquired at Fair Value | |||||
Land, buildings and improvements — net lease and other | 881,613 | ||||
Land, buildings and improvements — operating properties | 1,000,447 | ||||
Net investments in direct financing leases and loans receivable | 38,517 | ||||
In-place lease and other intangible assets | 224,458 | ||||
Above-market rent intangible assets | 61,090 | ||||
Assets held for sale | 85,026 | ||||
Goodwill | 172,346 | ||||
Other assets, net (excluding restricted cash) | 25,229 | ||||
Liabilities Assumed at Fair Value | |||||
Non-recourse mortgages, net | 900,173 | ||||
Accounts payable, accrued expenses and other liabilities | 90,035 | ||||
Below-market rent and other intangible liabilities | 16,836 | ||||
Deferred income taxes | 52,320 | ||||
Amounts attributable to noncontrolling interests | 14,367 | ||||
Net assets acquired excluding cash and restricted cash | 1,414,995 | ||||
Cash and cash equivalents and restricted cash acquired | $ | 331,063 |
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 2022 10-K– 60 |
W. P. Carey 2022 10-K– 61 |
W. P. Carey 2022 10-K– 62 |
W. P. Carey 2022 10-K– 63 |
December 31, | |||||||||||
2022 | 2021 | ||||||||||
Land, buildings and improvements — net lease and other | $ | 590,390 | $ | 426,831 | |||||||
Land, buildings and improvements — operating properties | 143,390 | — | |||||||||
Net investments in direct financing leases and loans receivable | 144,103 | 144,103 | |||||||||
In-place lease intangible assets and other | 72,070 | 42,884 | |||||||||
Above-market rent intangible assets | 33,634 | 26,720 | |||||||||
Accumulated depreciation and amortization | (176,379) | (154,413) | |||||||||
Total assets | 843,500 | 500,884 | |||||||||
Non-recourse mortgages, net | $ | 132,950 | $ | 1,485 | |||||||
Below-market rent and other intangible liabilities, net | 18,891 | 20,568 | |||||||||
Total liabilities | 199,633 | 46,302 |
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 2022 10-K– 64 |
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, | |||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||
Cash and cash equivalents | $ | 167,996 | $ | 165,427 | $ | 248,662 | |||||||||||
Restricted cash (a) | 56,145 | 52,523 | 63,117 | ||||||||||||||
Total cash and cash equivalents and restricted cash | $ | 224,141 | $ | 217,950 | $ | 311,779 |
W. P. Carey |
W. P. Carey 2022 10-K– 66 |
W. P. Carey |
W. P. Carey 2022 10-K– 68 |
W. P. Carey 2022 10-K– 69 |
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 |
Preliminary Purchase Price Allocation (in thousands) | |||||
Total Consideration | |||||
Fair value of W. P. Carey shares of common stock issued | $ | 1,205,750 | |||
Cash consideration paid | 423,297 | ||||
Cash paid for fractional shares | 138 | ||||
Merger Consideration | 1,629,185 | ||||
Fair value of our equity interest in CPA:18 – Global prior to the CPA:18 Merger | 88,299 | ||||
Fair value of our equity interest in jointly owned investments with CPA:18 – Global prior to the CPA:18 Merger | 28,574 | ||||
$ | 1,746,058 |
W. P. Carey 2022 10-K– 70 |
Preliminary Purchase Price Allocation (in thousands) | |||||
Assets | |||||
Land, buildings and improvements — net lease and other | $ | 881,613 | |||
Land, buildings and improvements — operating properties | 1,000,447 | ||||
Net investments in direct financing leases and loans receivable | 38,517 | ||||
In-place lease and other intangible assets | 224,458 | ||||
Above-market rent intangible assets | 61,090 | ||||
Assets held for sale | 85,026 | ||||
Cash and cash equivalents and restricted cash | 331,063 | ||||
Other assets, net (excluding restricted cash) | 25,229 | ||||
Total assets | 2,647,443 | ||||
Liabilities | |||||
Non-recourse mortgages, net | 900,173 | ||||
Accounts payable, accrued expenses and other liabilities | 90,035 | ||||
Below-market rent and other intangible liabilities | 16,836 | ||||
Deferred income taxes | 52,320 | ||||
Total liabilities | 1,059,364 | ||||
Total identifiable net assets | 1,588,079 | ||||
Noncontrolling interests | (14,367) | ||||
Goodwill | 172,346 | ||||
$ | 1,746,058 |
W. P. Carey 2022 10-K– 71 |
Years Ended December 31, | |||||||||||
2022 | 2021 | ||||||||||
Pro forma total revenues | $ | 1,590,233 | $ | 1,509,828 |
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 |
W. P. Carey |
Years Ended December 31, | |||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||
Distributions of Available Cash (a) | $ | 8,746 | $ | 7,345 | $ | 7,225 | |||||||||||
Asset management revenue (b) | 8,467 | 15,363 | 21,973 | ||||||||||||||
Reimbursable costs from affiliates (b) | 2,518 | 4,035 | 8,855 | ||||||||||||||
Interest income on deferred acquisition fees and loans to affiliates (c) | 112 | 120 | 369 | ||||||||||||||
Structuring and other advisory revenue (b) | — | — | 494 | ||||||||||||||
$ | 19,843 | $ | 26,863 | $ | 38,916 |
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, | 2022 | 2021 | 2020 | |||||||||||||||||||||||||
2019 | 2018 | 2017 | ||||||||||||||||||||||||||
CPA:17 – Global (d) | $ | — | $ | 58,788 | $ | 75,188 | ||||||||||||||||||||||
CPA:18 – Global | 26,039 | 44,969 | 28,683 | CPA:18 – Global | $ | 17,854 | $ | 22,867 | $ | 22,200 | ||||||||||||||||||
CWI 1 | 30,770 | 28,243 | 33,691 | CWI 1 | — | — | 5,662 | |||||||||||||||||||||
CWI 2 | 21,584 | 20,283 | 50,189 | CWI 2 | — | — | 4,668 | |||||||||||||||||||||
CCIF | — | — | 12,787 | |||||||||||||||||||||||||
CESH | 5,236 | 2,988 | 10,521 | CESH | 1,989 | 3,713 | 4,723 | |||||||||||||||||||||
WLT (reimbursed transition services) | WLT (reimbursed transition services) | — | 283 | 1,663 | ||||||||||||||||||||||||
$ | 83,629 | $ | 155,271 | $ | 211,059 | $ | 19,843 | $ | 26,863 | $ | 38,916 |
(a)Included within Earnings (losses) from equity method investments in the consolidated statements of income. (b)Amounts represent revenues from contracts under ASC 606. (c)Included within Non-operating income in the consolidated statements of income. |
December 31, | |||||||||||
2022 | 2021 | ||||||||||
Asset management fees receivable | $ | 386 | $ | 494 | |||||||
Accounts receivable | 329 | 336 | |||||||||
Reimbursable costs | 204 | 974 | |||||||||
Current acquisition fees receivable | — | 19 | |||||||||
Deferred acquisition fees receivable, including accrued interest | — | 3 | |||||||||
$ | 919 | $ | 1,826 |
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 2022 10-K– 73 |
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 50% in cash and 50% in shares of its Class A common stock for | Rate | |||||||||||||||||
In cash | Based on gross assets at fair value |
W. P. Carey 2022 10-K– 74 |
W. P. Carey 2022 10-K– 75 |
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 |
December 31, | |||||||||||
2022 | 2021 | ||||||||||
Land | $ | 2,400,002 | $ | 2,151,327 | |||||||
Buildings and improvements | 10,916,630 | 9,525,858 | |||||||||
Real estate under construction | 22,225 | 114,549 | |||||||||
Less: Accumulated depreciation | (1,672,091) | (1,448,020) | |||||||||
$ | 11,666,766 | $ | 10,343,714 |
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 |
W. P. Carey 2022 10-K– 76 |
Property Location(s) | Number of Properties | Date of Acquisition | Property Type | Total Capitalized Costs (a) | ||||||||||||||||||||||
Pleasant Prairie, Wisconsin | 1 | 1/10/2022 | Industrial | $ | 20,024 | |||||||||||||||||||||
Various, Spain (a) | 26 | 2/3/2022 | Funeral Home | 146,364 | ||||||||||||||||||||||
Various, Denmark (a) (b) | 8 | 2/11/2022 | Retail | 33,976 | ||||||||||||||||||||||
Laval, Canada (a) | 1 | 2/18/2022 | Industrial | 21,459 | ||||||||||||||||||||||
Chattanooga, Tennessee (c) | 1 | 3/4/2022 | Warehouse | 43,198 | ||||||||||||||||||||||
Various, United States (4 properties), Canada (1 property), and Mexico (1 property) | 6 | 4/27/2022; 5/9/2022 | Industrial | 80,595 | ||||||||||||||||||||||
Various, United States | 6 | 5/16/2022 | Industrial; Warehouse | 110,381 | ||||||||||||||||||||||
Various, Denmark (a) (b) | 10 | 6/1/2022; 6/30/2022 | Retail | 42,635 | ||||||||||||||||||||||
Medina, Ohio | 1 | 6/17/2022 | Industrial | 28,913 | ||||||||||||||||||||||
Bree, Belgium (a) | 1 | 6/30/2022 | Warehouse | 96,697 | ||||||||||||||||||||||
Various, Spain (a) | 5 | 7/21/2022 | Retail | 19,894 | ||||||||||||||||||||||
Various, United States | 18 | 7/26/2022 | Industrial; Warehouse | 262,061 | ||||||||||||||||||||||
Various, Denmark (a) (b) | 8 | 8/1/2022; 9/28/2022 | Retail | 29,644 | ||||||||||||||||||||||
Westlake, Ohio | 1 | 8/3/2022 | Warehouse | 29,517 | ||||||||||||||||||||||
Hebron and Strongsville, Ohio; and Scarborough, Canada | 3 | 8/10/2022 | Industrial; Warehouse | 20,111 | ||||||||||||||||||||||
Clifton Park, New York and West Des Moines, Iowa | 2 | 8/12/2022 | Specialty | 23,317 | ||||||||||||||||||||||
Orzinuovi, Italy (a) | 1 | 8/26/2022 | Industrial | 14,033 | ||||||||||||||||||||||
West Chester, Pennsylvania | 1 | 10/1/2022 | Outdoor Advertising | 1,863 | ||||||||||||||||||||||
Various, Denmark (a) (b) | 4 | 11/30/2022 | Retail | 15,553 | ||||||||||||||||||||||
Various, United States | 19 | 12/21/2022 | Industrial | 63,006 | ||||||||||||||||||||||
Romulus, Michigan | 1 | 12/30/2022 | Warehouse | 36,569 | ||||||||||||||||||||||
Salisbury, North Carolina (d) | 1 | 12/30/2022 | Industrial | 16,412 | ||||||||||||||||||||||
125 | $ | 1,156,222 |
W. P. Carey 2022 10-K– 77 |
Total Capitalized Costs | |||||
Land | $ | 145,078 | |||
Buildings and improvements | 852,991 | ||||
Intangible assets and liabilities: | |||||
In-place lease (weighted-average expected life of 20.6 years) | 152,889 | ||||
Below-market rent (weighted-average expected life of 10.9 years) | (7,023) | ||||
ROU assets: | |||||
Prepaid rent (a) | 12,287 | ||||
$ | 1,156,222 |
Property Location(s) | Primary Transaction Type | Number of Properties | Date of Completion | Property Type | Total Capitalized Costs (a) | |||||||||||||||||||||||||||
Hurricane, Utah | Expansion | 1 | 3/8/2022 | Warehouse | $ | 20,517 | ||||||||||||||||||||||||||
Breda, Netherlands (a) | Expansion | 1 | 3/18/2022 | Warehouse | 4,721 | |||||||||||||||||||||||||||
Bowling Green, Kentucky | Renovation | 1 | 4/26/2022 | Warehouse | 72,971 | |||||||||||||||||||||||||||
Wageningen, Netherlands (a) | Build-to-Suit | 1 | 7/7/2022 | Research and Development | 26,054 | |||||||||||||||||||||||||||
Radomsko, Poland (a) | Expansion | 1 | 8/1/2022 | Industrial | 23,042 | |||||||||||||||||||||||||||
Flemington, New Jersey | Build-to-Suit | 1 | 10/1/2022 | Outdoor Advertising | 832 | |||||||||||||||||||||||||||
6 | $ | 148,137 |
W. P. Carey 2022 10-K– 78 |
Years Ended December 31, | ||||||||||||||||||||
Year Ended December 31, 2019 | 2022 | 2021 | 2020 | |||||||||||||||||
Lease income — fixed | $ | 898,111 | Lease income — fixed | $ | 1,160,942 | $ | 1,066,250 | $ | 981,430 | |||||||||||
Lease income — variable (a) | 89,873 | Lease income — variable (a) | 140,675 | 111,188 | 99,193 | |||||||||||||||
Total operating lease income | $ | 987,984 | $ | 1,301,617 | $ | 1,177,438 | $ | 1,080,623 |
W. P. Carey 2022 10-K– 79 |
Years Ending December 31, | Total | |||||||
2023 | $ | 1,285,481 | ||||||
2024 | 1,233,058 | |||||||
2025 | 1,179,250 | |||||||
2026 | 1,127,974 | |||||||
2027 | 1,064,061 | |||||||
Thereafter | 9,481,009 | |||||||
Total | $ | 15,370,833 |
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, | |||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||
Fixed lease cost | $ | 15,087 | $ | 16,426 | $ | 17,616 | |||||||||||
Variable lease cost | 1,086 | 1,149 | 1,089 | ||||||||||||||
Total lease cost | $ | 16,173 | $ | 17,575 | $ | 18,705 |
Year Ended December 31, 2019 | |||
Fixed lease cost | $ | 14,503 | |
Variable lease cost | 1,186 | ||
Total lease cost | $ | 15,689 |
December 31, | |||||||||||||||||
Location on Consolidated Balance Sheets | 2022 | 2021 | |||||||||||||||
Operating ROU assets — land leases | In-place lease intangible assets and other | $ | 123,834 | $ | 106,095 | ||||||||||||
Finance ROU assets — land leases | In-place lease intangible assets and other | 12,598 | — | ||||||||||||||
Operating ROU assets — office leases | Other assets, net | 56,674 | 59,902 | ||||||||||||||
Total operating ROU assets | $ | 193,106 | $ | 165,997 | |||||||||||||
Operating lease liabilities | Accounts payable, accrued expenses and other liabilities | $ | 146,302 | $ | 146,437 | ||||||||||||
Weighted-average remaining lease term — operating leases | 25.8 years | 26.1 years | |||||||||||||||
Weighted-average discount rate — operating leases | 6.8 | % | 6.8 | % | |||||||||||||
Number of land lease arrangements — operating leases | 72 | 66 | |||||||||||||||
Number of land lease arrangements — finance leases | 1 | — | |||||||||||||||
Number of office space arrangements | 4 | 4 | |||||||||||||||
Lease term range (excluding extension options not reasonably certain of being exercised) | <1 – 99 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 |
W. P. Carey 2022 10-K– 80 |
Years Ending December 31, | Total | |||||||
2023 | $ | 14,486 | ||||||
2024 | 13,856 | |||||||
2025 | 13,851 | |||||||
2026 | 13,721 | |||||||
2027 | 13,911 | |||||||
Thereafter | 269,848 | |||||||
Total lease payments | 339,673 | |||||||
Less: amount of lease payments representing interest | (193,371) | |||||||
Present value of future lease payments/lease obligations | $ | 146,302 |
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 |
December 31, | |||||||||||
2022 | 2021 | ||||||||||
Land | $ | 122,317 | $ | 10,452 | |||||||
Buildings and improvements | 955,009 | 73,221 | |||||||||
Real estate under construction | 18,566 | — | |||||||||
Less: Accumulated depreciation | (28,295) | (16,750) | |||||||||
$ | 1,067,597 | $ | 66,923 |
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 |
W. P. Carey 2022 10-K– 81 |
December 31, | |||||||||||
2022 | 2021 | ||||||||||
Land, buildings and improvements — net lease and other | $ | 47,134 | $ | 10,628 | |||||||
In-place lease intangible assets and other | 10,854 | — | |||||||||
Above-market rent intangible assets | 3,210 | — | |||||||||
Accumulated depreciation and amortization | (3,254) | (2,359) | |||||||||
Assets held for sale, net | $ | 57,944 | $ | 8,269 |
December 31, | |||||||
2019 | 2018 | ||||||
Land, buildings and improvements | $ | 105,573 | $ | — | |||
Accumulated depreciation and amortization | (1,563 | ) | — | ||||
Assets held for sale, net | $ | 104,010 | $ | — |
Maturity Date | December 31, | ||||||||||||||||
2022 | 2021 | ||||||||||||||||
Net investments in direct financing leases (a) | 2023 – 2036 | $ | 498,313 | $ | 572,205 | ||||||||||||
Sale-leaseback transactions accounted for as loans receivable (b) | 2038 – 2052 | 234,198 | 217,229 | ||||||||||||||
Secured loans receivable (a) | 2023 – 2024 | 39,250 | 24,143 | ||||||||||||||
$ | 771,761 | $ | 813,577 |
W. P. Carey 2022 10-K– 82 |
December 31, | |||||||||||
2022 | 2021 | ||||||||||
Lease payments receivable | $ | 332,618 | $ | 414,002 | |||||||
Unguaranteed residual value | 470,839 | 545,896 | |||||||||
803,457 | 959,898 | ||||||||||
Less: unearned income | (296,411) | (370,353) | |||||||||
Less: allowance for credit losses (a) | (8,733) | (17,340) | |||||||||
$ | 498,313 | $ | 572,205 |
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 |
Years Ending December 31, | Total | Years Ending December 31, | Total | |||||||||
2020 | $ | 86,334 | ||||||||||
2021 | 85,061 | |||||||||||
2022 | 75,865 | |||||||||||
2023 | 69,406 | 2023 | 50,273 | |||||||||
2024 | 64,636 | 2024 | 48,146 | |||||||||
2025 | 2025 | 43,897 | ||||||||||
2026 | 2026 | 42,578 | ||||||||||
2027 | 2027 | 41,370 | ||||||||||
Thereafter | 304,847 | Thereafter | 106,354 | |||||||||
Total | $ | 686,149 | Total | $ | 332,618 |
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 2022 10-K– 83 |
Property Location(s) | Number of Properties | Date of Acquisition | Property Type | Total Investment | ||||||||||||||||||||||
Various, Belgium (a) | 5 | 6/22/2022 | Retail | $ | 19,795 | |||||||||||||||||||||
5 | $ | 19,795 |
Number of Tenants / Obligors at December 31, | Carrying Value at December 31, | |||||||||||||||||||||||||
Internal Credit Quality Indicator | 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||||
1 – 3 | 19 | 17 | $ | 664,761 | $ | 703,280 | ||||||||||||||||||||
4 | 8 | 9 | 117,833 | 140,230 | ||||||||||||||||||||||
5 | — | — | — | — | ||||||||||||||||||||||
$ | 782,594 | $ | 843,510 |
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 |
Weighted-Average Life | Amount | ||||||||||
Finite-Lived Intangible Assets | |||||||||||
In-place lease | 7.4 | $ | 199,913 | ||||||||
Above-market rent | 11.9 | 61,090 | |||||||||
$ | 261,003 | ||||||||||
Finite-Lived Intangible Liabilities | |||||||||||
Below-market rent | 8.5 | $ | (16,836) |
Real Estate | Investment Management | Total | |||||||||||||||
Balance at January 1, 2020 | $ | 871,081 | $ | 63,607 | $ | 934,688 | |||||||||||
Foreign currency translation adjustments | 10,403 | — | 10,403 | ||||||||||||||
— | (34,273) | (34,273) | |||||||||||||||
Balance at December 31, 2020 | 881,484 | 29,334 | 910,818 | ||||||||||||||
Foreign currency translation adjustments | (9,289) | — | (9,289) | ||||||||||||||
Balance at December 31, 2021 | 872,195 | 29,334 | 901,529 | ||||||||||||||
172,346 | — | 172,346 | |||||||||||||||
Foreign currency translation adjustments | (7,129) | — | (7,129) | ||||||||||||||
— | (29,334) | (29,334) | |||||||||||||||
Balance at December 31, 2022 | $ | 1,037,412 | $ | — | $ | 1,037,412 |
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 2022 10-K– 85 |
December 31, | |||||||||||||||||||||||||||||||||||
2022 | 2021 | ||||||||||||||||||||||||||||||||||
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 | $ | 19,812 | $ | (19,144) | $ | 668 | $ | 19,553 | $ | (18,682) | $ | 871 | |||||||||||||||||||||||
Trade name | — | — | — | 3,975 | (3,581) | 394 | |||||||||||||||||||||||||||||
19,812 | (19,144) | 668 | 23,528 | (22,263) | 1,265 | ||||||||||||||||||||||||||||||
Lease Intangibles: | |||||||||||||||||||||||||||||||||||
In-place lease | 2,523,318 | (1,061,235) | 1,462,083 | 2,279,905 | (934,663) | 1,345,242 | |||||||||||||||||||||||||||||
Above-market rent | 833,751 | (507,436) | 326,315 | 843,410 | (489,861) | 353,549 | |||||||||||||||||||||||||||||
3,357,069 | (1,568,671) | 1,788,398 | 3,123,315 | (1,424,524) | 1,698,791 | ||||||||||||||||||||||||||||||
Goodwill | |||||||||||||||||||||||||||||||||||
Goodwill | 1,037,412 | — | 1,037,412 | 901,529 | — | 901,529 | |||||||||||||||||||||||||||||
Total intangible assets | $ | 4,414,293 | $ | (1,587,815) | $ | 2,826,478 | $ | 4,048,372 | $ | (1,446,787) | $ | 2,601,585 | |||||||||||||||||||||||
Finite-Lived Intangible Liabilities | |||||||||||||||||||||||||||||||||||
