8/1/2013

W.P. Carey will acquire a non-traded real estate investment trust that it manages, Corporate Property Associates 16-Global, in an all-stock deal that values the REIT being acquired at $11.25 a share. CPA 16-Global's net asset value at the end of 2012 was $8.70 a share. W.P. Carey will take on debt worth about $1.7 billion through the transaction, according to the company's website.

Related Summaries