Exhibit 99.1

Filed by W. P. Carey & Co. LLC

Pursuant to Rule 425 under the Securities Act of 1933

and deemed filed pursuant to Rule 14a-12 of the Securities Exchange Act of 1934

Subject Company: W. P. Carey & Co. LLC

(Commission File Number: 001-13779)

FOR IMMEDIATE RELEASE

 

COMPANY CONTACT:    PRESS CONTACT:
Cheryl Perry    Guy Lawrence
W. P. Carey & Co. LLC    Ross & Lawrence
212-492-8995    212-308-3333
cperry@wpcarey.com    gblawrence@rosslawpr.com

W. P. Carey Announces Fourth Quarter and Year-End 2011 Financial Results

New York, NY – February 28, 2012 – Investment firm W. P. Carey & Co. LLC (NYSE: WPC) today reported financial results for the fourth quarter and year-ended December 31, 2011.

QUARTERLY AND YEAR-END RESULTS

 

   

Funds from operations—as adjusted (AFFO) for the fourth quarter of 2011 was $35.2 million or $0.88 per diluted share, compared to $36.3 million or $0.90 per diluted share for the fourth quarter of 2010. AFFO for the year ended December 31, 2011 was $188.9 million or $4.71 per diluted share, compared to $130.9 million or $3.27 per diluted share for 2010.

 

   

Cash flow from operating activities for the year ended December 31, 2011 was $80.1 million, compared to $86.4 million for 2010, while adjusted cash flow from operating activities was $98.6 million for 2011, compared to $88.6 million for 2010.

 

   

Total revenues net of reimbursed expenses for the fourth quarter of 2011 were $47.8 million, compared to $65.0 million for the fourth quarter of 2010. Total revenues net of reimbursed expenses for the year ended December 31, 2011 were $271.6 million, compared to $209.8 million in 2010. Reimbursed expenses are excluded from total revenues because they have no impact on net income.

 

   

Net Income for the fourth quarter of 2011 was $9.1 million, compared to $19.8 million for the same period in 2010. For the year ended December 31, 2011, net income was $139.1 million, compared to $74.0 million for 2010. Results from operations in our investment management segment were significantly higher in 2011, primarily due to revenue recognized in connection with the merger between CPA®:14 and CPA®:16 – Global, which was completed in May.

 

   

For the year ended December 31, 2011, we received approximately $34.9 million in cash distributions from our equity ownership in the CPA® REITs.

 

   

Further information concerning AFFO and adjusted cash flow from operating activities—non-GAAP supplemental performance metrics—is presented in the accompanying tables and related notes.

PROPOSED MERGER OF W. P. CAREY AND CPA®:15 AND CONVERSION OF W. P. CAREY TO REIT

 

   

On February 21, 2012, we announced that our Board of Directors had approved our conversion to a real estate investment trust (“REIT”) and that our Board of Directors and the Board of Directors of our publicly held, non-traded REIT affiliate, Corporate Property Associates 15 Incorporated (“CPA®:15”), had unanimously approved a definitive merger agreement pursuant to which W. P. Carey will acquire CPA®:15 immediately following the REIT conversion. These transactions are subject to requisite shareholder approvals and other closing conditions. If the proposed merger is approved and the other closing conditions are satisfied, we currently expect that the closing will occur by the third quarter of 2012, although there can be no assurance of such timing.

CPA® :17 – GLOBAL ACTIVITY

 

   

CPA®:17– Global’s follow-on offering was declared effective by the SEC in April 2011, and its initial public offering was terminated. We have raised more than $2 billion on behalf of CPA®:17 – Global since beginning fundraising in December 2007. The follow-on offering is for up to an additional $1 billion of CPA®:17 – Global’s common stock.

 

   

Investment volume for CPA®:17 – Global in the fourth quarter of 2011 was approximately $133.7 million.

 

   

Fourth quarter transactions included acquisitions of nine self-storage properties totaling $26.0 million, and a $57.0 million construction financing package of three modern big-box retail sites in Croatia for Austrian developer BOP.


The following information was filed by W. P. Carey Inc. (WPC) on Tuesday, February 28, 2012 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