Below-market rent | $ | (293,160) | $ | 125,287 | $ | (167,873) | $ | (272,483) | $ | 105,908 | $ | (166,575) | |||||||||||||||||||||||
Indefinite-Lived Intangible Liabilities | |||||||||||||||||||||||||||||||||||
Below-market purchase option | (16,711) | — | (16,711) | (16,711) | — | (16,711) | |||||||||||||||||||||||||||||
Total intangible liabilities | $ | (309,871) | $ | 125,287 | $ | (184,584) | $ | (289,194) | $ | 105,908 | $ | (183,286) |
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 | |||||||||||||||||
2023 | $ | 34,878 | $ | 213,525 | $ | 248,403 | ||||||||||||||
2024 | 30,783 | 158,641 | 189,424 | |||||||||||||||||
2025 | 27,047 | 144,395 | 171,442 | |||||||||||||||||
2026 | 21,196 | 128,578 | 149,774 | |||||||||||||||||
2027 | 17,100 | 115,105 | 132,205 | |||||||||||||||||
Thereafter | 27,438 | 702,507 | 729,945 | |||||||||||||||||
Total | $ | 158,442 | $ | 1,462,751 | $ | 1,621,193 |
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 |
% 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 | 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||||
CPA:18 – Global (a) | 100.000 | % | 5.578 | % | $ | — | $ | 60,836 | ||||||||||||||||||
CPA:18 – Global operating partnership | 100.000 | % | 0.034 | % | — | 209 | ||||||||||||||||||||
CESH (b) | 2.430 | % | 2.430 | % | 2,225 | 3,689 | ||||||||||||||||||||
$ | 2,225 | $ | 64,734 |
W. P. Carey |
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, | |||||||||||
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/Fund/Description | Co-owner | December 31, 2022 | 2022 | 2021 | ||||||||||||||||||||||
Existing Equity Method Investments | ||||||||||||||||||||||||||
Las Vegas Retail Complex (a) | Third Party | N/A | $ | 196,352 | $ | 104,114 | ||||||||||||||||||||
Johnson Self Storage | Third Party | 90% | 65,707 | 67,573 | ||||||||||||||||||||||
Kesko Senukai (b) | Third Party | 70% | 38,569 | 41,955 | ||||||||||||||||||||||
Harmon Retail Corner (c) | Third Party | 15% | 24,649 | 24,435 | ||||||||||||||||||||||
WLT (d) | WLT | N/A | — | 33,392 | ||||||||||||||||||||||
Equity Method Investments Consolidated After the CPA:18 Merger (e) | ||||||||||||||||||||||||||
State Farm Mutual Automobile Insurance Co. | CPA:18 – Global | 100% | — | 7,129 | ||||||||||||||||||||||
Apply Sørco AS (f) | CPA:18 – Global | N/A | — | 5,909 | ||||||||||||||||||||||
Bank Pekao (b) (g) | CPA:18 – Global | 100% | — | 4,460 | ||||||||||||||||||||||
Fortenova Grupa d.d. (b) | CPA:18 – Global | 100% | — | 2,936 | ||||||||||||||||||||||
$ | 325,277 | $ | 291,903 |
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 |
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, | |||||||||||
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 2022 10-K– 88 |
W. P. Carey 2022 10-K– 89 |
December 31, 2019 | December 31, 2018 | December 31, 2022 | December 31, 2021 | |||||||||||||||||||||||||||||||||||||||||||
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 and 3 | $ | 5,916,400 | $ | 5,238,588 | $ | 5,701,913 | $ | 5,984,228 | |||||||||||||||||||||||||||
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 | 1,132,417 | 1,109,449 | 368,524 | 369,841 |
W. P. Carey |
(b)The carrying value of Senior Unsecured Notes, net includes unamortized discount of $24.1 million and $29.2 million at December 31, 2022 and 2021, respectively. The carrying value of Non-recourse mortgages, net includes unamortized discount of $10.3 million and $0.8 million at December 31, 2022 and 2021, respectively. (c)For those Senior Unsecured Notes for which there are no observable market prices (specifically, our private placement Senior Unsecured Notes (Note 11)), we used a discounted cash flow model that estimates the present value of future loan payments by discounting such payments at current estimated market interest rates. We consider these notes to be within the Level 3 category. For all other Senior Unsecured Notes, we determined the estimated fair value using observed market prices in an open market, which may experience limited trading volume. We consider these notes to be within the Level 2 category. (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, | |||||||||||||||||||||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||||||||||||||||||||
Fair Value Measurements | Impairment Charges | Fair Value Measurements | Impairment Charges | Fair Value Measurements | Impairment Charges | ||||||||||||||||||||||||||||||
Impairment Charges | |||||||||||||||||||||||||||||||||||
Real estate and intangibles | $ | 32,497 | $ | 39,119 | $ | 29,494 | $ | 24,246 | $ | 31,350 | $ | 35,830 | |||||||||||||||||||||||
Investment Management goodwill | — | 29,334 | — | — | — | — | |||||||||||||||||||||||||||||
Equity method investments | — | — | 8,175 | 6,830 | 55,245 | 55,387 | |||||||||||||||||||||||||||||
$ | 68,453 | $ | 31,076 | $ | 91,217 |
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 2022 10-K– 91 |
W. P. Carey 2022 10-K– 92 |
W. P. Carey 2022 10-K– 93 |
Derivatives Designated as Hedging Instruments | Balance Sheet Location | Asset Derivatives Fair Value at | Liability Derivatives Fair Value at | 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 | December 31, 2022 | December 31, 2021 | December 31, 2022 | December 31, 2021 | |||||||||||||||||||||||||||||||||||||||||||
Foreign currency collars | Other assets, net | $ | 14,460 | $ | 8,536 | $ | — | $ | — | Foreign currency collars | Other assets, net | $ | 32,631 | $ | 19,484 | $ | — | $ | — | |||||||||||||||||||||||||||||||
Foreign currency forward contracts | Other assets, net | 9,689 | 22,520 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Interest rate swaps (a) | Interest rate swaps (a) | Other assets, net | 2,679 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Interest rate caps | Other assets, net | 1 | 56 | — | — | Interest rate caps | Other assets, net | 14 | 1 | — | — | |||||||||||||||||||||||||||||||||||||||
Foreign currency collars | Foreign currency collars | Accounts payable, accrued expenses and other liabilities | — | — | (1,445) | (1,311) | ||||||||||||||||||||||||||||||||||||||||||||
Interest rate swaps | Other assets, net | — | 1,435 | — | — | Interest rate swaps | Accounts payable, accrued expenses and other liabilities | — | — | — | (908) | |||||||||||||||||||||||||||||||||||||||
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 | ) | 35,324 | 19,485 | (1,445) | (2,219) | |||||||||||||||||||||||||||||||||||||||||
Derivatives Not Designated as Hedging Instruments | Derivatives Not Designated as Hedging Instruments | |||||||||||||||||||||||||||||||||||||||||||||||||
Stock warrants | Other assets, net | 5,000 | 5,500 | — | — | Stock warrants | Other assets, net | 3,950 | 4,600 | — | — | |||||||||||||||||||||||||||||||||||||||
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 | ) | |||||||||||||||||||||||||||||||||||||||||||
Foreign currency collars | Foreign currency collars | Accounts payable, accrued expenses and other liabilities | — | — | (248) | — | ||||||||||||||||||||||||||||||||||||||||||||
5,008 | 12,644 | (93 | ) | (343 | ) | 3,950 | 4,600 | (248) | — | |||||||||||||||||||||||||||||||||||||||||
Total derivatives | $ | 29,158 | $ | 45,191 | $ | (6,174 | ) | $ | (5,409 | ) | Total derivatives | $ | 39,274 | $ | 24,085 | $ | (1,693) | $ | (2,219) |
Amount of Gain (Loss) Recognized on Derivatives in Other Comprehensive (Loss) Income (a) | ||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||
Derivatives in Cash Flow Hedging Relationships | 2022 | 2021 | 2020 | |||||||||||||||||
Foreign currency collars | $ | 13,013 | $ | 29,805 | $ | (24,818) | ||||||||||||||
Interest rate swaps | 3,068 | 4,198 | (1,553) | |||||||||||||||||
Interest rate caps | 16 | 6 | 6 | |||||||||||||||||
Foreign currency forward contracts | — | — | (5,272) | |||||||||||||||||
Derivatives in Net Investment Hedging Relationships (b) | ||||||||||||||||||||
Foreign currency collars | — | — | 9 | |||||||||||||||||
Total | $ | 16,097 | $ | 34,009 | $ | (31,628) |
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 | 2022 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||
$ | 5,997 | $ | 9,029 | $ | (19,220 | ) | Foreign currency collars | Non-operating income | $ | 17,483 | $ | 854 | $ | 4,956 | ||||||||||||||||||||||||
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 | — | — | |||||||||||||||||||||||||||||||||||
Interest rate swaps and caps (c) | Interest rate swaps and caps (c) | Interest expense | (167) | (932) | (1,818) | |||||||||||||||||||||||||||||||||
Foreign currency forward contracts | 7 | (2,630 | ) | (5,652 | ) | Foreign currency forward contracts | Non-operating income | — | — | 5,716 | ||||||||||||||||||||||||||||
Total | $ | 314 | $ | 2,866 | $ | (42,471 | ) | Total | $ | 17,316 | $ | (78) | $ | 8,854 |
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 in Cash Flow Hedging Relationships | Location of Gain (Loss) Recognized in Income | Years Ended December 31, | ||||||||||||||||||||||||
2022 | 2021 | 2020 | ||||||||||||||||||||||||
Foreign currency collars | Non-operating income | $ | 6,574 | $ | 1,503 | $ | (2,477) | |||||||||||||||||||
Interest rate swaps | Interest expense | 171 | 1,592 | 2,132 | ||||||||||||||||||||||
Foreign currency forward contracts | Non-operating income | — | — | (43) | ||||||||||||||||||||||
Derivatives Not in Cash Flow Hedging Relationships | ||||||||||||||||||||||||||
Stock warrants | Other gains and (losses) | (650) | (1,200) | 800 | ||||||||||||||||||||||
Foreign currency collars | Other gains and (losses) | (248) | — | — | ||||||||||||||||||||||
Interest rate swaps | Other gains and (losses) | — | — | 106 | ||||||||||||||||||||||
Total | $ | 5,847 | $ | 1,895 | $ | 518 |
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 | ) |
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, 2022 (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 | 34,918 | USD | $ | 1,399 | |||||||||||||||||||||
Interest rate swaps | 2 | 49,655 | EUR | (1,372 | ) | Interest rate swaps | 2 | 45,970 | EUR | 1,280 | |||||||||||||||||||||||
Interest rate cap | 1 | 11,388 | EUR | 1 | Interest rate cap | 1 | 10,452 | EUR | 14 | ||||||||||||||||||||||||
Interest rate cap | 1 | 6,394 | GBP | — | |||||||||||||||||||||||||||||
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 | ) | $ | 2,693 |
W. P. Carey 2022 10-K– 95 |
Foreign Currency Derivatives | Number of Instruments | Notional Amount | Fair Value at December 31, 2022 | ||||||||||||||||||||
Designated as Cash Flow Hedging Instruments | |||||||||||||||||||||||
Foreign currency collars | 75 | 295,400 | EUR | $ | 25,578 | ||||||||||||||||||
Foreign currency collars | 69 | 44,520 | GBP | 5,608 | |||||||||||||||||||
Not Designated as Cash Flow Hedging Instruments | |||||||||||||||||||||||
Foreign currency collars | 4 | 29,500 | EUR | (248) | |||||||||||||||||||
$ | 30,938 |
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 |
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, 2022 (a) | Maturity Date at December 31, 2022 | Principal Outstanding Balance at December 31, | ||||||||||||||||||||||||
Senior Unsecured Credit Facility | 2022 | 2021 | ||||||||||||||||||||||||
Unsecured Term Loans: | ||||||||||||||||||||||||||
Term Loan — borrowing in British pounds sterling (b) (c) (d) | SONIA + 0.85% | 2/20/2025 | $ | 324,695 | $ | 202,183 | ||||||||||||||||||||
Delayed Draw Term Loan — borrowing in euros (e) | EURIBOR + 0.85% | 2/20/2025 | 229,319 | 109,296 | ||||||||||||||||||||||
554,014 | 311,479 | |||||||||||||||||||||||||
Unsecured Revolving Credit Facility: | ||||||||||||||||||||||||||
Borrowing in euros (e) | EURIBOR + 0.775% | 2/20/2025 | 258,117 | 205,001 | ||||||||||||||||||||||
Borrowing in Japanese yen (f) | TIBOR + 0.775% | 2/20/2025 | 18,275 | 20,935 | ||||||||||||||||||||||
Borrowing in British pounds sterling | N/A | 2/20/2025 | — | 184,660 | ||||||||||||||||||||||
276,392 | 410,596 | |||||||||||||||||||||||||
$ | 830,406 | $ | 722,075 |
Principal Amount | Coupon Rate | Maturity Date | Principal Outstanding Balance at December 31, | |||||||||||||||||||||||||||||||||||
Senior Unsecured Notes, net (a) | Issue Date | 2022 | 2021 | |||||||||||||||||||||||||||||||||||
4.6% Senior Notes due 2024 | 3/14/2014 | $ | 500,000 | 4.6 | % | 4/1/2024 | $ | 500,000 | $ | 500,000 | ||||||||||||||||||||||||||||
2.25% Senior Notes due 2024 | 1/19/2017 | € | 500,000 | 2.25 | % | 7/19/2024 | 533,300 | 566,300 | ||||||||||||||||||||||||||||||
4.0% Senior Notes due 2025 | 1/26/2015 | $ | 450,000 | 4.0 | % | 2/1/2025 | 450,000 | 450,000 | ||||||||||||||||||||||||||||||
2.250% Senior Notes due 2026 | 10/9/2018 | € | 500,000 | 2.250 | % | 4/9/2026 | 533,300 | 566,300 | ||||||||||||||||||||||||||||||
4.25% Senior Notes due 2026 | 9/12/2016 | $ | 350,000 | 4.25 | % | 10/1/2026 | 350,000 | 350,000 | ||||||||||||||||||||||||||||||
2.125% Senior Notes due 2027 | 3/6/2018 | € | 500,000 | 2.125 | % | 4/15/2027 | 533,300 | 566,300 | ||||||||||||||||||||||||||||||
1.350% Senior Notes due 2028 | 9/19/2019 | € | 500,000 | 1.350 | % | 4/15/2028 | 533,300 | 566,300 | ||||||||||||||||||||||||||||||
3.850% Senior Notes due 2029 | 6/14/2019 | $ | 325,000 | 3.850 | % | 7/15/2029 | 325,000 | 325,000 | ||||||||||||||||||||||||||||||
3.41% Senior Notes due 2029 | 9/28/2022 | € | 150,000 | 3.41 | % | 9/28/2029 | 159,990 | — | ||||||||||||||||||||||||||||||
0.950% Senior Notes due 2030 | 3/8/2021 | € | 525,000 | 0.950 | % | 6/1/2030 | 559,965 | 594,615 | ||||||||||||||||||||||||||||||
2.400% Senior Notes due 2031 | 10/14/2020 | $ | 500,000 | 2.400 | % | 2/1/2031 | 500,000 | 500,000 | ||||||||||||||||||||||||||||||
2.450% Senior Notes due 2032 | 10/15/2021 | $ | 350,000 | 2.450 | % | 2/1/2032 | 350,000 | 350,000 | ||||||||||||||||||||||||||||||
3.70% Senior Notes due 2032 | 9/28/2022 | € | 200,000 | 3.70 | % | 9/28/2032 | 213,320 | — | ||||||||||||||||||||||||||||||
2.250% Senior Notes due 2033 | 2/25/2021 | $ | 425,000 | 2.250 | % | 4/1/2033 | 425,000 | 425,000 | ||||||||||||||||||||||||||||||
$ | 5,966,475 | $ | 5,759,815 |
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 |
W. P. Carey 2022 10-K– 98 |
W. P. Carey 2022 10-K– 99 |
Years Ending December 31, | Total | |||||||
2023 | $ | 456,708 | ||||||
2024 | 1,231,468 | |||||||
2025 | 1,664,276 | |||||||
2026 | 983,425 | |||||||
2027 | 533,760 | |||||||
Thereafter through 2039 | 3,070,039 | |||||||
Total principal payments | 7,939,676 | |||||||
Unamortized discount, net | (35,936) | |||||||
Unamortized deferred financing costs | (25,992) | |||||||
Total | $ | 7,877,748 |
Years Ending December 31, | Total (a) | |||
2020 | $ | 164,682 | ||
2021 | 445,469 | |||
2022 | 460,385 | |||
2023 | 900,288 | |||
2024 | 1,184,007 | |||
Thereafter through 2031 | 2,949,186 | |||
Total principal payments | 6,104,017 | |||
Unamortized discount, net (b) | (26,679 | ) | ||
Unamortized deferred financing costs | (23,395 | ) | ||
Total | $ | 6,053,943 |
Dividends Paid | |||||||||||||||||
During the Years Ended December 31, | |||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||
Ordinary income | $ | 4.0329 | $ | 3.3300 | $ | 3.3112 | |||||||||||
Return of capital | 0.1718 | 0.5407 | — | ||||||||||||||
Capital gains | 0.0273 | 0.3253 | 0.8528 | ||||||||||||||
Total dividends paid | $ | 4.2320 | $ | 4.1960 | $ | 4.1640 |
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 |
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, | |||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||
Net income – basic and diluted | $ | 599,139 | $ | 409,988 | $ | 455,359 | |||||||||||
Weighted-average shares outstanding – basic | 199,633,802 | 182,486,476 | 174,504,406 | ||||||||||||||
Effect of dilutive securities | 793,322 | 640,622 | 335,022 | ||||||||||||||
Weighted-average shares outstanding – diluted | 200,427,124 | 183,127,098 | 174,839,428 |
Years Ended December 31, | |||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||
Shares of common stock issued | 2,740,295 | 4,690,073 | 2,500 | ||||||||||||||
Weighted-average price per share | $ | 80.79 | $ | 73.42 | $ | 72.05 | |||||||||||
Net proceeds | $ | 218,081 | $ | 339,968 | $ | 159 |
W. P. Carey |
Agreement Date (a) | Shares Offered (b) | Gross Offering Price | Gross Offering Proceeds at Closing | Outstanding Shares as of December 31, 2022 | |||||||||||||||||||||||||
June 2020 Equity Forwards (c) | 6/17/2020 | 5,462,500 | $ | 70.00 | $ | 382,375 | — | ||||||||||||||||||||||
June 2021 Equity Forwards (c) | 6/7/2021 | 6,037,500 | 75.30 | 454,624 | — | ||||||||||||||||||||||||
August 2021 Equity Forwards (d) | 8/9/2021 | 5,175,000 | 78.00 | 403,650 | — | ||||||||||||||||||||||||
ATM Forwards (e) | 5/2/2022 | 6,524,437 | 84.09 | 548,626 | 6,524,437 | ||||||||||||||||||||||||
6,524,437 |
Years Ended December 31, | |||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||
Shares of common stock delivered | 3,925,000 | 9,798,209 | 2,951,791 | ||||||||||||||
Net proceeds | $ | 284,259 | $ | 697,044 | $ | 199,716 |
W. P. Carey |
Gains and (Losses) on Derivative Instruments | Foreign Currency Translation Adjustments | Gains and (Losses) on Investments | Total | ||||||||||||||||||||
Balance at January 1, 2020 | $ | 13,048 | $ | (268,715) | $ | — | $ | (255,667) | |||||||||||||||
Other comprehensive income before reclassifications | (23,124) | 47,746 | — | 24,622 | |||||||||||||||||||
Amounts reclassified from accumulated other comprehensive loss to: | |||||||||||||||||||||||
Non-operating income | (10,672) | — | — | (10,672) | |||||||||||||||||||
Interest expense | 1,818 | — | — | 1,818 | |||||||||||||||||||
Total | (8,854) | — | — | (8,854) | |||||||||||||||||||
Net current period other comprehensive income | (31,978) | 47,746 | — | 15,768 | |||||||||||||||||||
Net current period other comprehensive income attributable to noncontrolling interests | (7) | — | — | (7) | |||||||||||||||||||
Balance at December 31, 2020 | (18,937) | (220,969) | — | (239,906) | |||||||||||||||||||
Other comprehensive income before reclassifications | 35,227 | (35,736) | 18,688 | 18,179 | |||||||||||||||||||
Amounts reclassified from accumulated other comprehensive loss to: | |||||||||||||||||||||||
Interest expense | 932 | — | — | 932 | |||||||||||||||||||
Non-operating income | (854) | — | — | (854) | |||||||||||||||||||
Total | 78 | — | — | 78 | |||||||||||||||||||
Net current period other comprehensive income | 35,305 | (35,736) | 18,688 | 18,257 | |||||||||||||||||||
Net current period other comprehensive income attributable to noncontrolling interests | (21) | — | — | (21) | |||||||||||||||||||
Balance at December 31, 2021 | 16,347 | (256,705) | 18,688 | (221,670) | |||||||||||||||||||
Other comprehensive loss before reclassifications | 37,048 | (63,149) | — | (26,101) | |||||||||||||||||||
Amounts reclassified from accumulated other comprehensive loss to: | |||||||||||||||||||||||
