(MENAFN-PR Newswire) NLOP’s regular inventory will begin trading “normally” on the New York Stock Exchange on November 2, 2023.
NEW YORK, Nov. 1, 2023 /PRNewswire/ — W. P. Carey Inc. (W. P. Carey, NYSE: WPC) today announced that it has completed the previously announced spin-off of 59 workhouses (the “spin-off”) into Net Lease Office Properties (“NLOP”), a publicly traded, segregated real estate investment accepted as true and indexed on the New York Stock Exchange (“NYSE”) under the symbol “NLOP. “
Under the terms of the spin-off, the shareholders of W. P. Carey earned one percentage of NLOP’s common stock for every 15 percent of W’s common stock. P. Carey maintained as of the registration date of October 19, 2023. W. P. Carey shareholders will receive money. instead of any fraction of porcentaje. de otherwise they would have been entitled to obtain as a component of the distribution.
As of October 27, 2023, NLOP common stock is traded “when issued” on the New York Stock Exchange under the ticker symbol “NLOP WI. “Trading “as an issue” of NLOP’s common stock ended at the close of trading on November 1, 2023. On November 2, 2023, “regular” trading of NLOP common stock will begin on the New York Stock Exchange under the ticker symbol “NLOP. “W. P. Carey’s stock will continue to trade under the ticker symbol “WPC. “
J. P. Morgan acted as exclusive monetary advisor, Latham
W. P. Carey Inc.
Celebrating its 50th anniversary, W. P. Carey is among the largest net lease REITs with a well-diversified portfolio of high-quality, operationally critical advertising real estate, including 1,416 net lease homes covering approximately 171 million square feet and a portfolio of 85 owned homes. form for the spin-off of NLOP, effective June 30, 2023. With offices in New York, London, Amsterdam and Dallas, the company remains focused on making investments primarily in single-tenant, industrial, warehouse and commercial housing. located in the U. S. In the U. S. and Northern and Western Europe, low long-term net rents with built-in rent increases.
Net Lease Office Properties
Net Lease Office Properties (NYSE: NLOP) is a publicly traded real estate investment with a portfolio of 59 high-quality workplace properties, totaling approximately 9. 2 million leasable square feet, primarily leased to corporate tenants in a single-tenant network. on a lease basis. The vast majority of workplace buildings owned through NLOP are located in the United States, and the rest in Europe. The portfolio is comprised of 62 corporate tenants operating in various sectors, generating annualized rents of more than $141 million as of June. December 30, 2023. NLOP’s business plan aims to create price for its shareholders, primarily through strategic asset control and asset disposal. Genuine real estate portfolio over time.
Cautionary Note Regarding Forward-Looking Statements
Certain of the matters discussed in this communication constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include: among other things, statements regarding the intention, confidence or expectations of W. P. Carey and NLOP and may be known by the use of words such as “may”, “will”, “should”, “will” », « “goals”, “believe”, “project”, “expect”, “anticipate”, “intend”, “estimate”, “opportunities”, “possibilities”, “strategy”, “maintain” or the negative edition of those words and other comparable terms. These forward-looking statements include, but are not limited to, statements regarding NLOP’s regular inventory trading on the New York Stock Exchange and NLOP’s business plan. These statements are based on W. P. Carey and NLOP’s existing expectations of control, and it is vital to note that the actual effects of W. P. Carey and NLOP may also differ slightly from those projected in such forward-looking statements. There are a number of threats and uncertainties that could also cause actual effects to differ materially from forward-looking statements. Other unknown or unpredictable threats or insecurities, such as inflation-like threats and emerging interest rates, the effects of pandemics and global outbreaks of communicable diseases (such as the COVID-19 pandemic), and national or geopolitical crises, such as terrorism , the army. clashes. (adding the ongoing clash between Russia and Ukraine and the global reaction thereto), war or the belief that hostilities could possibly be imminent, political instability or civil unrest, or other clashes, as well as other threat points discussed in W. P. Carey and NLOP. reports. have filed with the SEC, may also have an adverse effect on the long-term effects, functionality or achievements of W. P. Carey and NLOP. Discussions of some of those other vital points and assumptions are contained in W. P. Carey and NLOP’s filings with the SEC and are found on the SEC’s online page at Array, adding Part I, Item 1A. Risk Factors in W. P. Carey’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 and the risk factors listed under “Risk Factors” in the NLOP Registration Statement on Form 10 filed with the SEC on October 4, 2023, the latest edition of which was included as Exhibit 99. 1 to the Current NLOP Report on Form 8-K/A filed with the SEC on October 11, 2023. Investors are cautioned Do not place undue reliance on such forward-looking statements, which speak only as of the date of this communication, unless otherwise indicated. Except as required by federal securities laws and SEC regulations and regulations, W. P. Carey and NLOP undertake no legal responsibility to publicly release any revisions to any forward-looking statements to reflect occasions or events after the date of this communication or to reflect the appearance of unforeseen events.
Institutional investors: Peter Sands1 (212) 492-1110[email protected]
Individual Investors: W. P. Carey Inc. 1 (212) 492-8920[email protected]
Media Contact: Anna McGrath1 (212) 492-1166 [email protected]
SOURCE W. P. Carey Inc.
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