Exhibit 99.1
FOR IMMEDIATE RELEASE
     
COMPANY CONTACT:
  PRESS CONTACT:
Kristina McMenamin
  Guy Lawrence
W. P. Carey & Co. LLC
  Ross & Lawrence
212-492-8995
  212-308-3333
kmcmenamin@wpcarey.com
  gblawrence@rosslawpr.com
W. P. Carey Announces Fourth Quarter and Year-End 2009 Financial Results
New York, NY — February 25, 2010 — Investment firm W. P. Carey & Co. LLC (NYSE: WPC) today reported financial results for the fourth quarter and year ended December 31, 2009.
QUARTERLY AND YEAR-END RESULTS
  Cash flows from operating activities for the year ended December 31, 2009 increased to $74.5 million from $63.2 million for the prior year.
 
  Adjusted cash flow from operating activities for the year ended December 31, 2009 increased to $93.9 million, compared to $89.4 million for 2008.
 
  Total revenues net of reimbursed expenses for the fourth quarter of 2009 were $48.2 million, compared to $51.6 million for the fourth quarter of 2008. Total revenues net of reimbursed expenses for the year ended December 31, 2009 were $187.2 million, compared to $197.4 million for 2008. Reimbursed expenses are excluded from total revenues because they have no impact on net income.
 
  Net income for the fourth quarter of 2009 was $23.0 million, compared to $21.9 million for the same period in 2008. For the year ended December 31, 2009, net income was $69.0 million, compared to $78.0 million for 2008.
 
  For the fourth quarter of 2009, funds from operations, as adjusted (AFFO), were $33.7 million or $0.83 per diluted share, compared to $33.8 million or $0.84 per diluted share for the same period in 2008. AFFO for the year ended December 31, 2009 was $122.9 million or $3.09 per diluted share, compared to $124.5 million or $3.09 per diluted share for 2008.
 
  During 2009, we recorded impairment charges of $10.4 million. We currently estimate that our affiliated CPA® REITs will record impairment charges aggregating approximately $170.0 million during 2009, which reduced the amount of income we recognize from these equity investments by approximately $11.5 million for the year. We received approximately $14.2 million in cash distributions from our equity ownership in the CPA® REITs for the year ended December 31, 2009.
 
  Further information concerning AFFO and adjusted cash flow from operating activities, non-GAAP supplemental performance metrics, is presented in the accompanying tables.
INVESTMENT, FUNDRAISING AND FINANCING ACTIVITY
  Investment volume, for our own portfolio and on behalf of the CPA® REITs, for the year ended December 31, 2009 was $547.7 million, compared to $457.0 million for 2008. International investments comprised 36% of our total investments during 2009, as compared to 46% during 2008, and we expect that international transactions will continue to form a significant portion of the investments we structure.
  In the fourth quarter, we closed four transactions on behalf of the CPA® REITs: a $15.0 million sale leaseback with OBI Group, which is our fourth transaction with this German DIY retailer; a $45.0 million acquisition of US Oncology’s corporate headquarters; a $33.0 million acquisition of Mori Seiki’s North American headquarters; and a $51.0 million sale leaseback with Spanish food retailer Eroski, which was the first tranche of a total $104.0 million transaction that we completed in February 2010.
  We continue to raise investor capital through our latest CPA® REIT offering, CPA®:17 — Global, so that we may take advantage of attractive investment opportunities that we believe are afforded by the current market environment. To date, CPA®:17 — Global has raised more than $850.0 million of its up-to $2.0 billion offering. Generally, our month over month fundraising

 

 


The following information was filed by W. P. Carey Inc. (WPC) on Thursday, February 25, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate W. P. Carey Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by W. P. Carey Inc..

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account