Non-operating income | (17,483) | — | — | (17,483) | |||||||||||||||||||
Interest expense | 167 | — | — | 167 | |||||||||||||||||||
— | — | (18,688) | (18,688) | ||||||||||||||||||||
Total | (17,316) | — | (18,688) | (36,004) | |||||||||||||||||||
Net current period other comprehensive loss | 19,732 | (63,149) | (18,688) | (62,105) | |||||||||||||||||||
Net current period other comprehensive income attributable to noncontrolling interests | — | (5) | — | (5) | |||||||||||||||||||
Balance at December 31, 2022 | $ | 36,079 | $ | (319,859) | $ | — | $ | (283,780) |
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 |
RSA and RSU Awards | PSU Awards | ||||||||||||||||||||||
Shares | Weighted-Average Grant Date Fair Value | Shares | Weighted-Average Grant Date Fair Value | ||||||||||||||||||||
Nonvested at January 1, 2020 | 283,977 | $ | 68.51 | 331,242 | $ | 80.90 | |||||||||||||||||
Granted | 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) | — | — | 3,806 | 62.07 | |||||||||||||||||||
Nonvested at December 31, 2020 | 260,977 | 74.75 | 262,013 | 88.99 | |||||||||||||||||||
Granted | 194,940 | 66.40 | 134,290 | 86.19 | |||||||||||||||||||
Vested (a) | (137,267) | 71.99 | (151,678) | 76.04 | |||||||||||||||||||
Forfeited | (11,656) | 60.98 | (16,463) | 93.91 | |||||||||||||||||||
Adjustment (b) | — | — | 170,093 | 71.17 | |||||||||||||||||||
Nonvested at December 31, 2021 | 306,994 | 71.21 | 398,255 | 86.86 | |||||||||||||||||||
Granted (c) | 235,348 | 80.28 | 144,311 | 104.97 | |||||||||||||||||||
Vested (a) | (154,028) | 72.80 | (165,615) | 92.16 | |||||||||||||||||||
Forfeited | (12,016) | 75.93 | (4,262) | 98.26 | |||||||||||||||||||
Adjustment (b) | — | — | 159,092 | 80.90 | |||||||||||||||||||
Nonvested at December 31, 2022 (d) | 376,298 | $ | 74.78 | 531,781 | $ | 89.14 |
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 2022 10-K– 104 |
W. P. Carey |
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 |
Years Ended December 31, | |||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||
Federal | |||||||||||||||||
Current | $ | 5,329 | $ | (405) | $ | (1,118) | |||||||||||
Deferred (a) | 13 | 17 | (33,040) | ||||||||||||||
5,342 | (388) | (34,158) | |||||||||||||||
State and Local | |||||||||||||||||
Current | 3,388 | 3,008 | 3,284 | ||||||||||||||
Deferred (a) | — | (30) | (7,756) | ||||||||||||||
3,388 | 2,978 | (4,472) | |||||||||||||||
Foreign | |||||||||||||||||
Current | 27,077 | 30,599 | 26,137 | ||||||||||||||
Deferred | (8,083) | (4,703) | (8,266) | ||||||||||||||
18,994 | 25,896 | 17,871 | |||||||||||||||
Total Provision for (Benefit from) Income Taxes | $ | 27,724 | $ | 28,486 | $ | (20,759) |
Years Ended December 31, | ||||||||||||||||||||||||||||
Years Ended December 31, | 2022 | 2021 | 2020 | |||||||||||||||||||||||||
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 income (loss) attributable to taxable subsidiaries (a) (b) | Pre-tax income (loss) attributable to taxable subsidiaries (a) (b) | $ | 55,604 | $ | 37,861 | $ | (56,789) | |||||||||||||||||||||
Federal provision at statutory tax rate (21%) | Federal provision at statutory tax rate (21%) | $ | 11,677 | $ | 7,951 | $ | (11,926) | |||||||||||||||||||||
Change in valuation allowance | 11,041 | 6,735 | 11,805 | Change in valuation allowance | 8,082 | 13,178 | 13,946 | |||||||||||||||||||||
Rate differential (c) | (6,820 | ) | (14,165 | ) | (13,134 | ) | ||||||||||||||||||||||
Non-deductible expense | 5,313 | 4,996 | 3,010 | Non-deductible expense | 6,972 | 3,148 | 6,303 | |||||||||||||||||||||
State and local taxes, net of federal benefit | State and local taxes, net of federal benefit | 2,920 | 2,713 | 2,336 | ||||||||||||||||||||||||
Windfall tax benefit | (5,183 | ) | (3,754 | ) | (4,618 | ) | Windfall tax benefit | (1,896) | (1,375) | (2,132) | ||||||||||||||||||
State and local taxes, net of federal benefit | 4,062 | 7,590 | 1,115 | |||||||||||||||||||||||||
Rate differential | Rate differential | (387) | (232) | (632) | ||||||||||||||||||||||||
Revocation of TRS Status | — | — | (37,249) | |||||||||||||||||||||||||
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 | ||||||||||||||||||||||||
Non-taxable income | 103 | (736 | ) | (8,073 | ) | Non-taxable income | — | — | (2) | |||||||||||||||||||
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 | 356 | 3,103 | 1,394 | ||||||||||||||||||||
Total provision | $ | 26,211 | $ | 14,411 | $ | 2,711 | ||||||||||||||||||||||
Total provision for (benefit from) income taxes | Total provision for (benefit from) income taxes | $ | 27,724 | $ | 28,486 | $ | (20,759) |
(a)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 method 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). (b)Pre-tax income attributable to taxable subsidiaries for 2022 includes taxable income, recognized in connection with the CPA:18 Merger, associated with the accelerated vesting of shares previously issued by CPA:18 – Global to us for asset management services performed. |
W. P. Carey |
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 | ) |
December 31, | |||||||||||
2022 | 2021 | ||||||||||
Deferred Tax Assets | |||||||||||
Net operating loss and other tax credit carryforwards | $ | 63,454 | $ | 55,147 | |||||||
Basis differences — foreign investments | 62,099 | 52,705 | |||||||||
Unearned and deferred compensation | 643 | 15,895 | |||||||||
Lease liabilities (a) | — | 14,752 | |||||||||
Other | 1,242 | 374 | |||||||||
Total deferred tax assets | 127,438 | 138,873 | |||||||||
Valuation allowance | (106,185) | (108,812) | |||||||||
Net deferred tax assets | 21,253 | 30,061 | |||||||||
Deferred Tax Liabilities | |||||||||||
Basis differences — foreign investments | (179,761) | (145,524) | |||||||||
ROU assets (a) | — | (12,637) | |||||||||
Basis differences — equity investees | — | (1,195) | |||||||||
Total deferred tax liabilities | (179,761) | (159,356) | |||||||||
Net Deferred Tax Liability | $ | (158,508) | $ | (129,295) |
W. P. Carey 2022 10-K– 107 |
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, | |||||||||||
2022 | 2021 | ||||||||||
Beginning balance | $ | 5,994 | $ | 6,312 | |||||||
Decrease due to lapse in statute of limitations | (2,847) | (508) | |||||||||
Increase due to CPA:18 Merger | 2,694 | — | |||||||||
Addition based on tax positions related to the prior year | 543 | 315 | |||||||||
Foreign currency translation adjustments | (407) | (451) | |||||||||
Addition based on tax positions related to the current year | 241 | 326 | |||||||||
Ending balance | $ | 6,218 | $ | 5,994 |
W. P. Carey 2022 10-K– 108 |
W. P. Carey |
Years Ended December 31, | |||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||
Revenues | |||||||||||||||||
Lease revenues | $ | 1,301,617 | $ | 1,177,438 | $ | 1,080,623 | |||||||||||
Income from direct financing leases and loans receivable | 74,266 | 67,555 | 74,893 | ||||||||||||||
Operating property revenues (a) | 59,230 | 13,478 | 11,399 | ||||||||||||||
Other lease-related income | 32,988 | 53,655 | 11,082 | ||||||||||||||
1,468,101 | 1,312,126 | 1,177,997 | |||||||||||||||
Operating Expenses | |||||||||||||||||
Depreciation and amortization (b) | 503,403 | 475,989 | 441,948 | ||||||||||||||
General and administrative (b) | 88,952 | 81,888 | 70,127 | ||||||||||||||
Reimbursable tenant costs | 73,622 | 62,417 | 56,409 | ||||||||||||||
Property expenses, excluding reimbursable tenant costs | 50,753 | 47,898 | 44,067 | ||||||||||||||
Impairment charges | 39,119 | 24,246 | 35,830 | ||||||||||||||
Stock-based compensation expense (b) | 32,841 | 24,881 | 15,247 | ||||||||||||||
Operating property expenses | 27,054 | 9,848 | 9,901 | ||||||||||||||
Merger and other expenses | 19,384 | (4,597) | (937) | ||||||||||||||
835,128 | 722,570 | 672,592 | |||||||||||||||
Other Income and Expenses | |||||||||||||||||
Interest expense | (219,160) | (196,831) | (210,087) | ||||||||||||||
Other gains and (losses) | 97,149 | (13,676) | 37,104 | ||||||||||||||
Gain on sale of real estate, net | 43,476 | 40,425 | 109,370 | ||||||||||||||
Non-operating income | 30,289 | 13,778 | 8,970 | ||||||||||||||
Earnings (losses) from equity method investments in real estate | 16,221 | (19,649) | (9,017) | ||||||||||||||
Gain on change in control of interests | 11,405 | — | — | ||||||||||||||
(20,620) | (175,953) | (63,660) | |||||||||||||||
Income before income taxes | 612,353 | 413,603 | 441,745 | ||||||||||||||
(Provision for) benefit from income taxes | (21,407) | (28,703) | 18,498 | ||||||||||||||
Net Income from Real Estate | 590,946 | 384,900 | 460,243 | ||||||||||||||
Net loss (income) attributable to noncontrolling interests | 657 | (134) | (731) | ||||||||||||||
Net Income from Real Estate Attributable to W. P. Carey | $ | 591,603 | $ | 384,766 | $ | 459,512 |
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, | |||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||
Revenues | |||||||||||||||||
Asset management revenue | $ | 8,467 | $ | 15,363 | $ | 22,467 | |||||||||||
Reimbursable costs from affiliates | 2,518 | 4,035 | 8,855 | ||||||||||||||
10,985 | 19,398 | 31,322 | |||||||||||||||
Operating Expenses | |||||||||||||||||
Impairment charges — Investment Management goodwill | 29,334 | — | — | ||||||||||||||
Reimbursable costs from affiliates | 2,518 | 4,035 | 8,855 | ||||||||||||||
Merger and other expenses | 3 | 51 | 1,184 | ||||||||||||||
General and administrative (b) | — | — | 5,823 | ||||||||||||||
Subadvisor fees | — | — | 1,469 | ||||||||||||||
Depreciation and amortization (b) | — | — | 987 | ||||||||||||||
Stock-based compensation expense (b) | — | — | 691 | ||||||||||||||
31,855 | 4,086 | 19,009 | |||||||||||||||
Other Income and Expenses | |||||||||||||||||
Gain on change in control of interests | 22,526 | — | — | ||||||||||||||
Earnings (losses) from equity method investments in the Managed Programs | 13,288 | 8,820 | (9,540) | ||||||||||||||
Other gains and (losses) | (1,111) | 791 | 61 | ||||||||||||||
Non-operating income | 20 | 82 | 617 | ||||||||||||||
34,723 | 9,693 | (8,862) | |||||||||||||||
Income before income taxes | 13,853 | 25,005 | 3,451 | ||||||||||||||
(Provision for) benefit from income taxes | (6,317) | 217 | 2,261 | ||||||||||||||
Net Income from Investment Management | 7,536 | 25,222 | 5,712 | ||||||||||||||
Net income attributable to noncontrolling interests | — | — | (9,865) | ||||||||||||||
Net Income (Loss) from Investment Management Attributable to W. P. Carey | $ | 7,536 | $ | 25,222 | $ | (4,153) |
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, | |||||||||||
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 |
Years Ended December 31, | |||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||
Revenues | $ | 1,479,086 | $ | 1,331,524 | $ | 1,209,319 | |||||||||||
Operating expenses | 866,983 | 726,656 | 691,601 | ||||||||||||||
Other income and expenses | 14,103 | (166,260) | (72,522) | ||||||||||||||
(Provision for) benefit from income taxes | (27,724) | (28,486) | 20,759 | ||||||||||||||
Net loss (income) attributable to noncontrolling interests | 657 | (134) | (10,596) | ||||||||||||||
Net income attributable to W. P. Carey | $ | 599,139 | $ | 409,988 | $ | 455,359 |
Total Assets at December 31, | |||||||||||
2022 | 2021 | ||||||||||
Real Estate | $ | 18,077,155 | $ | 15,344,703 | |||||||
Investment Management (c) | 24,880 | 135,927 | |||||||||
Total Company | $ | 18,102,035 | $ | 15,480,630 |
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, | |||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||
Revenues | |||||||||||||||||
Domestic | $ | 985,763 | $ | 860,961 | $ | 756,763 | |||||||||||
International | 482,338 | 451,165 | 421,234 | ||||||||||||||
Total | $ | 1,468,101 | $ | 1,312,126 | $ | 1,177,997 |
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 |
December 31, | |||||||||||
2022 | 2021 | ||||||||||
Long-lived Assets | |||||||||||
Domestic | $ | 10,053,422 | $ | 8,170,448 | |||||||
International | 5,435,476 | 4,866,921 | |||||||||
Total | $ | 15,488,898 | $ | 13,037,369 | |||||||
Equity Investments in Real Estate | |||||||||||
Domestic | $ | 286,708 | $ | 236,643 | |||||||
International | 38,569 | 55,260 | |||||||||
Total | $ | 325,277 | $ | 291,903 |
December 31, | |||||||
2019 | 2018 | ||||||
Long-lived Assets (a) | |||||||
Domestic | $ | 7,574,110 | $ | 7,579,018 | |||
International | 4,342,635 | 4,349,836 | |||||
Total | $ | 11,916,745 | $ | 11,928,854 | |||
Equity Investments in Real Estate | |||||||
Domestic | $ | 110,822 | $ | 129,799 | |||
International | 83,615 | 91,859 | |||||
Total | $ | 194,437 | $ | 221,658 |
W. P. Carey |
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 |
W. P. Carey |
Description | Balance at Beginning of Year | Other Additions | Deductions | Balance at End of Year | ||||||||||||||||||||||
Year Ended December 31, 2022 | ||||||||||||||||||||||||||
Valuation reserve for deferred tax assets | $ | 108,812 | $ | 34,894 | $ | (37,521) | $ | 106,185 | ||||||||||||||||||
Year Ended December 31, 2021 | ||||||||||||||||||||||||||
Valuation reserve for deferred tax assets | $ | 86,069 | $ | 40,895 | $ | (18,152) | $ | 108,812 | ||||||||||||||||||
Year Ended December 31, 2020 | ||||||||||||||||||||||||||
Valuation reserve for deferred tax assets | $ | 73,643 | $ | 31,470 | $ | (19,044) | $ | 86,069 |
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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Real Estate Subject to Operating Leases | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Erlanger, KY | $ | — | $ | 1,526 | $ | 21,427 | $ | 2,966 | $ | (84) | $ | 1,526 | $ | 24,309 | $ | 25,835 | $ | 15,406 | 1979; 1987 | Jan. 1998 | 40 yrs. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Thurmont, MD and Farmington, NY | — | 729 | 5,903 | — | — | 729 | 5,903 | 6,632 | 3,420 | 1964; 1983 | Jan. 1998 | 15 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Commerce, CA | — | 4,905 | 11,898 | — | (3,043) | 4,573 | 9,187 | 13,760 | 5,820 | 1948 | Jan. 1998 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Toledo, OH | — | 224 | 2,408 | — | — | 224 | 2,408 | 2,632 | 2,007 | 1966 | Jan. 1998 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Goshen, IN | — | 239 | 940 | — | — | 239 | 940 | 1,179 | 604 | 1973 | Jan. 1998 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Raleigh, NC | — | 1,638 | 2,844 | 187 | (2,554) | 828 | 1,287 | 2,115 | 1,085 | 1983 | Jan. 1998 | 20 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in King of Prussia, PA | — | 1,219 | 6,283 | 1,295 | — | 1,219 | 7,578 | 8,797 | 4,627 | 1968 | Jan. 1998 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Pinconning, MI | — | 32 | 1,692 | — | — | 32 | 1,692 | 1,724 | 1,057 | 1948 | Jan. 1998 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Sylmar, CA | — | 2,052 | 5,322 | — | (1,889) | 1,494 | 3,991 | 5,485 | 2,504 | 1962; 1979 | Jan. 1998 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities in the United States | — | 9,382 | — | 238 | 14,696 | 9,025 | 15,291 | 24,316 | 10,071 | Various | Jan. 1998 | 15 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Land in Glendora, CA | — | 1,135 | — | — | 17 | 1,152 | — | 1,152 | — | N/A | Jan. 1998 | N/A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Doraville, GA | — | 3,288 | 9,864 | 17,079 | (11,410) | 3,288 | 15,533 | 18,821 | 2,797 | 2016 | Jan. 1998 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Collierville, TN and warehouse facility in Corpus Christi, TX | — | 3,490 | 72,497 | 3,513 | (15,608) | 288 | 63,604 | 63,892 | 24,648 | 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 | 8,373 | 516 | 5,035 | 27,846 | 32,881 | 16,742 | 1989 | Jan. 1998 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Bridgeton, MO | — | 842 | 4,762 | 2,523 | (196) | 842 | 7,089 | 7,931 | 4,307 | 1972 | Jan. 1998 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Memphis, TN | — | 1,882 | 3,973 | 294 | (3,892) | 328 | 1,929 | 2,257 | 1,591 | 1969 | Jan. 1998 | 15 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Romulus, MI | — | 454 | 6,411 | 525 | — | 454 | 6,936 | 7,390 | 2,766 | 1970 | Jan. 1998 | 10 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Bellevue, WA | — | 4,125 | 11,812 | 393 | (123) | 4,371 | 11,836 | 16,207 | 7,149 | 1994 | Apr. 1998 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Rio Rancho, NM | — | 1,190 | 9,353 | 5,866 | (238) | 2,287 | 13,884 | 16,171 | 7,639 | 1999 | Jul. 1998 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Moorestown, NJ | — | 351 | 5,981 | 1,690 | 1 | 351 | 7,672 | 8,023 | 4,887 | 1964 | Feb. 1999 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Winston-Salem, NC | — | 1,860 | 12,539 | 3,075 | (7,325) | 925 | 9,224 | 10,149 | 5,591 | 1980 | Sep. 2002 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facilities in Playa Vista and Venice, CA | 19,523 | 2,032 | 10,152 | 52,817 | 1 | 5,889 | 59,113 | 65,002 | 20,644 | 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 | 2,288 | 1995 | Sep. 2004 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in Apopka, FL | — | 362 | 10,855 | 1,195 | (155) | 337 | 11,920 | 12,257 | 4,891 | 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 | 2,917 | 1995 | Dec. 2006 | 29 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Wroclaw, Poland | — | 3,600 | 10,306 | — | (4,260) | 2,667 | 6,979 | 9,646 | 2,596 | 2007 | Dec. 2007 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Fort Worth, TX | — | 4,600 | 37,580 | 367 | — | 4,600 | 37,947 | 42,547 | 12,191 | 2003 | Feb. 2010 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Mallorca, Spain | — | 11,109 | 12,636 | — | (2,543) | 9,901 | 11,301 | 21,202 | 3,553 | 2008 | Jun. 2010 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net-lease hotels in the United States | — | 32,680 | 198,999 | — | (10,651) | 30,099 | 190,929 | 221,028 | 56,001 | 1989; 1990 | Sep. 2012 | 34 - 37 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 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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Auburn, IN; Clinton Township, MI; and Bluffton, OH | — | 4,403 | 20,298 | — | (3,870) | 2,589 | 18,242 | 20,831 | 5,915 | 1968; 1975; 1995 | Sep. 2012; Jan. 2014 | 30 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Irvine, CA | — | 4,173 | — | — | 13,766 | 4,173 | 13,766 | 17,939 | 665 | 1981 | Sep. 2012 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Alpharetta, GA | — | 2,198 | 6,349 | 1,247 | — | 2,198 | 7,596 | 9,794 | 2,675 | 1997 | Sep. 2012 | 30 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facilities in St. Petersburg, FL | — | 3,280 | 24,627 | 4,627 | — | 3,280 | 29,254 | 32,534 | 9,207 | 1996; 1999 | Sep. 2012 | 30 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Movie