NEW
YORK, July 10, 2024 /PRNewswire/ -- W. P.
Carey Inc. (NYSE: WPC), a leading net lease REIT, today
announced that John Park will step
down as President of the company effective September 30, 2024. Mr. Park will serve as Senior
Advisor to the company through February
2025 and will continue to serve as a Trustee of Net Lease
Office Properties (NYSE: NLOP) and the W. P. Carey Foundation. The
separate role of President will be eliminated, and the title will
be assumed by Jason Fox, the
company's Chief Executive Officer.
Mr. Park joined W. P. Carey in 1987, working alongside Founder
Wm. Polk Carey in various roles of increasing responsibility. He
led many of W. P. Carey's transformative transactions, including
the consolidation and NYSE listing of CPA:1–9 as Carey Diversified
LLC in 1998, its merger with W. P. Carey & Co. Inc. in 2000, W.
P. Carey's merger with CPA:15 and REIT conversion in 2012, and the
company's subsequent mergers with CPA:16, CPA:17 – Global and
CPA:18 – Global.
Mr. Fox said, "John has been an integral member of the W. P.
Carey team for nearly 37 years. His contributions to our
success have been numerous and I have personally valued his
insights, creativity, and importantly, his friendship over the
years. On behalf of the entire company, I want to thank John for
the critical role he played in shaping W. P. Carey."
"Having spent my entire career at W. P. Carey, I am proud
to have helped steer its growth and evolution from a private asset
manager to the leading publicly traded net lease REIT it is today,"
Mr. Park said. "It's been a privilege to work with such a talented
and passionate team, and I know that I will be leaving W. P. Carey
in a strong position with a bright future."
W. P. Carey Inc.
W. P. Carey ranks among the largest net lease REITs with a
well-diversified portfolio of high-quality, operationally critical
commercial real estate, which includes 1,282 net lease properties
covering approximately 168 million square feet and a portfolio of
89 self-storage operating properties as of March 31, 2024. With offices in New York, London, Amsterdam and Dallas, the company remains focused on
investing primarily in single-tenant, industrial, warehouse and
retail properties located in the U.S. and Northern and Western Europe, under long-term net leases
with built-in rent escalations.
www.wpcarey.com
Institutional Investors:
Peter
Sands
1 (212) 492-1110
institutionalir@wpcarey.com
Individual Investors:
W. P. Carey Inc.
1 (212) 492-8920
ir@wpcarey.com
Press Contact:
Anna
McGrath
1 (212) 492-1166
amcgrath@wpcarey.com
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SOURCE W. P. Carey Inc.
