Net Lease REIT W.P. Carey Sets Out Six-Point Business Plan

Mark DeCesaris, CEO of W.P. Carey Inc. (NYSE: WPC), joined REIT.com for a CEO Spotlight video interview at REITWeek 2016: NAREIT’s Investor Forum at the Waldorf Astoria New York.

W.P. Carey is a global net-lease REIT that provides long-term sale-leaseback and build-to-suit financing solutions for companies worldwide.

DeCesaris was appointed CEO in February. Since then, the company has completed a strategic review and reaffirmed the value of the current business model, he noted.  In addition, W. P. Carey has developed a business plan that focuses on growth, diversification, balance sheet strength and flexibility, operational efficiency, proactive asset management, and transparency.

Earlier this year, W.P. Carey acquired a private preparatory school campus in Florida from Nord Anglia Education Inc., a private education provider, and also entered into agreements for the acquisition of two additional school campuses in Florida and Texas. The properties will be leased to affiliates of Nord Anglia for a period of 25 years. 

DeCesaris said the lease will provide “significant return to our investors.”

Meanwhile, execution of strategy will be the biggest story for W.P. Carey in the second half of 2016, according to DeCesaris.

He noted that he company will focus on:

  • Acquisitions;
  • Product diversity and growth in the investment management arm;
  • Continued diversification in the net lease portfolio;
  • Diversity of capital sources;
  • Operational efficiency;
  • Reducing the cost structure;
  • Maintaining an investment grade balance sheet; and
  • Significant investor outreach.