theater in Baton Rouge, LA | — | 4,168 | 5,724 | 3,200 | — | 4,168 | 8,924 | 13,092 | 3,105 | 2003 | Sep. 2012 | 30 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial and office facility in San Diego, CA | — | 7,804 | 16,729 | 5,939 | (832) | 7,804 | 21,836 | 29,640 | 7,626 | 2002 | Sep. 2012 | 30 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Richmond, CA | — | 895 | 1,953 | — | — | 895 | 1,953 | 2,848 | 669 | 1999 | Sep. 2012 | 30 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in the United States | — | 16,386 | 84,668 | 10,959 | — | 16,386 | 95,627 | 112,013 | 29,926 | 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 | 3,725 | 1948; 1989 | Sep. 2012 | 30 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Chattanooga, TN | — | 558 | 5,923 | — | — | 558 | 5,923 | 6,481 | 2,006 | 1974; 1989 | Sep. 2012 | 30 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Mooresville, NC | — | 756 | 9,775 | — | — | 756 | 9,775 | 10,531 | 3,302 | 1997 | Sep. 2012 | 30 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in McCalla, AL | — | 960 | 14,472 | 42,662 | (254) | 2,076 | 55,764 | 57,840 | 12,717 | 2004 | Sep. 2012 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Yardley, PA | — | 1,726 | 12,781 | 4,378 | — | 1,726 | 17,159 | 18,885 | 5,555 | 2002 | Sep. 2012 | 30 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Fort Smith, AZ | — | 1,063 | 6,159 | — | — | 1,063 | 6,159 | 7,222 | 2,058 | 1982 | Sep. 2012 | 30 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities in Greenwood, IN and Buffalo, NY | 2,519 | — | 19,990 | — | — | — | 19,990 | 19,990 | 6,608 | 2000; 2003 | Sep. 2012 | 30 - 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Bowling Green, KY and Jackson, TN | — | 1,492 | 8,182 | 600 | — | 1,492 | 8,782 | 10,274 | 2,771 | 1989; 1995 | Sep. 2012 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Education facilities in Rancho Cucamonga, CA and Exton, PA | — | 14,006 | 33,683 | 9,428 | (20,142) | 6,638 | 30,337 | 36,975 | 8,207 | 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 | — | 6,559 | 19,078 | 3,285 | — | 6,559 | 22,363 | 28,922 | 6,657 | Various | Sep. 2012 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial and warehouse facility in Mesquite, TX | — | 2,702 | 13,029 | — | — | 2,702 | 13,029 | 15,731 | 507 | 1972 | Sep. 2012 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Tolleson, AZ; Alsip, IL; and Solvay, NY | — | 6,080 | 23,424 | 546 | — | 6,080 | 23,970 | 30,050 | 7,690 | 1990; 1994; 2000 | Sep. 2012 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fitness facility in Memphis, TN | — | 4,877 | 4,258 | 5,215 | (2,353) | 2,027 | 9,970 | 11,997 | 4,415 | 1990 | Sep. 2012 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in Oceanside, CA and Concordville, PA | 1,045 | 3,333 | 8,270 | — | — | 3,333 | 8,270 | 11,603 | 2,719 | 1989; 1996 | Sep. 2012 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net-lease self-storage facilities in the United States | — | 74,551 | 319,186 | — | (50) | 74,501 | 319,186 | 393,687 | 103,823 | Various | Sep. 2012 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in La Vista, NE | 17,095 | 4,196 | 23,148 | — | — | 4,196 | 23,148 | 27,344 | 7,095 | 2005 | Sep. 2012 | 33 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Pleasanton, CA | — | 3,675 | 7,468 | — | — | 3,675 | 7,468 | 11,143 | 2,423 | 2000 | Sep. 2012 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in San Marcos, TX | — | 440 | 688 | — | — | 440 | 688 | 1,128 | 223 | 2000 | Sep. 2012 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Chicago, IL | — | 2,169 | 19,010 | 83 | (72) | 2,169 | 19,021 | 21,190 | 6,125 | 1910 | 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 Hollywood and Orlando, FL | — | 3,639 | 1,269 | — | — | 3,639 | 1,269 | 4,908 | 409 | 1996 | Sep. 2012 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Golden, CO | — | 808 | 4,304 | 77 | — | 808 | 4,381 | 5,189 | 1,551 | 1998 | Sep. 2012 | 30 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Texarkana, TX | — | 1,755 | 4,493 | — | (2,783) | 216 | 3,249 | 3,465 | 1,046 | 1997 | Sep. 2012 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in South Jordan, UT | — | 2,183 | 11,340 | 1,642 | — | 2,183 | 12,982 | 15,165 | 4,093 | 1995 | Sep. 2012 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Ennis, TX | — | 478 | 4,087 | 145 | (145) | 478 | 4,087 | 4,565 | 1,316 | 1989 | Sep. 2012 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Paris, France | — | 23,387 | 43,450 | 703 | (11,450) | 19,397 | 36,693 | 56,090 | 11,375 | 1975 | Sep. 2012 | 32 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities in Poland | — | 26,564 | 72,866 | — | (17,002) | 21,993 | 60,435 | 82,428 | 26,047 | Various | Sep. 2012 | 23 - 34 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Danbury, CT and Bedford, MA | — | 3,519 | 16,329 | — | — | 3,519 | 16,329 | 19,848 | 5,608 | 1965; 1980 | Sep. 2012 | 29 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Brownwood, TX | — | 722 | 6,268 | — | — | 722 | 6,268 | 6,990 | 1,671 | 1964 | Sep. 2012 | 15 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Rochester, MN | — | 809 | 14,236 | 1,200 | — | 809 | 15,436 | 16,245 | 673 | 1997 | Sep. 2012 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial and office facility in Tampere, Finland | — | 2,309 | 37,153 | — | (7,176) | 1,865 | 30,421 | 32,286 | 9,311 | 2012 | Jun. 2013 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Quincy, MA | — | 2,316 | 21,537 | 127 | — | 2,316 | 21,664 | 23,980 | 5,594 | 1989 | Jun. 2013 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Salford, United Kingdom | — | — | 30,012 | — | (6,940) | — | 23,072 | 23,072 | 5,484 | 1997 | Sep. 2013 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Lone Tree, CO | — | 4,761 | 28,864 | 3,381 | — | 4,761 | 32,245 | 37,006 | 8,768 | 2001 | Nov. 2013 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Mönchengladbach, Germany | 27,642 | 2,154 | 6,917 | 50,626 | (4,660) | 2,048 | 52,989 | 55,037 | 9,449 | 2015 | Dec. 2013 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fitness facility in Houston, TX | — | 2,430 | 2,270 | — | — | 2,430 | 2,270 | 4,700 | 903 | 1995 | Jan. 2014 | 23 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fitness facility in St. Charles, MO | — | 1,966 | 1,368 | 1,658 | — | 1,966 | 3,026 | 4,992 | 1,140 | 1987 | Jan. 2014 | 27 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Scottsdale, AZ | — | 22,300 | 42,329 | 89 | — | 22,300 | 42,418 | 64,718 | 3,052 | 1977 | Jan. 2014 | 34 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Aurora, CO | — | 737 | 2,609 | — | — | 737 | 2,609 | 3,346 | 736 | 1985 | Jan. 2014 | 32 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Burlington, NJ | — | 3,989 | 6,213 | 377 | — | 3,989 | 6,590 | 10,579 | 2,323 | 1999 | Jan. 2014 | 26 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Albuquerque, NM | — | 2,467 | 3,476 | 606 | — | 2,467 | 4,082 | 6,549 | 1,382 | 1993 | Jan. 2014 | 27 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in North Salt Lake, UT | — | 10,601 | 17,626 | — | (16,936) | 4,388 | 6,903 | 11,291 | 2,352 | 1981 | Jan. 2014 | 26 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Lexington, NC | — | 2,185 | 12,058 | — | (2,519) | 494 | 11,230 | 11,724 | 3,608 | 2003 | Jan. 2014 | 28 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Dallas, TX | — | 3,190 | 10,010 | — | — | 3,190 | 10,010 | 13,200 | 133 | 1968 | Jan. 2014 | 32 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 | 16,530 | 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 | 7,996 | 1978; 1979; 1986 | Jan. 2014 | 17 - 34 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Torrance, CA | — | 8,412 | 12,241 | 2,227 | (77) | 8,335 | 14,468 | 22,803 | 5,219 | 1973 | Jan. 2014 | 25 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Houston, TX | — | 6,578 | 424 | 560 | — | 6,578 | 984 | 7,562 | 640 | 1978 | Jan. 2014 | 27 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Land in Doncaster, United Kingdom | — | 4,257 | 4,248 | — | (8,146) | 359 | — | 359 | — | N/A | Jan. 2014 | N/A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Norwich, CT | — | 3,885 | 21,342 | — | 2 | 3,885 | 21,344 | 25,229 | 6,736 | 1960 | Jan. 2014 | 28 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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Norwich, CT | — | 1,437 | 9,669 | — | — | 1,437 | 9,669 | 11,106 | 3,052 | 2005 | Jan. 2014 | 28 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Whitehall, PA | — | 7,435 | 9,093 | 27,148 | (9,545) | 6,983 | 27,148 | 34,131 | 971 | 2021 | Jan. 2014 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in York, PA | — | 3,776 | 10,092 | — | (6,413) | 527 | 6,928 | 7,455 | 1,830 | 2005 | Jan. 2014 | 34 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in Atlanta, GA and Elkwood, VA | — | 5,356 | 4,121 | — | (2,104) | 4,284 | 3,089 | 7,373 | 989 | 1975 | Jan. 2014 | 28 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Harrisburg, NC | — | 1,753 | 5,840 | 781 | (111) | 1,642 | 6,621 | 8,263 | 2,071 | 2000 | Jan. 2014 | 26 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Chandler, AZ; industrial, office, and warehouse facility in Englewood, CO; and land in Englewood, CO | 1,552 | 4,306 | 7,235 | — | 3 | 4,306 | 7,238 | 11,544 | 2,133 | 1978; 1987 | Jan. 2014 | 30 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Cynthiana, KY | 831 | 1,274 | 3,505 | 525 | (107) | 1,274 | 3,923 | 5,197 | 1,257 | 1967 | Jan. 2014 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Albemarle and Old Fort, NC and Holmesville, OH | — | 5,507 | 18,653 | — | — | 5,507 | 18,653 | 24,160 | 722 | 1955; 1966; 1970 | Jan. 2014 | 32 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Columbia, SC | — | 2,843 | 11,886 | — | — | 2,843 | 11,886 | 14,729 | 4,692 | 1962 | Jan. 2014 | 23 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Movie theater in Midlothian, VA | — | 2,824 | 16,618 | — | — | 2,824 | 16,618 | 19,442 | 2,355 | 2000 | Jan. 2014 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net-lease student housing facility in Laramie, WY | — | 1,966 | 18,896 | — | — | 1,966 | 18,896 | 20,862 | 5,920 | 2007 | Jan. 2014 | 33 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in Mendota, IL; Toppenish, WA; and Plover, WI | — | 1,444 | 21,208 | — | (623) | 1,382 | 20,647 | 22,029 | 8,212 | 1996 | Jan. 2014 | 23 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Land in Sunnyvale, CA | — | 9,297 | 24,086 | — | (26,077) | 7,306 | — | 7,306 | — | N/A | Jan. 2014 | N/A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Hampton, NH | — | 8,990 | 7,362 | — | — | 8,990 | 7,362 | 16,352 | 2,164 | 1976 | Jan. 2014 | 30 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in France | — | 36,306 | 5,212 | 337 | 3,123 | 24,411 | 20,567 | 44,978 | 2,904 | Various | Jan. 2014 | 23 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Fairfax, VA | — | 3,402 | 16,353 | — | (6,219) | 1,914 | 11,622 | 13,536 | 5,536 | 1998 | Jan. 2014 | 26 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Lombard, IL | — | 5,087 | 8,578 | — | — | 5,087 | 8,578 | 13,665 | 2,904 | 1999 | Jan. 2014 | 26 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Plainfield, IN | — | 1,578 | 29,415 | 1,674 | — | 1,578 | 31,089 | 32,667 | 8,786 | 1997 | Jan. 2014 | 30 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Kennesaw, GA | — | 2,849 | 6,180 | 5,530 | (76) | 2,773 | 11,710 | 14,483 | 3,966 | 1999 | Jan. 2014 | 26 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Leawood, KS | — | 1,487 | 13,417 | — | — | 1,487 | 13,417 | 14,904 | 4,542 | 1997 | Jan. 2014 | 26 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Tolland, CT | — | 1,817 | 5,709 | — | 11 | 1,817 | 5,720 | 7,537 | 1,860 | 1968 | Jan. 2014 | 28 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in Lincolnton, NC and Mauldin, SC | — | 1,962 | 9,247 | — | — | 1,962 | 9,247 | 11,209 | 2,936 | 1988; 1996 | Jan. 2014 | 28 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities in Germany | — | 81,109 | 153,927 | 10,510 | (142,195) | 26,287 | 77,064 | 103,351 | 22,737 | Various | Jan. 2014 | Various | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Southfield, MI | — | 1,726 | 4,856 | 89 | — | 1,726 | 4,945 | 6,671 | 1,425 | 1985 | Jan. 2014 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in The Woodlands, TX | — | 3,204 | 24,997 | — | — | 3,204 | 24,997 | 28,201 | 7,075 | 1997 | Jan. 2014 | 32 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in Valdosta, GA and Johnson City, TN | — | 1,080 | 14,998 | 1,841 | — | 1,080 | 16,839 | 17,919 | 5,395 | 1978; 1998 | Jan. 2014 | 27 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Amherst, NY | 5,893 | 674 | 7,971 | — | — | 674 | 7,971 | 8,645 | 3,170 | 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 | 5,850 | 1954; 1997 | Jan. 2014 | 28 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Bloomington, MN | — | 2,942 | 7,155 | — | (3,257) | 1,740 | 5,100 | 6,840 | 2,200 | 1988 | Jan. 2014 | 28 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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Gorinchem, Netherlands | — | 1,143 | 5,648 | — | (1,470) | 896 | 4,425 | 5,321 | 1,393 | 1995 | Jan. 2014 | 28 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Cresskill, NJ | — | 2,366 | 5,482 | — | 19 | 2,366 | 5,501 | 7,867 | 1,574 | 1975 | Jan. 2014 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Livingston, NJ | — | 2,932 | 2,001 | — | 14 | 2,932 | 2,015 | 4,947 | 661 | 1966 | Jan. 2014 | 27 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Montclair, NJ | — | 1,905 | 1,403 | — | 6 | 1,905 | 1,409 | 3,314 | 462 | 1950 | Jan. 2014 | 27 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Morristown, NJ | — | 3,258 | 8,352 | — | 26 | 3,258 | 8,378 | 11,636 | 2,750 | 1973 | Jan. 2014 | 27 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Summit, NJ | — | 1,228 | 1,465 | — | 8 | 1,228 | 1,473 | 2,701 | 483 | 1950 | Jan. 2014 | 27 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Georgetown, TX and Woodland, WA | — | 965 | 4,113 | — | — | 965 | 4,113 | 5,078 | 1,087 | 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 | 2,514 | Various | Jan. 2014 | 28 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Salisbury, NC | — | 1,499 | 8,185 | — | — | 1,499 | 8,185 | 9,684 | 2,629 | 2000 | Jan. 2014 | 28 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Twinsburg, OH and office facility in Plymouth, MI | — | 2,831 | 10,565 | 386 | (2,244) | 2,501 | 9,037 | 11,538 | 2,898 | 1991; 1995 | Jan. 2014 | 27 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Cambridge, Canada | — | 1,849 | 7,371 | — | (1,607) | 1,526 | 6,087 | 7,613 | 1,737 | 2001 | Jan. 2014 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Peru, IL; Huber Heights, Lima, and Sheffield, OH; and Lebanon, TN | — | 2,962 | 17,832 | — | — | 2,962 | 17,832 | 20,794 | 5,087 | Various | Jan. 2014 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Ramos Arizpe, Mexico | — | 1,059 | 2,886 | — | — | 1,059 | 2,886 | 3,945 | 821 | 2000 | Jan. 2014 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Salt Lake City, UT | — | 2,783 | 3,773 | — | — | 2,783 | 3,773 | 6,556 | 1,076 | 1983; 2002 | Jan. 2014 | 31 - 33 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net-lease student housing facility in Blairsville, PA | — | 1,631 | 23,163 | — | — | 1,631 | 23,163 | 24,794 | 7,052 | 2005 | Jan. 2014 | 33 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Education facility in Mooresville, NC | 397 | 1,795 | 15,955 | — | — | 1,795 | 15,955 | 17,750 | 983 | 2002 | Jan. 2014 | 33 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in Atlanta, Doraville, and Rockmart, GA | — | 6,488 | 77,192 | — | — | 6,488 | 77,192 | 83,680 | 24,122 | 1959; 1962; 1991 | Jan. 2014 | 23 - 33 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Muskogee, OK | — | 554 | 4,353 | — | (3,437) | 158 | 1,312 | 1,470 | 357 | 1992 | Jan. 2014 | 33 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Richmond, MO | — | 2,211 | 8,505 | 747 | — | 2,211 | 9,252 | 11,463 | 2,938 | 1996 | Jan. 2014 | 28 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Tuusula, Finland | — | 6,173 | 10,321 | — | (3,570) | 4,837 | 8,087 | 12,924 | 2,828 | 1975 | Jan. 2014 | 26 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Turku, Finland | — | 5,343 | 34,106 | 3,792 | 325 | 5,052 | 38,514 | 43,566 | 11,238 | 1981 | Jan. 2014 | 28 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Phoenix, AZ | — | 6,747 | 21,352 | 380 | — | 6,747 | 21,732 | 28,479 | 7,056 | 1996 | Jan. 2014 | 28 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Land in Calgary, Canada | — | 3,721 | — | — | (649) | 3,072 | — | 3,072 | — | N/A | Jan. 2014 | N/A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Kearney, MO; York, NE; Walbridge, OH; Rocky Mount, VA; and Martinsburg, WV | — | 4,816 | 31,712 | — | — | 4,816 | 31,712 | 36,528 | 114 | Various | Jan. 2014 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Sandersville, GA; Erwin, TN; and Gainesville, TX | 739 | 955 | 4,779 | — | — | 955 | 4,779 | 5,734 | 1,374 | 1950; 1986; 1996 | Jan. 2014 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Buffalo Grove, IL | 2,763 | 1,492 | 12,233 | — | — | 1,492 | 12,233 | 13,725 | 3,527 | 1996 | 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 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 | 1,728 | Various | Jan. 2014 | 28 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Carlsbad, CA | — | 3,230 | 5,492 | — | — | 3,230 | 5,492 | 8,722 | 2,076 | 1999 | Jan. 2014 | 24 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Movie theater in Pensacola, FL | — | 1,746 | — | — | 5,181 | 1,746 | 5,181 | 6,927 | 361 | 2001 | Jan. 2014 | 33 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Movie theater in Port St. Lucie, FL | — | 4,654 | 2,576 | — | — | 4,654 | 2,576 | 7,230 | 840 | 2000 | Jan. 2014 | 27 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Nurieux-Volognat, France | — | 121 | 5,328 | — | (1,085) | 94 | 4,270 | 4,364 | 1,177 | 2000 | Jan. 2014 | 32 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Monheim, Germany | — | 2,500 | 5,727 | — | (664) | 2,303 | 5,260 | 7,563 | 209 | 1992 | Jan. 2014 | 32 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Suwanee, GA | — | 2,330 | 8,406 | — | — | 2,330 | 8,406 | 10,736 | 2,215 | 1995 | Jan. 2014 | 34 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities in Wichita, KS and Oklahoma City, OK and warehouse facility in Wichita, KS | — | 1,878 | 8,579 | 3,128 | (89) | 1,878 | 11,618 | 13,496 | 3,434 | 1954; 1975; 1984 | Jan. 2014 | 24 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Fort Dodge, IA and Menomonie and