NEW YORK, NY – W.P. Carey Inc. completed record investment volume for 2021, totaling $1.73 billion. The volume includes $530 million in investments completed during Q4 2021.
During 2021, W. P. Carey continued to seek opportunities in warehouse and industrial assets, which comprised 70% of its full year investment volume.
The company's diversified approach addresses markets across two continents. Approximately 60% of the firm’s 2021 investments were in the U.S. and 40% were in Europe.
The company’s 2021 investments additionally supported internally-driven growth. All completed leases provided either an average of 2.3% fixed rent escalations or rent increases tied to inflation, as well as enhanced portfolio quality, with a weighted-average lease term of 20 years.
"In line with our expectations and supported by our access to well-priced capital, we maintained an accelerated pace of deal closings during the fourth quarter, completing a record year for investment volume and establishing a new chapter of externally-driven growth for W. P. Carey," states Jason Fox, CEO of W. P. Carey. "I'm also pleased to confirm that the strong deal momentum that characterized 2021 is being sustained in the new year, with a growing number of deal closings scheduled for the first quarter and an actively building pipeline of new opportunities."
"Corporate leaders are increasingly recognizing the benefits of sale-leasebacks as a means of unlocking the value of their critical operating real estate,” says Gino Sabatini, W. P. Carey’s head of investments. “This, coupled with W. P. Carey's long track record of timely execution and our ability to provide certainty of close, enabled us to work with new and existing tenants to close a record volume of transactions in 2021."