Oconomowoc, WI | — | 1,403 | 11,098 | — | — | 1,403 | 11,098 | 12,501 | 6,089 | 1996 | Jan. 2014 | 16 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Mesa, AZ | — | 2,888 | 4,282 | — | — | 2,888 | 4,282 | 7,170 | 1,401 | 1991 | Jan. 2014 | 27 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in North Amityville, NY | — | 3,486 | 11,413 | — | — | 3,486 | 11,413 | 14,899 | 3,913 | 1981 | Jan. 2014 | 26 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Fort Collins, CO | — | 821 | 7,236 | — | — | 821 | 7,236 | 8,057 | 1,965 | 1993 | Jan. 2014 | 33 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Elk Grove Village, IL | — | 4,037 | 7,865 | — | — | 4,037 | 7,865 | 11,902 | 1,160 | 1980 | Jan. 2014 | 22 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Washington, MI | — | 4,085 | 7,496 | — | — | 4,085 | 7,496 | 11,581 | 2,040 | 1990 | Jan. 2014 | 33 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Houston, TX | — | 522 | 7,448 | 227 | — | 522 | 7,675 | 8,197 | 2,610 | 1999 | Jan. 2014 | 27 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Conroe, Odessa, and Weimar, TX and industrial and office facility in Houston, TX | — | 4,049 | 13,021 | — | 133 | 4,049 | 13,154 | 17,203 | 6,282 | Various | Jan. 2014 | 12 - 22 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Education facility in Sacramento, CA | 23,843 | — | 13,715 | — | — | — | 13,715 | 13,715 | 3,659 | 2005 | Jan. 2014 | 34 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Sankt Ingbert, Germany | — | 2,226 | 17,460 | — | (380) | 2,183 | 17,123 | 19,306 | 1,358 | 1960 | 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 | 2,712 | 1969; 1974; 1984 | Jan. 2014 | 27 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Tinton Falls, NJ | — | 1,958 | 7,993 | 725 | — | 1,958 | 8,718 | 10,676 | 2,476 | 2001 | Jan. 2014 | 31 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Woodland, WA | — | 707 | 1,562 | — | — | 707 | 1,562 | 2,269 | 395 | 2009 | Jan. 2014 | 35 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in Gyál and Herceghalom, Hungary | — | 14,601 | 21,915 | — | (7,903) | 11,441 | 17,172 | 28,613 | 7,499 | 2002; 2004 | Jan. 2014 | 21 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Windsor, CT | — | 453 | 637 | 3,422 | (83) | 453 | 3,976 | 4,429 | 671 | 1999 | Jan. 2014 | 33 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Aurora, CO | — | 574 | 3,999 | — | — | 574 | 3,999 | 4,573 | 908 | 2012 | Jan. 2014 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Chandler, AZ | — | 5,318 | 27,551 | 105 | — | 5,318 | 27,656 | 32,974 | 7,032 | 2000 | Mar. 2014 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in University Park, IL | — | 7,962 | 32,756 | 221 | — | 7,962 | 32,977 | 40,939 | 8,126 | 2008 | May 2014 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Stavanger, Norway | — | 10,296 | 91,744 | — | (37,742) | 6,550 | 57,748 | 64,298 | 12,287 | 1975 | Aug. 2014 | 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 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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Laboratory facility in Westborough, MA | — | 3,409 | 37,914 | 53,065 | — | 3,409 | 90,979 | 94,388 | 12,853 | 1992 | Aug. 2014 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Andover, MA | — | 3,980 | 45,120 | 323 | — | 3,980 | 45,443 | 49,423 | 9,939 | 2013 | Oct. 2014 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Newport, United Kingdom | — | — | 22,587 | — | (5,695) | — | 16,892 | 16,892 | 3,512 | 2014 | Oct. 2014 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Lewisburg, OH | — | 1,627 | 13,721 | — | — | 1,627 | 13,721 | 15,348 | 3,141 | 2014 | Nov. 2014 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Opole, Poland | — | 2,151 | 21,438 | — | (3,354) | 1,845 | 18,390 | 20,235 | 4,338 | 2014 | Dec. 2014 | 38 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facilities in Spain | — | 51,778 | 257,624 | 10 | (39,234) | 47,944 | 222,234 | 270,178 | 46,368 | Various | Dec. 2014 | Various | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities in the United Kingdom | — | 66,319 | 230,113 | 277 | (92,573) | 43,593 | 160,543 | 204,136 | 42,766 | Various | Jan. 2015 | 20 - 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Rotterdam, Netherlands | — | — | 33,935 | 20,767 | (3,270) | — | 51,432 | 51,432 | 8,516 | 2014 | Feb. 2015 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Bad Fischau, Austria | — | 2,855 | 18,829 | — | (221) | 2,826 | 18,637 | 21,463 | 4,112 | 1998 | Apr. 2015 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Oskarshamn, Sweden | — | 3,090 | 18,262 | — | (4,435) | 2,447 | 14,470 | 16,917 | 2,999 | 2015 | Jun. 2015 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Sunderland, United Kingdom | — | 2,912 | 30,140 | — | (7,546) | 2,247 | 23,259 | 25,506 | 4,949 | 2007 | Aug. 2015 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Gersthofen and Senden, Germany and Leopoldsdorf, Austria | — | 9,449 | 15,838 | — | (1,059) | 9,053 | 15,175 | 24,228 | 3,354 | 2008; 2010 | Aug. 2015 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net-lease hotels in the United States | — | — | 49,190 | 17,396 | — | 17,396 | 49,190 | 66,586 | 10,402 | 1988; 1989; 1990 | Oct. 2015 | 38 - 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities in the Netherlands | — | 5,698 | 38,130 | 79 | (306) | 5,658 | 37,943 | 43,601 | 8,397 | Various | Nov. 2015 | 30 - 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Irvine, CA | — | 7,626 | 16,137 | — | — | 7,626 | 16,137 | 23,763 | 2,974 | 1977 | Dec. 2015 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Education facility in Windermere, FL | — | 5,090 | 34,721 | 15,333 | — | 5,090 | 50,054 | 55,144 | 11,366 | 1998 | Apr. 2016 | 38 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in the United States | — | 66,845 | 87,575 | 65,400 | (56,517) | 49,680 | 113,623 | 163,303 | 28,399 | Various | Apr. 2016 | Various | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in North Dumfries and Ottawa, Canada | — | 17,155 | 10,665 | — | (18,593) | 5,723 | 3,504 | 9,227 | 1,626 | 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 | 26,642 | 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 | 3,006 | 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 | 2,906 | 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 | 2,136 | Various | Dec. 2016 | 28 - 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Chicago, IL | — | 2,222 | 2,655 | 3,511 | — | 2,222 | 6,166 | 8,388 | 1,722 | 1985 | Jun. 2017 | 30 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Zawiercie, Poland | — | 395 | 102 | 10,378 | (931) | 361 | 9,583 | 9,944 | 1,124 | 2018 | Aug. 2017 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Roseville, MN | — | 2,560 | 16,025 | 809 | — | 2,560 | 16,834 | 19,394 | 2,340 | 2001 | Nov. 2017 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Radomsko, Poland | — | 1,718 | 59 | 37,496 | (442) | 1,573 | 37,258 | 38,831 | 1,686 | 2018 | Nov. 2017 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Sellersburg, IN | — | 1,016 | 3,838 | — | — | 1,016 | 3,838 | 4,854 | 648 | 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 | 9,046 | 1995; 2004 | Mar. 2018 | 36 - 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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office and warehouse facilities in Denmark | — | 20,304 | 185,481 | — | (15,928) | 18,733 | 171,124 | 189,857 | 24,289 | Various | Jun. 2018 | 25 - 41 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities in the Netherlands | — | 38,475 | 117,127 | — | (13,057) | 35,246 | 107,299 | 142,545 | 16,996 | Various | Jul. 2018 | 26 - 30 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Oostburg, WI | — | 786 | 6,589 | — | — | 786 | 6,589 | 7,375 | 1,318 | 2002 | Jul. 2018 | 35 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Kampen, Netherlands | — | 3,251 | 12,858 | 126 | (1,288) | 2,992 | 11,955 | 14,947 | 2,145 | 1976 | Jul. 2018 | 26 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Azambuja, Portugal | — | 13,527 | 35,631 | 28,051 | (6,533) | 12,463 | 58,213 | 70,676 | 6,890 | 1994 | Sep. 2018 | 28 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities in Amsterdam, Moordrecht, and Rotterdam, Netherlands | — | 2,582 | 18,731 | 11,338 | (2,036) | 2,420 | 28,195 | 30,615 | 3,550 | Various | Oct. 2018 | 27 - 37 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office and warehouse facilities in Bad Wünnenberg and Soest, Germany | — | 2,916 | 39,687 | — | (2,718) | 2,730 | 37,155 | 39,885 | 4,152 | 1982; 1986 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Norfolk, NE | — | 802 | 3,686 | — | — | 802 | 3,686 | 4,488 | 521 | 1975 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Education facility in Chicago, IL | — | 7,720 | 17,266 | — | (7,945) | 5,113 | 11,928 | 17,041 | 1,764 | 1912 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fitness facilities in Phoenix, AZ and Columbia, MD | — | 18,286 | 33,030 | — | — | 18,286 | 33,030 | 51,316 | 3,655 | 2006 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Gorzow, Poland | — | 1,736 | 8,298 | — | (640) | 1,625 | 7,769 | 9,394 | 932 | 2008 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Sergeant Bluff, IA; Bossier City, LA; and Alvarado, TX | 8,986 | 6,460 | 49,462 | — | — | 6,460 | 49,462 | 55,922 | 5,927 | Various | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Glendale Heights, IL | — | 4,237 | 45,484 | — | — | 4,237 | 45,484 | 49,721 | 3,008 | 1991 | Oct. 2018 | 38 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Mayodan, Sanford, and Stoneville, NC | — | 3,505 | 20,913 | — | — | 3,505 | 20,913 | 24,418 | 2,157 | 1992; 1997; 1998 | Oct. 2018 | 29 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Dillon, SC | — | 3,424 | 43,114 | — | — | 3,424 | 43,114 | 46,538 | 5,166 | 2001 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Birmingham, United Kingdom | — | 7,383 | 7,687 | — | (1,044) | 6,872 | 7,154 | 14,026 | 783 | 2009 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities in Spain | — | 17,626 | 44,501 | — | (3,964) | 16,502 | 41,661 | 58,163 | 4,702 | Various | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Gadki, Poland | — | 1,376 | 6,137 | — | (480) | 1,288 | 5,745 | 7,033 | 655 | 2011 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in The Woodlands, TX | — | 1,697 | 52,289 | — | — | 1,697 | 52,289 | 53,986 | 5,583 | 2009 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Hoffman Estates, IL | — | 5,550 | 14,214 | — | — | 5,550 | 14,214 | 19,764 | 1,574 | 2009 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Zagreb, Croatia | — | 15,789 | 33,287 | — | (3,132) | 14,781 | 31,163 | 45,944 | 5,163 | 2001 | Oct. 2018 | 26 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Middleburg Heights and Union Township, OH | 3,899 | 1,295 | 13,384 | — | — | 1,295 | 13,384 | 14,679 | 1,468 | 1990; 1997 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Las Vegas, NV | — | — | 79,720 | — | — | — | 79,720 | 79,720 | 8,322 | 2012 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in the United States | — | 20,517 | 14,135 | — | 30,060 | 22,585 | 42,127 | 64,712 | 3,476 | Various | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Bowling Green, KY | — | 2,652 | 51,915 | 72,976 | — | 2,652 | 124,891 | 127,543 | 7,605 | 2011 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in the United Kingdom | — | 6,791 | 2,315 | — | (631) | 6,321 | 2,154 | 8,475 | 264 | Various | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Evansville, IN | — | 180 | 22,095 | — | — | 180 | 22,095 | 22,275 | 2,362 | 2009 | 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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facilities in Tampa, FL | — | 3,889 | 49,843 | 1,498 | — | 3,889 | 51,341 | 55,230 | 5,585 | 1985; 2000 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Elorrio, Spain | — | 7,858 | 12,728 | — | (1,313) | 7,357 | 11,916 | 19,273 | 1,503 | 1996 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial and office facilities in Elberton, GA | — | 879 | 2,014 | — | — | 879 | 2,014 | 2,893 | 303 | 1997; 2002 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Tres Cantos, Spain | 47,277 | 24,344 | 39,646 | — | (4,084) | 22,790 | 37,116 | 59,906 | 4,209 | 2002 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Hartland, WI | 2,228 | 1,454 | 6,406 | — | — | 1,454 | 6,406 | 7,860 | 752 | 2001 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities in Dugo Selo, Kutina, Samobor, Spansko, and Zagreb, Croatia | — | 5,549 | 12,408 | 1,625 | 5,048 | 6,373 | 18,257 | 24,630 | 2,841 | 2000; 2002; 2003 | Oct. 2018 | 26 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office and warehouse facilities in the United States | — | 42,793 | 193,666 | — | — | 42,793 | 193,666 | 236,459 | 22,416 | Various | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in Breda, Elst, Gieten, Raalte, and Woerden, Netherlands | — | 37,755 | 91,666 | 4,787 | (8,402) | 35,346 | 90,460 | 125,806 | 9,515 | Various | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in Oxnard and Watsonville, CA | — | 22,453 | 78,814 | — | — | 22,453 | 78,814 | 101,267 | 8,695 | 1975; 1994; 2002 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities in Italy | — | 75,492 | 138,280 | 7,242 | (14,891) | 70,675 | 135,448 | 206,123 | 15,617 | 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 | 301 | 1982 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Martinsville, VA | — | 1,082 | 8,108 | — | — | 1,082 | 8,108 | 9,190 | 950 | 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 | 1,084 | 2012 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net-lease self-storage facilities in the United States | — | 19,583 | 108,971 | — | — | 19,583 | 108,971 | 128,554 | 12,879 | Various | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Middleburg Heights, OH | — | 542 | 2,507 | — | — | 542 | 2,507 | 3,049 | 275 | 2002 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net-lease self-storage facility in Fort Worth, TX | — | 691 | 6,295 | — | — | 691 | 6,295 | 6,986 | 761 | 2004 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities in Delnice, Pozega, and Sesvete, Croatia | — | 5,519 | 9,930 | 1,291 | (1,212) | 5,167 | 10,361 | 15,528 | 1,707 | 2011 | Oct. 2018 | 27 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facilities in Eagan and Virginia, MN | — | 16,302 | 91,239 | — | (722) | 15,954 | 90,865 | 106,819 | 10,510 | Various | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Orlando, FL | — | 6,262 | 25,134 | 430 | — | 6,371 | 25,455 | 31,826 | 2,692 | 2011 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Avon, OH | — | 1,447 | 5,564 | — | — | 1,447 | 5,564 | 7,011 | 662 | 2001 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Chimelow, Poland | — | 6,158 | 28,032 | — | (2,182) | 5,765 | 26,243 | 32,008 | 2,999 | 2012 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net-lease self-storage facility in Fayetteville, NC | — | 1,839 | 4,654 | — | — | 1,839 | 4,654 | 6,493 | 718 | 2001 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities in the United States | — | 19,529 | 42,318 | — | — | 19,529 | 42,318 | 61,847 | 4,892 | Various | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Education facilities in Montgomery, AL and Savannah, GA | — | 5,508 | 12,032 | — | — | 5,508 | 12,032 | 17,540 | 1,375 | 1969; 2002 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facilities in St. Louis, MO | — | 1,297 | 5,362 | 7,951 | — | 1,836 | 12,774 | 14,610 | 1,545 | 1995; 1999 | Oct. 2018; Aug. 2021 | 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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office and warehouse facility in Zary, PL | — | 2,062 | 10,034 | — | (772) | 1,931 | 9,393 | 11,324 | 1,101 | 2013 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in San Antonio, TX and Sterling, VA | — | 3,198 | 23,981 | 78,728 | (462) | 6,767 | 98,678 | 105,445 | 7,277 | 1980; 2020 | Oct. 2018; Dec. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Elk Grove Village, IL | — | 5,511 | 10,766 | 2 | — | 5,511 | 10,768 | 16,279 | 1,203 | 1961 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Portage, WI | 3,861 | 3,450 | 7,797 | — | — | 3,450 | 7,797 | 11,247 | 982 | 1970 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Warrenville, IL | — | 3,662 | 23,711 | — | — | 3,662 | 23,711 | 27,373 | 2,614 | 2002 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Saitama Prefecture, Japan | — | 13,507 | 25,301 | 6,586 | (11,253) | 11,035 | 23,106 | 34,141 | 2,368 | 2007 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Dallas, TX | — | 2,977 | 16,168 | — | — | 2,977 | 16,168 | 19,145 | 1,732 | 1913 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Houston, TX | — | 23,161 | 104,266 | 1,118 | — | 23,161 | 105,384 | 128,545 | 11,173 | 1973 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities in Croatia | — | 9,000 | 13,002 | 1,415 | (5,811) | 7,305 | 10,301 | 17,606 | 1,504 | Various | Oct. 2018 | 29 - 37 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Northbrook, IL | — | — | 493 | 447 | — | — | 940 | 940 | 212 | 2007 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Education facilities in Chicago, IL | — | 18,510 | 163 | — | (16,831) | 1,793 | 49 | 1,842 | 39 | 2014; 2015 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Dillon, SC | — | 3,516 | 44,933 | — | — | 3,516 | 44,933 | 48,449 | 5,343 | 2013 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net-lease self-storage facilities in New York City, NY | — | 29,223 | 77,202 | 714 | — | 29,223 | 77,916 | 107,139 | 8,175 | Various | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net-lease self-storage facility in Hilo, HI | — | 769 | 12,869 | — | — | 769 | 12,869 | 13,638 | 1,361 | 2007 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net-lease self-storage facility in Clearwater, FL | — | 1,247 | 5,733 | — | — | 1,247 | 5,733 | 6,980 | 690 | 2001 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in Gadki, Poland | — | 10,422 | 47,727 | 57 | (3,714) | 9,756 | 44,736 | 54,492 | 5,185 | 2007; 2010 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net-lease self-storage facility in Orlando, FL | — | 1,070 | 8,686 | — | — | 1,070 | 8,686 | 9,756 | 986 | 2000 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Lewisville, TX | — | 3,485 | 11,263 | — | — | 3,485 | 11,263 | 14,748 | 1,256 | 2004 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Wageningen, Netherlands | — | 5,227 | 18,793 | — | (1,266) | 4,894 | 17,860 | 22,754 | 2,039 | 2013 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net-lease self-storage facility in Palm Coast, FL | — | 1,994 | 4,982 | — | — | 1,994 | 4,982 | 6,976 | 704 | 2001 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Auburn Hills, MI | — | 1,910 | 6,773 | — | — | 1,910 | 6,773 | 8,683 | 771 | 2012 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net-lease self-storage facility in Holiday, FL | — | 1,730 | 4,213 | — | — | 1,730 | 4,213 | 5,943 | 580 | 1975 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Tempe, AZ | 13,417 | — | 19,533 | — | — | — | 19,533 | 19,533 | 2,152 | 2000 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Tucson, AZ | — | 2,448 | 17,353 | 869 | — | 2,448 | 18,222 | 20,670 | 1,940 | 2002 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Drunen, Netherlands | — | 2,316 | 9,370 | — | (745) | 2,169 | 8,772 | 10,941 | 976 | 2014 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility New Concord, OH | 1,248 | 958 | 2,309 | — | — | 958 | 2,309 | 3,267 | 313 | 1999 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Krakow, Poland | — | 2,381 | 6,212 | — | (548) | 2,229 | 5,816 | 8,045 | 652 | 2003 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Gelsenkirchen, Germany | 11,156 | 2,178 | 17,097 | — | (1,230) | 2,039 | 16,006 | 18,045 | 1,774 | 2000 | 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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in Mszczonow and Tomaszow Mazowiecki, Poland | — | 8,782 | 53,575 | — | (3,979) | 8,222 | 50,156 | 58,378 | 6,025 | 1995; 2000 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Plymouth, MN | — | 2,871 | 26,353 | 686 | — | 2,871 | 27,039 | 29,910 | 2,982 | 1999 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in San Antonio, TX | — | 3,094 | 16,624 | — | — | 3,094 | 16,624 | 19,718 | 1,867 | 2002 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Sered, Slovakia | — | 3,428 | 28,005 | — | (2,006) | 3,209 | 26,218 | 29,427 | 2,935 | 2004 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Tuchomerice, Czech Republic | — | 7,864 | 27,006 | — | (2,226) | 7,362 | 25,282 | 32,644 | 2,794 | 1998 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Warsaw, Poland | 31,475 | — | 44,990 | — | (2,871) | — | 42,119 | 42,119 | 4,540 | 2015 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Kaunas, Lithuania | 34,541 | 10,199 | 47,391 | — | (3,675) | 9,548 | 44,367 | 53,915 | 5,022 | 2008 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net-lease student housing facility in Jacksonville, FL | 11,562 | 906 | 17,020 | — | — | 906 | 17,020 | 17,926 | 1,834 | 2015 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in Houston, TX | — | 791 | 1,990 | — | — | 791 | 1,990 | 2,781 | 234 | 1972 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Oak Creek, WI | — | 2,858 | 11,055 | — | — | 2,858 | 11,055 | 13,913 | 1,310 | 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 | 4,527 | Various | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Perrysburg, OH | — | 806 | 11,922 | — | — | 806 | 11,922 | 12,728 | 1,483 | 1974 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Dillon, SC | — | 620 | 46,319 | 434 | — | 620 | 46,753 | 47,373 | 4,422 | 2019 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Zabia Wola, Poland | 14,507 | 4,742 | 23,270 | 5,636 | (2,118) | 4,439 | 27,091 | 31,530 | 2,974 | 1999 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Buffalo Grove, IL | — | 2,224 | 6,583 | — | — | 2,224 | 6,583 | 8,807 | 749 | 1992 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in McHenry, IL | — | 5,794 | 21,141 | — | — | 5,794 | 21,141 | 26,935 | 3,539 | 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 | 1,459 | 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 | 5,454 | 2007 | Dec. 2018 | 37 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in San Luis Potosi, Mexico | — | 2,787 | 12,945 | — | — | 2,787 | 12,945 | 15,732 | 1,527 | 2009 | Dec. 2018 | 39 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Legnica, Poland | — | 995 | 9,787 | 6,007 | (1,088) | 930 | 14,771 | 15,701 | 1,915 | 2002 | Dec. 2018 | 29 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Meru, France | — | 4,231 | 14,731 | 8 | (1,186) | 3,966 | 13,818 | 17,784 | 2,094 | 1997 | Dec. 2018 | 29 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Education facility in Portland, OR | — | 2,396 | 23,258 | 4,177 | — | 2,396 | 27,435 | 29,831 | 3,355 | 2006 | Feb. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Morrisville, NC | — | 2,374 | 30,140 | 2,172 | — | 2,374 | 32,312 | 34,686 | 3,375 | 1998 | Mar. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Inwood, WV | — | 3,265 | 36,692 | — | — | 3,265 | 36,692 | 39,957 | 3,817 | 2000 | Mar. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Hurricane, UT | — | 1,914 | 37,279 | — | — | 1,914 | 37,279 | 39,193 | 3,668 | 2011 | Mar. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Bensenville, IL | — | 8,640 | 4,948 | — | 300 | 8,940 | 4,948 | 13,888 | 782 | 1981 | Mar. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Katowice, Poland | — | — | 764 | 15,163 | (484) | — | 15,443 | 15,443 | 1,195 | 2019 | Apr. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Westerville, OH and North Wales, PA | — | 1,545 | 6,508 | — | — | 1,545 | 6,508 | 8,053 | 781 | 1960; 1997 | May 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 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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Fargo, ND; Norristown, PA; and Atlanta, TX | — | 1,616 | 5,589 | — | — | 1,616 | 5,589 | 7,205 | 818 | Various | May 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Chihuahua and Juarez, Mexico | — | 3,426 | 7,286 | — | — | 3,426 | 7,286 | 10,712 | 965 | 1983; 1986; 1991 | May 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Statesville, NC | — | 1,683 | 13,827 | — | — | 1,683 | 13,827 | 15,510 | 1,489 | 1979 | Jun. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Searcy, AR and Conestoga, PA | — | 4,290 | 51,410 | 21,027 | — | 4,678 | 72,049 | 76,727 | 6,511 | 1950; 1951 | Jun. 2019; Apr. 2021 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Hartford and Milwaukee, WI | — | 1,471 | 21,293 | — | — | 1,471 | 21,293 | 22,764 | 2,203 | 1964; 1992; 1993 | Jul. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Brockville and Prescott, Canada | — | 2,025 | 9,519 | — | — | 2,025 | 9,519 | 11,544 | 990 | 1955; 1995 | Jul. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Dordrecht, Netherlands | — | 3,233 | 10,954 | — | (424) | 3,140 | 10,623 | 13,763 | 890 | 1986 | Sep. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in York, PA and Lexington, SC | — | 4,155 | 22,930 | — | — | 4,155 | 22,930 | 27,085 | 2,600 | 1968; 1971 | Oct. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Queretaro, Mexico | — | 2,851 | 12,748 | — | (3) | 2,851 | 12,745 | 15,596 | 1,305 | 1999 | Oct. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Dearborn, MI | — | 1,431 | 5,402 | — | — | 1,431 | 5,402 | 6,833 | 567 | 2002 | Oct. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Houston, TX and Metairie, LA and office facilities in Houston, TX and Mason, OH | — | 6,130 | 24,981 | 2,145 | — | 6,130 | 27,126 | 33,256 | 2,444 | Various | Nov. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Pardubice, Czech Republic | — | 1,694 | 8,793 | 436 | (377) | 1,639 | 8,907 | 10,546 | 742 | 1970 | Nov. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in Brabrand, Denmark and Arlandastad, Sweden | — | 6,499 | 27,899 | 146 | (1,659) | 6,140 | 26,745 | 32,885 | 2,294 | 2012; 2017 | Nov. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Hamburg, PA | — | 4,520 | 34,167 | — | — | 4,520 | 34,167 | 38,687 | 2,994 | 2003 | Dec. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Charlotte, NC | — | 6,481 | 82,936 | — | — | 6,481 | 82,936 | 89,417 | 7,128 | 1995 | Dec. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Buffalo Grove, IL | — | 3,287 | 10,167 | — | — | 3,287 | 10,167 | 13,454 | 1,049 | 1987 | Dec. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Hvidovre, Denmark | — | 1,931 | 4,243 | — | (265) | 1,856 | 4,053 | 5,909 | 436 | 2007 | Dec. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Huddersfield, United Kingdom | — | 8,659 | 29,752 | — | (3,428) | 7,886 | 27,097 | 34,983 | 2,156 | 2005 | Dec. 2019 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Newark, United Kingdom | — | 21,869 | 74,777 | — | (8,170) | 20,020 | 68,456 | 88,476 | 5,111 | 2006 | Jan. 2020 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Langen, Germany | — | 14,160 | 7,694 | 32,169 | (5,999) | 12,461 | 35,563 | 48,024 | 1,695 | 2021 | Jan. 2020 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Aurora, OR | — | 2,914 | 21,459 | — | (5,000) | 2,914 | 16,459 | 19,373 | 1,209 | 1976 | Jan. 2020 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Vojens, Denmark | — | 1,031 | 8,784 | — | (296) | 1,000 | 8,519 | 9,519 | 622 | 2020 | Jan. 2020 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Kitzingen, Germany | — | 4,812 | 41,125 | — | (3,171) | 4,481 | 38,285 | 42,766 | 2,694 | 1967 | Mar. 2020 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Knoxville, TN | — | 2,455 | 47,446 | — | — | 2,455 | 47,446 | 49,901 | 2,988 | 2020 | Jun. 2020 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Bluffton and Plymouth, IN; and Lawrence, KS | — | 674 | 33,519 | 20,542 | — | 1,064 | 53,671 | 54,735 | 2,440 | 1981; 2014; 2021 | Sep 2020; Dec. 2021 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Huntley, IL | — | 5,260 | 26,617 | — | — | 5,260 | 26,617 | 31,877 | 1,500 | 1996 | Sep. 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 | |||||||||||||||||||||||||||
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 facilities in Winter Haven, FL; Belvedere, IL; and Fayetteville, NC | — | 8,232 | 31,745 | — | — | 8,232 | 31,745 | 39,977 | 1,763 | 1954; 1984; 1997 | Oct. 2020 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities in Spain | — | 34,216 | 57,151 | 239 | (8,069) | 31,198 | 52,339 | 83,537 | 2,842 | Various | Oct. 2020 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Little Canada, MN | — | 3,384 | 23,422 | — | — | 3,384 | 23,422 | 26,806 | 1,272 | 1987 | Oct. 2020 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Hurricane, UT | — | 5,154 | 22,893 | 20,517 | — | 5,154 | 43,410 | 48,564 | 1,602 | 2005 | Dec. 2020 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Bethlehem, PA and Waco, TX | — | 4,673 | 19,111 | — | — | 4,673 | 19,111 | 23,784 | 984 | Various | Dec. 2020 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Pleasanton, KS; Savage, MN; Grove City, OH; and Mahanoy City, PA | — | 7,717 | 21,569 | — | — | 7,717 | 21,569 | 29,286 | 1,078 | Various | Dec. 2020 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outdoor advertising in Fort Washington, Huntington Valley, and West Chester, PA | — | — | 492 | — | — | — | 492 | 492 | 24 | 2011; 2014; 2016 | Jan. 2021 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in Grove City, OH and Anderson, SC | — | 1,415 | 15,151 | — | — | 1,415 | 15,151 | 16,566 | 724 | 1995; 2001 | Feb. 2021 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office and retail facilities in NJ and PA | — | 17,537 | 25,987 | — | — | 17,537 | 25,987 | 43,524 | 1,226 | Various | Feb. 2021 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Land and warehouse facilities in CA | — | 8,513 | 45,669 | 6 | — | 8,516 | 45,672 | 54,188 | 2,158 | Various | Feb. 2021 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Research and development facility in Wageningen, Netherlands | — | 1,429 | 5,777 | 18,848 | 1,244 | 1,494 | 25,804 | 27,298 | 315 | 2022 | Mar. 2021 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities in France | — | 15,954 | 104,578 | — | (11,082) | 14,487 | 94,963 | 109,450 | 4,163 | 1968; 1981; 1983 | Apr. 2021 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Detroit, MI | — | 3,625 | 47,743 | — | — | 3,625 | 47,743 | 51,368 | 2,008 | 1991 | Apr. 2021 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Solihull, United Kingdom | — | 42,137 | 123,315 | — | (21,832) | 36,577 | 107,043 | 143,620 | 4,450 | 2021 | May 2021 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net-lease student housing facility in New Rochelle, NY | — | 3,617 | 21,590 | — | — | 3,617 | 21,590 | 25,207 | 896 | 2018 | May 2021 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Groveport, OH | — | — | 26,639 | 2,904 | — | — | 29,543 | 29,543 | 1,165 | 1982 | May 2021 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Dakota, IL | — | 1,970 | 50,369 | — | — | 1,970 | 50,369 | 52,339 | 2,066 | 1978 | May 2021 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in San Jose, CA | — | 12,808 | 31,714 | — | — | 12,808 | 31,714 | 44,522 | 1,299 | 1984 | May 2021 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Opelika, AL | — | 2,115 | 39,980 | — | — | 2,115 | 39,980 | 42,095 | 1,569 | 2005 | Jun. 2021 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in Elk Grove Village and Niles, IL; and Guelph, Canada | — | 12,932 | 25,096 | — | — | 12,932 | 25,096 | 38,028 | 981 | 1962; 1976; 1983 | Jun. 2021 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Rome, NY | — | 1,480 | 47,781 | — | — | 1,480 | 47,781 | 49,261 | 1,865 | 2021 | Jun. 2021 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Frankfort, IN | — | 5,423 | 95,915 | — | — | 5,423 | 95,915 | 101,338 | 3,239 | 2015 | Aug. 2021 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Rogers, MN | — | 1,871 | 20,959 | — | — | 1,871 | 20,959 | 22,830 | 688 | 2005 | Sep. 2021 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Chattanooga, TN | — | 4,859 | 29,302 | — | — | 4,859 | 29,302 | 34,161 | 881 | 2006; 2017 | Oct. 2021 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Mankato, MN | — | 2,979 | 11,619 | — | — | 2,979 | 11,619 | 14,598 | 330 | 1976 | Nov. 2021 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities in Denmark | — | 2,695 | 38,428 | — | (2,157) | 2,553 | 36,413 | 38,966 | 973 | Various | Dec. 2021 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities in Poland | — | 15,110 | 47,511 | — | (3,313) | 14,311 | 44,997 | 59,308 | 1,177 | Various | Dec. 2021 | 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 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 |
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 Cary, IL | — | 4,568 | 31,977 | — | — | 4,568 | 31,977 | 36,545 | 808 | 1975 | Dec. 2021 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities in the Netherlands | — | 9,342 | 32,770 | — | (2,373) | 8,816 | 30,923 | 39,739 | 779 | Various | Dec. 2021 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outdoor advertising in Flemington and Pennsauken, NJ | — | 1,025 | 397 | 832 | — | 1,025 | 1,229 | 2,254 | 18 | Various | Dec. 2021 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Pleasant Prairie, WI | — | 1,443 | 16,532 | — | — | 1,443 | 16,532 | 17,975 | 403 | 2001 | Jan. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Funeral homes in Spain | — | 26,735 | 99,822 | — | (6,953) | 25,266 | 94,338 | 119,604 | 2,145 | Various | Feb. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities in Denmark | — | 3,295 | 35,898 | — | (1,477) | 3,154 | 34,562 | 37,716 | 625 | Various | Various | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Laval, Canada | — | 4,014 | 16,037 | — | (1,237) | 3,766 | 15,048 | 18,814 | 327 | 1966 | Feb. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Chattanooga, TN | — | 5,063 | 36,645 | — | — | 5,063 | 36,645 | 41,708 | 761 | 2003 | Mar. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Coatzacoalcos, Mexico | — | 9,805 | 17,622 | — | — | 9,805 | 17,622 | 27,427 | 301 | 1960 | Apr. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Lowbanks, CA | — | 3,574 | 1,605 | — | — | 3,574 | 1,605 | 5,179 | 27 | 1967 | Apr. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Chicago, IL; Geismar, LA; and Nashville, TN | — | 9,300 | 26,945 | — | — | 9,300 | 26,945 | 36,245 | 437 | Various | May 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial and warehouse facilities in the United States | — | 9,847 | 88,227 | — | — | 9,847 | 88,227 | 98,074 | 1,390 | Various | May 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities in Denmark | — | 2,228 | 31,774 | — | 251 | 2,246 | 32,007 | 34,253 | 443 | Various | Various | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Medina, OH | — | 2,029 | 22,938 | — | — | 2,029 | 22,938 | 24,967 | 311 | 1963 | Jun. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Bree, Belgium | — | — | 73,302 | 42 | 1,972 | — | 75,316 | 75,316 | 954 | 1964 | Jun. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities in Spain | — | 4,906 | 12,825 | — | 813 | 5,131 | 13,413 | 18,544 | 151 | Various | Jul. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial and warehouse facilities in the United States | — | 27,543 | 192,197 | — | — | 27,543 | 192,197 | 219,740 | 2,093 | Various | Jul. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities in Denmark | — | 2,690 | 33,703 | — | 1,312 | 2,789 | 34,916 | 37,705 | 297 | Various | Various | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Austin, TX | 72,295 | 31,095 | 45,393 | — | — | 31,095 | 45,393 | 76,488 | 476 | 1993 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Land in Chicago, IL | 1,885 | 3,873 | — | — | — | 3,873 | — | 3,873 | — | N/A | Aug. 2022 | N/A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facilities in Croatia | 14,788 | 1,367 | 23,337 | — | 1,046 | 1,425 | 24,325 | 25,750 | 255 | 2001; 2006 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse in Streetsboro, OH | 2,576 | 2,435 | 9,333 | — | — | 2,435 | 9,333 | 11,768 | 98 | 1993 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Norcross, GA | 2,936 | 1,795 | 2,676 | — | — | 1,795 | 2,676 | 4,471 | 28 | 1999 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse in University Park, IL | 46,812 | 15,377 | 63,299 | — | — | 15,377 | 63,299 | 78,676 | 663 | 2003 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Oslo, Norway | 43,560 | 15,763 | 33,250 | — | (1,085) | 15,414 | 32,514 | 47,928 | 341 | 2013 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Surprise, AZ; Temple, GA; and Houston, TX | 9,640 | 2,994 | 26,100 | — | — | 2,994 | 26,100 | 29,094 | 274 | 1998; 2007; 2011 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Farmington Hills, MI | 6,188 | 2,195 | 5,213 | — | — | 2,195 | 5,213 | 7,408 | 55 | 2001 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Jonesville, SC | 25,198 | 2,895 | 32,152 | — | — | 2,895 | 32,152 | 35,047 | 337 | 1997 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Albany, GA | 5,232 | 3,108 | 12,220 | — | — | 3,108 | 12,220 | 15,328 | 128 | 1977 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Eagan, MN | 8,573 | 1,298 | 7,445 | — | — | 1,298 | 7,445 | 8,743 | 78 | 2013 | Aug. 2022 | 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 Plymouth, MN | 25,187 | 4,624 | 29,243 | — | — | 4,624 | 29,243 | 33,867 | 306 | 1982 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Dallas/Forth Worth, TX | 4,336 | 3,918 | 9,817 | — | — | 3,918 | 9,817 | 13,735 | 103 | 1990; 2008 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Byron Center, MI | 6,407 | 1,925 | 10,098 | — | — | 1,925 | 10,098 | 12,023 | 106 | 2015 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net-lease hotel in Albion, Mauritius | 10,972 | 7,633 | 29,274 | — | 1,562 | 7,956 | 30,513 | 38,469 | 320 | 2007 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Warstein, Germany | — | 3,917 | 4,049 | 20 | 337 | 4,083 | 4,240 | 8,323 | 44 | 2011 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net-lease hotel in Munich, Germany | 45,331 | 17,892 | 61,405 | — | 3,356 | 18,649 | 64,004 | 82,653 | 671 | 2016 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Plano, TX | 21,221 | 3,667 | 28,073 | — | — | 3,667 | 28,073 | 31,740 | 294 | 2001 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Plymouth, MN | 9,969 | 3,693 | 13,242 | 9 | — | 3,693 | 13,251 | 16,944 | 139 | 1975 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net-lease hotel in Hamburg, Germany | 15,419 | 7,328 | 17,467 | — | 1,050 | 7,639 | 18,206 | 25,845 | 191 | 2017 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail facility in Oslo, Norway | 54,079 | 27,948 | 64,033 | 725 | (2,032) | 27,330 | 63,344 | 90,674 | 672 | 1971 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Jacksonville, FL | 9,310 | 2,084 | 6,673 | — | — | 2,084 | 6,673 | 8,757 | 70 | 2001 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Michalovce, Slovakia | — | 4,538 | 19,009 | — | 996 | 4,730 | 19,813 | 24,543 | 208 | 2006 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Warrenville, IL | 21,433 | 3,285 | 11,666 | 387 | — | 3,285 | 12,053 | 15,338 | 129 | 2001 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office facility in Coralville, IA | — | 2,222 | 35,695 | — | — | 2,222 | 35,695 | 37,917 | 374 | 2015 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net-lease hotel in Stuttgart, Germany | 13,338 | — | 31,276 | — | 1,324 | — | 32,600 | 32,600 | 342 | 1965 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Menomonee Falls, WI | 11,841 | 2,726 | 17,453 | — | — | 2,726 | 17,453 | 20,179 | 183 | 1974 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Iowa Falls, IA | 6,138 | 997 | 8,819 | — | — | 997 | 8,819 | 9,816 | 92 | 2001 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Westlake, OH | — | 1,928 | 24,353 | — | — | 1,928 | 24,353 | 26,281 | 252 | 1972 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Hebron, Ohio and warehouse facility in Strongsville, OH | — | 4,671 | 5,494 | — | — | 4,671 | 5,494 | 10,165 | 54 | 1969; 1999 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Scarsborough, Canada | — | 5,092 | 1,868 | — | — | 5,092 | 1,868 | 6,960 | 18 | 1980 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Specialty facilities in West Des Moines, IA and Clifton Park, NY | — | 3,229 | 17,080 | — | — | 3,229 | 17,080 | 20,309 | 166 | 1971; 2021 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Orzinuovi, Italy | — | 2,473 | 9,892 | — | 815 | 2,636 | 10,544 | 13,180 | 91 | 1978 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outdoor advertising in West Chester, PA | — | — | 559 | — | — | — | 559 | 559 | 10 | 2022 | Oct. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in the United States | — | 11,117 | 41,107 | — | — | 11,117 | 41,107 | 52,224 | 31 | Various | Dec. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Romulus, MI | — | 2,788 | 33,353 | — | — | 2,788 | 33,353 | 36,141 | 5 | 2017 | Dec. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Salisbury, NC | — | 1,308 | 13,082 | — | — | 1,308 | 13,082 | 14,390 | 2 | 2015 | Dec. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 782,663 | $ | 2,628,187 | $ | 10,520,207 | $ | 1,013,116 | $ | (844,878) | $ | 2,400,002 | $ | 10,916,630 | $ | 13,316,632 | $ | 1,672,091 |
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 |
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 | ||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||||||
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. | ||||||||||||||||||||||||
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. | ||||||||||||||||||||||||||||||||||||
Cherry Valley, IL | — | 1,339 | 4,160 | — | — | — | 1,339 | 4,160 | — | 5,499 | 179 | 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 | — | 87 | 785 | — | — | — | 87 | 785 | — | 872 | 28 | 1979 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||
Rockford, IL | — | 454 | 4,724 | — | — | — | 454 | 4,724 | — | 5,178 | 152 | 1957 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||
Peoria, IL | — | 444 | 4,944 | — | 37 | — | 443 | 4,964 | 18 | 5,425 | 215 | 1990 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||
East Peoria, IL | — | 268 | 3,290 | — | 53 | — | 268 | 3,336 | 7 | 3,611 | 138 | 1986 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||
Loves Park, IL | — | 721 | 2,973 | — | 17 | — | 721 | 2,990 | — | 3,711 | 120 | 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 | — | 821 | 3,180 | — | — | — | 821 | 3,180 | — | 4,001 | 134 | 2001 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||
$ | — | $ | 10,389 | $ | 63,218 | $ | 3,622 | $ | 6,101 | $ | (247 | ) | $ | 10,452 | $ | 65,393 | $ | 7,238 | $ | 83,083 | $ | 11,241 |
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 | $ | — | $ | (4,227) | $ | 23,372 | 1978 | Jan. 1998 | ||||||||||||||||||||||||||||||||||||
Retail facility in Freehold, NJ | 2,925 | — | 17,067 | — | (435) | 16,632 | 2004 | Sep. 2012 | ||||||||||||||||||||||||||||||||||||||||||
Office facilities in Corpus Christi, Odessa, San Marcos, and Waco, TX | 713 | 2,089 | 14,211 | — | (1,572) | 14,728 | 1969; 1996; 2000 | Sep. 2012 | ||||||||||||||||||||||||||||||||||||||||||
Retail facilities in Germany | — | 28,734 | 145,854 | 5,582 | (64,558) | 115,612 | Various | Sep. 2012 | ||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Brierley Hill, United Kingdom | — | 2,147 | 12,357 | — | (2,554) | 11,950 | 1996 | Sep. 2012 | ||||||||||||||||||||||||||||||||||||||||||
Retail facilities in El Paso and Fabens, TX | — | 4,777 | 17,823 | — | (102) | 22,498 | Various | Jan. 2014 | ||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Eagan, MN | — | — | 11,548 | — | (628) | 10,920 | 1975 | Jan. 2014 | ||||||||||||||||||||||||||||||||||||||||||
Retail facility in Gronau, Germany | — | 281 | 4,401 | — | (1,013) | 3,669 | 1989 | Jan. 2014 | ||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Mount Carmel, IL | — | 135 | 3,265 | — | (303) | 3,097 | 1896 | Jan. 2014 | ||||||||||||||||||||||||||||||||||||||||||
Retail facility in Vantaa, Finland | — | 5,291 | 15,522 | — | (4,505) | 16,308 | 2004 | Jan. 2014 | ||||||||||||||||||||||||||||||||||||||||||
Retail facility in Linköping, Sweden | — | 1,484 | 9,402 | — | (4,105) | 6,781 | 2004 | Jan. 2014 | ||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Calgary, Canada | — | — | 7,076 | — | (1,232) | 5,844 | 1965 | Jan. 2014 | ||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Fair Bluff, NC and Valencia, PA | — | 5,780 | 40,860 | — | (37,179) | 9,461 | 1968; 1976 | Jan. 2014 | ||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Göppingen, Germany | — | 10,717 | 60,120 | — | (20,026) | 50,811 | 1930 | Jan. 2014 | ||||||||||||||||||||||||||||||||||||||||||
Industrial and office facility in Nagold, Germany | — | 4,553 | 17,675 | — | (1,419) | 20,809 | 1994 | Oct. 2018 | ||||||||||||||||||||||||||||||||||||||||||
Warehouse facilities in Bristol, Leeds, Liverpool, Luton, Newport, Plymouth, and Southampton, United Kingdom | — | 1,062 | 23,087 | — | (1,784) | 22,365 | Various | Oct. 2018 | ||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Gieten, Netherlands | — | — | 15,258 | — | (1,027) | 14,231 | 1985 | Oct. 2018 | ||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Oxnard, CA | — | — | 10,960 | — | (1,427) | 9,533 | 1975 | Oct. 2018 | ||||||||||||||||||||||||||||||||||||||||||
Industrial facilities in Bartow, FL; Momence, IL; Smithfield, NC; Hudson, NY; and Ardmore, OK | — | 4,454 | 87,030 | — | 2,921 | 94,405 | Various | Oct. 2018 | ||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Countryside, IL | — | 563 | 1,457 | — | 37 | 2,057 | 1981 | Oct. 2018 | ||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Clarksville, TN | 2,973 | 1,680 | 10,180 | — | (155) | 11,705 | 1998 | Oct. 2018 | ||||||||||||||||||||||||||||||||||||||||||
Industrial facility in Bluffton, IN | 1,634 | 503 | 3,407 | — | (44) | 3,866 | 1975 | Oct. 2018 | ||||||||||||||||||||||||||||||||||||||||||
Warehouse facility in Houston, TX | — | — | 5,977 | — | (128) | 5,849 | 1972 | Oct. 2018 | ||||||||||||||||||||||||||||||||||||||||||
Warehouse in Chicago, IL | 5,131 | — | 10,517 | — | 26 | 10,543 | 1942 | Aug. 2022 | ||||||||||||||||||||||||||||||||||||||||||
Less: allowance for credit losses | (8,733) | (8,733) | ||||||||||||||||||||||||||||||||||||||||||||||||
$ | 13,376 | $ | 74,250 | $ | 572,653 | $ | 5,582 | $ | (154,172) | $ | 498,313 |
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) | 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 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operating Real Estate – Hotels | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bloomington, MN | $ | — | $ | 3,810 | $ | 29,126 | $ | 3,622 | $ | 6,329 | $ | (314) | $ | 3,874 | $ | 31,265 | $ | 7,434 | $ | 42,573 | $ | 14,303 | 2008 | Jan. 2014 | 34 yrs. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operating Real Estate – Student Housing Facilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Austin, TX | 28,533 | 12,994 | 60,006 | — | 44 | — | 12,994 | 60,033 | 17 | 73,044 | 629 | 2020 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Swansea, United Kingdom | 43,134 | — | 32,884 | — | 33,936 | 3,526 | — | 70,346 | — | 70,346 | 364 | 2022 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operating Real Estate – Self-Storage Facilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loves Park, IL | — | 1,412 | 4,853 | — | 35 | — | 1,412 | 4,862 | 26 | 6,300 | 777 | 1997 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cherry Valley, IL | — | 1,339 | 4,160 | — | 9 | — | 1,339 | 4,160 | 9 | 5,508 | 640 | 1988 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rockford, IL | — | 695 | 3,873 | — | 44 | — | 695 | 3,903 | 14 | 4,612 | 545 | 1979 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rockford, IL | — | 87 | 785 | — | — | — | 87 | 785 | — | 872 | 98 | 1979 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rockford, IL | — | 454 | 4,724 | — | 12 | — | 454 | 4,733 | 3 | 5,190 | 546 | 1957 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Peoria, IL | — | 444 | 4,944 | — | 238 | — | 444 | 5,164 | 18 | 5,626 | 849 | 1990 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
East Peoria, IL | — | 268 | 3,290 | — | 108 | — | 268 | 3,375 | 23 | 3,666 | 528 | 1986 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loves Park, IL | — | 721 | 2,973 | — | 27 | — | 721 | 3,000 | — | 3,721 | 429 | 1978 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Winder, GA | — | 338 | 1,310 | — | 69 | — | 338 | 1,354 | 25 | 1,717 | 218 | 2006 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Winder, GA | — | 821 | 3,180 | — | 34 | — | 821 | 3,198 | 16 | 4,035 | 486 | 2001 | Oct. 2018 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Kissimmee, FL | 6,386 | 2,147 | 17,164 | — | 4 | — | 2,147 | 17,168 | — | 19,315 | 180 | 2005 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
St. Petersburg, FL | 6,842 | 1,505 | 16,229 | — | 4 | — | 1,505 | 16,229 | 4 | 17,738 | 170 | 2007 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Corpus Christi, TX | 2,563 | 904 | 10,779 | — | 40 | — | 904 | 10,819 | — | 11,723 | 114 | 1998 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Palm Desert, CA | 6,481 | 1,036 | 22,714 | — | — | — | 1,036 | 22,714 | — | 23,750 | 238 | 2006 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Kailua-Kona, HI | 3,546 | 1,425 | 12,267 | — | 30 | — | 1,425 | 12,297 | — | 13,722 | 129 | 1991 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Miami, FL | 2,854 | 3,680 | 7,215 | — | 6 | — | 3,680 | 7,215 | 6 | 10,901 | 76 | 1986 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Columbia, SC | 2,875 | 2,481 | 5,217 | — | — | — | 2,481 | 5,217 | — | 7,698 | 55 | 1988 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Kailua-Kona, HI | 3,316 | 2,889 | 16,397 | — | — | — | 2,889 | 16,397 | — | 19,286 | 172 | 2004 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pompano Beach, FL | 2,869 | 1,227 | 10,897 | — | — | — | 1,227 | 10,897 | — | 12,124 | 114 | 1992 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Jensen Beach, FL | 5,294 | 1,544 | 15,841 | — | 42 | — | 1,544 | 15,878 | 5 | 17,427 | 166 | 1989 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dickinson, TX | 6,094 | 1,952 | 8,826 | — | — | — | 1,952 | 8,826 | — | 10,778 | 92 | 2001 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Humble, TX | 4,771 | 813 | 6,459 | — | — | — | 813 | 6,459 | — | 7,272 | 68 | 2009 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Temecula, CA | 6,156 | 2,368 | 20,802 | — | — | — | 2,368 | 20,802 | — | 23,170 | 218 | 2006 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cumming, GA | 2,709 | 655 | 10,455 | — | 5 | — | 655 | 10,455 | 5 | 11,115 | 110 | 1994 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Naples, FL | 10,157 | 6,826 | 20,254 | — | 18 | — | 6,826 | 20,264 | 8 | 27,098 | 213 | 1974 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Valrico, FL | 5,694 | 1,423 | 11,316 | — | 8 | — | 1,423 | 11,316 | 8 | 12,747 | 119 | 2009 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tallahassee, FL | 4,891 | 1,534 | 14,416 | — | 6 | — | 1,534 | 14,416 | 6 | 15,956 | 151 | 1999 | Aug. 2022 | 40 yrs. |
W. P. Carey 2022 10-K– 131 |
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 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sebastian, FL | 1,847 | 529 | 7,917 | — | 10 | — | 529 | 7,927 | — | 8,456 | 83 | 1986 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lady Lake, FL | 3,923 | 928 | 11,881 | — | 7 | — | 928 | 11,881 | 7 | 12,816 | 124 | 2010 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Panama City Beach, FL | 2,605 | 736 | 7,581 | — | — | — | 736 | 7,581 | — | 8,317 | 79 | 1997 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hesperia, CA | — | 1,416 | 18,691 | — | — | — | 1,416 | 18,691 | — | 20,107 | 196 | 2004 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hesperia, CA | — | 639 | 9,412 | — | — | — | 639 | 9,412 | — | 10,051 | 99 | 2007 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hesperia, CA | — | 699 | 12,896 | — | 4 | — | 699 | 12,900 | — | 13,599 | 135 | 1985 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Highland, CA | — | 1,465 | 11,966 | — | — | — | 1,465 | 11,966 | — | 13,431 | 125 | 2003 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lancaster, CA | — | 598 | 12,100 | — | — | — | 598 | 12,100 | — | 12,698 | 127 | 1989 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rialto, CA | — | 3,502 | 16,924 | — | 6 | — | 3,502 | 16,924 | 6 | 20,432 | 178 | 2007 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Thousand Palms, CA | — | 2,465 | 17,632 | — | — | — | 2,465 | 17,632 | — | 20,097 | 185 | 2007 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lilburn, GA | 2,325 | 1,555 | 6,225 | — | 16 | — | 1,555 | 6,225 | 16 | 7,796 | 66 | 1998 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockbridge GA | 1,614 | 308 | 7,238 | — | 43 | — | 308 | 7,268 | 13 | 7,589 | 77 | 2003 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Louisville, KY | 6,564 | 3,115 | 13,908 | — | 115 | — | 3,115 | 14,020 | 3 | 17,138 | 151 | 1998 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
St. Peters, MO | 2,309 | 386 | 5,521 | — | 40 | — | 386 | 5,552 | 9 | 5,947 | 59 | 1991 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Crystal Lake, IL | 2,615 | 1,325 | 6,056 | — | 2 | — | 1,325 | 6,056 | 2 | 7,383 | 64 | 1977 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Las Vegas, NV | 6,328 | 717 | 20,963 | — | 24 | — | 717 | 20,985 | 2 | 21,704 | 220 | 1996 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Panama City Beach, FL | 6,134 | 666 | 17,086 | — | 8 | — | 666 | 17,094 | — | 17,760 | 179 | 2008 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sarasota, FL | 5,204 | 1,076 | 13,597 | — | 7 | — | 1,076 | 13,597 | 7 | 14,680 | 142 | 2003 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sarasota, FL | 3,806 | 638 | 10,175 | — | 8 | — | 638 | 10,175 | 8 | 10,821 | 107 | 2001 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Leesburg, FL | 2,407 | 1,272 | 5,888 | — | — | — | 1,272 | 5,888 | — | 7,160 | 62 | 1988 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Palm Bay, FL | 7,156 | 2,814 | 21,425 | — | 21 | — | 2,814 | 21,425 | 21 | 24,260 | 225 | 2000 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Houston, TX | 4,619 | 1,878 | 8,719 | — | 57 | — | 1,878 | 8,776 | — | 10,654 | 91 | 1971 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hudson, FL | 3,253 | 669 | 6,092 | — | 6 | — | 669 | 6,092 | 6 | 6,767 | 64 | 2008 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Las Vegas, NV | 2,342 | 918 | 12,355 | — | — | — | 918 | 12,355 | — | 13,273 | 129 | 1984 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Las Vegas, NV | 2,212 | 829 | 11,275 | — | 12 | — | 829 | 11,275 | 12 | 12,116 | 118 | 1987 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ithaca, NY | 2,297 | 890 | 4,484 | — | 8 | — | 890 | 4,484 | 8 | 5,382 | 47 | 1988 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Kissimmee, FL | — | 626 | 13,147 | — | — | — | 626 | 13,147 | — | 13,773 | 138 | 2015 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
El Paso, TX | 3,704 | 2,126 | 5,628 | — | — | — | 2,126 | 5,628 | — | 7,754 | 59 | 1983 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
El Paso, TX | 2,542 | 1,053 | 4,583 | — | 3 | — | 1,053 | 4,583 | 3 | 5,639 | 48 | 1980 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
El Paso, TX | 3,612 | 994 | 7,451 | — | 105 | — | 994 | 7,556 | — | 8,550 | 79 | 1980 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
El Paso, TX | 3,628 | 1,295 | 6,318 | — | 36 | — | 1,295 | 6,354 | — | 7,649 | 67 | 1986 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
El Paso, TX | 1,428 | 587 | 3,121 | — | 14 | — | 587 | 3,121 | 14 | 3,722 | 34 | 1985 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
El Paso, TX | 3,718 | 1,143 | 5,894 | — | 92 | — | 1,143 | 5,986 | — | 7,129 | 63 | 1980 | Aug. 2022 | 40 yrs. |
W. P. Carey 2022 10-K– 132 |
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 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fernandina Beach, FL | 7,269 | 2,664 | 25,000 | — | 7 | — | 2,664 | 25,007 | — | 27,671 | 262 | 1986 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Kissimmee, FL | 3,448 | 2,149 | 6,223 | — | 20 | — | 2,149 | 6,234 | 9 | 8,392 | 65 | 1981 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Houston, TX | 2,758 | 1,350 | 6,257 | — | 12 | — | 1,350 | 6,257 | 12 | 7,619 | 66 | 1998 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Houston, TX | 2,957 | 1,112 | 8,044 | — | 16 | — | 1,112 | 8,055 | 5 | 9,172 | 85 | 2001 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Portland, OR | 6,348 | 994 | 10,176 | — | — | — | 994 | 10,176 | — | 11,170 | 107 | 2000 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Greensboro, NC | 4,036 | 1,389 | 15,175 | — | — | — | 1,389 | 15,175 | — | 16,564 | 159 | 1953 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Avondale, LA | 3,422 | 1,154 | 9,090 | — | — | — | 1,154 | 9,090 | — | 10,244 | 95 | 2008 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Washington, D.C. | 6,470 | 3,371 | 13,655 | — | — | — | 3,371 | 13,655 | — | 17,026 | 143 | 1962 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Kissimmee, FL | — | 1,770 | 7,034 | — | 10 | — | 1,770 | 7,034 | 10 | 8,814 | 74 | 2000 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Milford, MA | — | 951 | 11,935 | — | 1 | — | 951 | 11,935 | 1 | 12,887 | 125 | 2003 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Millsboro, DE | — | 1,180 | 14,286 | — | — | — | 1,180 | 14,286 | — | 15,466 | 150 | 2001 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
New Castle, DE | 4,367 | 1,110 | 15,787 | — | — | — | 1,110 | 15,787 | — | 16,897 | 165 | 2005 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rehoboth, DE | 8,215 | 1,565 | 18,284 | — | 10 | — | 1,565 | 18,284 | 10 | 19,859 | 192 | 1999 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Chicago, IL | — | 787 | 4,931 | — | 67 | — | 787 | 4,971 | 27 | 5,785 | 53 | 1990 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gilroy, CA | — | 3,058 | 13,014 | — | 8 | — | 3,058 | 13,022 | — | 16,080 | 137 | 1999 | Aug. 2022 | 40 yrs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 292,647 | $ | 122,253 | $ | 906,396 | $ | 3,622 | $ | 41,843 | $ | 3,212 | $ | 122,317 | $ | 947,171 | $ | 7,838 | $ | 1,077,326 | $ | 28,295 |
W. P. Carey 2022 10-K– 133 |
Reconciliation of Real Estate Subject to Operating Leases | |||||||||||||||||
Years Ended December 31, | |||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||
Beginning balance | $ | 11,677,185 | $ | 10,736,752 | $ | 9,703,504 | |||||||||||
Acquisitions | 997,937 | 1,144,757 | 555,032 | ||||||||||||||
Acquisitions through CPA:18 Merger | 881,613 | — | — | ||||||||||||||
Foreign currency translation adjustment | (269,272) | (267,018) | 290,559 | ||||||||||||||
Dispositions | (165,516) | (80,129) | (167,671) | ||||||||||||||
Reclassification from real estate under construction | 147,982 | 86,179 | 176,211 | ||||||||||||||
Reclassification from direct financing leases | 67,001 | 76,929 | 183,789 | ||||||||||||||
Impairment charges | (36,624) | (24,246) | (26,343) | ||||||||||||||
Capital improvements | 29,419 | 14,589 | 35,722 | ||||||||||||||
Reclassification to assets held for sale | (13,093) | (10,628) | (14,051) | ||||||||||||||
Ending balance | $ | 13,316,632 | $ | 11,677,185 | $ | 10,736,752 |
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 Real Estate Subject to Operating Leases | |||||||||||||||||
Years Ended December 31, | |||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||
Beginning balance | $ | 1,448,020 | $ | 1,206,912 | $ | 950,452 | |||||||||||
Depreciation expense | 298,972 | 286,347 | 259,337 | ||||||||||||||
Dispositions | (47,463) | (17,582) | (24,786) | ||||||||||||||
Foreign currency translation adjustment | (26,400) | (25,298) | 24,764 | ||||||||||||||
Reclassification to assets held for sale | (1,038) | (2,359) | (2,855) | ||||||||||||||
Ending balance | $ | 1,672,091 | $ | 1,448,020 | $ | 1,206,912 |
Reconciliation of Accumulated Depreciation for Land, Buildings and Improvements Subject to Operating Leases | |||||||||||
Years Ended December 31, | |||||||||||
2019 | 2018 | 2017 | |||||||||
Beginning balance | $ | 724,550 | $ | 613,543 | $ | 472,294 | |||||
Depreciation expense | 232,927 | 162,119 | 144,183 | ||||||||
Dispositions | (6,109 | ) | (41,338 | ) | (17,770 | ) | |||||
Foreign currency translation adjustment | (916 | ) | (9,774 | ) | 14,836 | ||||||
Ending balance | $ | 950,452 | $ | 724,550 | $ | 613,543 |
Reconciliation of Operating Real Estate | |||||||||||||||||
Years Ended December 31, | |||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||
Beginning balance | $ | 83,673 | $ | 83,476 | $ | 83,083 | |||||||||||
Acquisitions through CPA:18 Merger | 922,161 | — | — | ||||||||||||||
Reclassification from real estate under construction | 66,820 | — | — | ||||||||||||||
Foreign currency translation adjustment | 3,526 | — | — | ||||||||||||||
Capital improvements | 1,146 | 197 | 393 | ||||||||||||||
Ending balance | $ | 1,077,326 | $ | 83,673 | $ | 83,476 |
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 Operating Real Estate | |||||||||||||||||
Years Ended December 31, | |||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||
Beginning balance | $ | 16,750 | $ | 14,004 | $ | 11,241 | |||||||||||
Depreciation expense | 11,541 | 2,746 | 2,763 | ||||||||||||||
Foreign currency translation adjustment | 4 | — | — | ||||||||||||||
Ending balance | $ | 28,295 | $ | 16,750 | $ | 14,004 |
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 — Cipriani | 10.0 | % | Jul. 2024 | $ | 28,000 | |||||||||||||||
Financing agreement — observation wheel | 7.5 | % | Jun. 2023 | 11,250 | ||||||||||||||||
$ | 39,250 |
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, | |||||||||||||||||
2022 | 2021 | 2020 | |||||||||||||||
Beginning balance | $ | 24,143 | $ | 24,143 | $ | 47,737 | |||||||||||
Repayments | (34,000) | — | (11,000) | ||||||||||||||
28,000 | — | — | |||||||||||||||
Gain on repayment of secured loan receivable | 10,613 | — | — | ||||||||||||||
10,494 | — | (12,594) | |||||||||||||||
Ending balance | $ | 39,250 | $ | 24,143 | $ | 24,143 |
W. P. Carey |
W. P. Carey |
W. P. Carey 2022 10-K– 137 |
W. P. Carey |
Exhibit No. | Description | Method of Filing | |||||||||||||
3.1 | Articles of Amendment and Restatement of W. P. Carey Inc. dated June 15, 2017 | 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. dated June 15, 2017 | 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 | |||||||||||||||
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 | ||||||||||||||
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 | ||||||||||||||
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 | |||||||||||||
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 | |||||||||||||
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 |
W. P. Carey 2022 10-K– 139 |
Exhibit No. | Description | Method of Filing | ||||||||||||
4.11 | 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 | ||||||||||||
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 | |||||||||||||
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 | |||||||||||||
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 | |||||||||||||
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 | |||||||||||||
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 | |||||||||||||
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 | |||||||||||||
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 | |||||||||||||
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 | |||||||||||||
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 | |||||||||||||
4.22 | Form of Note representing $500 Million Aggregate Principal Amount 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 | ||||||||||||
4.23 | Seventh Supplemental Indenture, dated February 25, 2021, 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 February 25, 2021 | ||||||||||||
4.24 | Form of Note representing $425 Million Aggregate Principal Amount of 2.250% Senior Notes Due 2033 | Incorporated by reference to Exhibit 4.3 to Current Report on Form 8-K filed February 25, 2021 | ||||||||||||
4.25 | Fifth Supplemental Indenture dated as of March 8, 2021, 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 8, 2021 |
W. P. Carey 2022 10-K– 140 |
Exhibit No. | Description | Method of Filing | ||||||||||||
4.26 | Form of Note representing €525 Million Aggregate Principal Amount of 0.950% Senior Notes Due 2030 | Incorporated by reference to Exhibit 4.1 to Current Report on Form 8-K filed March 8, 2021 | ||||||||||||
4.27 | Eighth Supplemental Indenture, dated October 15, 2021, by and between W. P. Carey Inc., as issuer, and U.S. Bank National Association, as trustee | Incorporated by reference Exhibit 4.2 to Current Report on Form 8-K filed October 15, 2021 | ||||||||||||
4.28 | Form of Note representing $350 Million Aggregate Principal Amount of 2.450% Senior Notes due 2032 | Incorporated by reference Exhibit 4.3 to Current Report on Form 8-K filed October 15, 2021 | ||||||||||||
4.29 | Form of Note Representing €150,000,000 Aggregate Principal Amount of 3.41% Senior Notes due 2029 | Incorporated by reference to Exhibit 4.1 to Quarterly Report on Form 10-Q filed November 4, 2022 | ||||||||||||
4.30 | Form of Note Representing €200,000,000 Aggregate Principal Amount of 3.70% Senior Notes due 2032 | Incorporated by reference to Exhibit 4.2 to Quarterly Report on Form 10-Q filed November 4, 2022 | ||||||||||||
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 | ||||||||||||
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 |
W. P. Carey 2022 10-K– 141 |
Exhibit No. | Description | Method of Filing | ||||||||||||
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 | ||||||||||||||
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 | Incorporated by reference to Exhibit 10.1 to Current Report on Form 8-K filed February 20, 2020 | |||||||||||||
First Amendment (LIBOR Transition), dated as of December 1, 2021, to the Fourth Amended and Restated Credit Agreement, dated as of February 20, 2020, among W. P. Carey Inc. and Bank of America, N.A., as administrative agent | Incorporated by reference to Exhibit 10.18 to Annual Report on Form 10-K filed February 11, 2022 | |||||||||||||
10.15 | Second Amendment, dated as of April 19, 2022, to the Fourth Amended and Restated Credit Agreement, dated as of February 20, 2020, by and among W. P. Carey Inc. as Borrower, certain Subsidiaries of W. P. Carey identified therein, from time to time 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 | Incorporated by reference to Exhibit 10.1 to Current Report on Form 8-K filed April 22, 2022 | ||||||||||||
10.16 | Third Amendment, dated as of January 26, 2023, to the Fourth Amended and Restated Credit Agreement, dated as of February 20, 2020, is entered into among W. P. Carey Inc., as Parent Borrower, each of the Lenders party hereto, each of the L/C Issuers party hereto, and Bank of America, N.A., as administrative agent | Filed herewith | ||||||||||||
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 | 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 | |||||||||||||
Agency Agreement dated as of March 8, 2021, 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 March 8, 2021 |
W. P. Carey 2022 10-K– 142 |
Exhibit No. | Description | Method of Filing | ||||||||||||
10.21 | Equity Sales Agreement, dated | Incorporated by reference to Exhibit 1.1 to Current Report on Form 8-K, filed |
May 3, 2022 | ||||||||||||||
10.22 | Form of Forward Confirmation | Incorporated by reference to Exhibit 1.2 to Current Report on Form 8-K, filed May 3, 2022 | ||||||||||||
10.23 | Note Purchase Agreement, dated August 31, 2022, by and among W. P. Carey |
No. | |||||||||||||||
Incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K filed September | |||||||||||||||
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 | |||||||||||||
W. P. Carey 2022 10-K– 143 |
Exhibit No. | Description | Method of Filing | |||||||||||||
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 | |||||||||||||
104 | Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101) | 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 10, 2023 | ||||||||||||
Jason E. Fox | (Principal Executive Officer) | |||||||||||||
/s/ ToniAnn Sanzone | Chief Financial Officer | February 10, 2023 | ||||||||||||
ToniAnn Sanzone | (Principal Financial Officer) | |||||||||||||
/s/ Brian Zander | Chief Accounting Officer | February 10, 2023 | ||||||||||||
Brian Zander | (Principal Accounting Officer) | |||||||||||||
/s/ Christopher J. Niehaus | Chairman of the Board and Director | February 10, 2023 | ||||||||||||
Christopher J. Niehaus | ||||||||||||||
/s/ Mark A. Alexander | Director | February 10, 2023 | ||||||||||||
Mark A. Alexander | ||||||||||||||
Constantin H. Beier | ||||||||||||||
February 10, 2023 | ||||||||||||||
Tonit M. Calaway | ||||||||||||||
/s/ Peter J. Farrell | Director | February | ||||||||||||
Peter J. Farrell | ||||||||||||||
/s/ Robert J. Flanagan | Director | February | ||||||||||||
Robert J. Flanagan | ||||||||||||||
/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 | ||||||||||||||
/s/ Elisabeth Stheeman | Director | February 10, 2023 | ||||||||||||
Elisabeth Stheeman |
W. P. Carey |
Exhibit No. | Description | Method of Filing | |||||||||||||
3.1 | Articles of Amendment and Restatement of W. P. Carey Inc. dated June 15, 2017 | ||||||||||||||
3.2 | Fifth Amended and Restated Bylaws of W. P. Carey Inc. dated June 15, 2017 | ||||||||||||||
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 | |||||||||||||||
Third Supplemental Indenture, dated January 26, 2015, by and between W. P. Carey Inc., as issuer, and U.S. Bank National Association, as trustee | |||||||||||||||
Form of Note representing $450 Million Aggregate Principal Amount of 4.000% Senior Notes due 2025 | |||||||||||||||
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 | |||||||||||||||
Form of Note representing $350 Million Aggregate Principal Amount of 4.250% Senior Notes due 2026 | |||||||||||||||
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 |
4.10 | ||||||||||
No. | ||||||||||
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. |
No. | Description | Method of Filing | ||||||||||||
4.11 | Form of Note representing €500 Million Aggregate Principal Amount of 2.250% Senior Notes due 2024 | |||||||||||||
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 | ||||||||||||||
Form of Note representing €500 Million Aggregate Principal Amount of 2.125% Senior Notes due 2027 | ||||||||||||||
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 | ||||||||||||||
Form of Note representing €500 Million Aggregate Principal Amount of 2.250% Senior Notes due 2026 | ||||||||||||||
Fifth Supplemental Indenture, dated June 14, 2019, by and between W. P. Carey Inc., as issuer, and U.S. Bank National Association, as trustee | ||||||||||||||
Form of Note representing $325 Million Aggregate Principal Amount of 3.850% Senior Notes due 2029 | ||||||||||||||
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 | ||||||||||||||
Form of Note representing €500 Million Aggregate Principal Amount of 1.350% Senior Notes due 2028 | ||||||||||||||
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 | ||||||||||||||
4.22 | Form of Note representing $500 Million Aggregate Principal Amount of 2.400% Senior Notes due 2031 | |||||||||||||
4.23 | Seventh Supplemental Indenture, dated February 25, 2021, by and between W. P. Carey Inc., as issuer, and U.S. Bank National Association, as trustee | |||||||||||||
4.24 | Form of Note representing $425 Million Aggregate Principal Amount of 2.250% Senior Notes Due 2033 | |||||||||||||
4.25 | Fifth Supplemental Indenture dated as of March 8, 2021, 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 | ||||||||||||
4.26 | Form of Note representing €525 Million Aggregate Principal Amount of 0.950% Senior Notes Due 2030 | |||||||||||||
4.27 | Eighth Supplemental Indenture, dated October 15, 2021, by and between W. P. Carey Inc., as issuer, and U.S. Bank National Association, as trustee | |||||||||||||
4.28 | Form of Note representing $350 Million Aggregate Principal Amount of 2.450% Senior Notes due 2032 | |||||||||||||
4.29 | Form of Note Representing €150,000,000 Aggregate Principal Amount of 3.41% Senior Notes due 2029 | |||||||||||||
4.30 | Form of Note Representing €200,000,000 Aggregate Principal Amount of 3.70% Senior Notes due 2032 | |||||||||||||
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 * | |||||||||||||
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 |
No. | Description | Method of Filing | ||||||||||||
10.12 | W. P. Carey Inc. 2009 Non-Employee Directors’ Incentive Plan * | |||||||||||||
10.13 | ||||||||||||||
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 | ||||||||||||||
First Amendment (LIBOR Transition), dated as of December 1, 2021, to the Fourth Amended and Restated Credit Agreement, dated as of February 20, 2020, among W. P. Carey Inc. and Bank of America, N.A., as administrative agent | ||||||||||||||
10.15 | Second Amendment, dated as of April 19, 2022, to the Fourth Amended and Restated Credit Agreement, dated as of February 20, 2020, by and among W. P. Carey Inc. as Borrower, certain Subsidiaries of W. P. Carey identified therein, from time to time 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 | |||||||||||||
10.16 | Third Amendment, dated as of January 26, 2023, to the Fourth Amended and Restated Credit Agreement, dated as of February 20, 2020, is entered into among W. P. Carey Inc., as Parent Borrower, each of the Lenders party hereto, each of the L/C Issuers party hereto, and Bank of America, N.A., as administrative agent | |||||||||||||
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 | ||||||||||||||
Agency Agreement dated as of March 8, 2021, 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 |
Exhibit No. | Description | Method of Filing | ||||||||||||
10.21 | Equity Sales Agreement, dated | |||||||||||||
10.23 | Note Purchase Agreement, dated | |||||||||||||
No. | |||||||||||||||
Preferability letter of Independent Registered Public Accounting Firm | |||||||||||||||
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 |
No. | Description | Method of Filing | |||||||||||||
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 | |||||||||||||
104 | Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101) | Filed herewith |