SOURCE: W. P. Carey & Co. LLC

W. P. Carey & Co. LLC

December 11, 2009 10:02 ET

W. P. Carey Group Closes $45 Million Acquisition of US Oncology Corporate Headquarters

NEW YORK, NY--(Marketwire - December 11, 2009) - Investment firm W. P. Carey & Co. LLC (NYSE: WPC) announced today that CPA®:17 - Global, one of its publicly held non-traded REIT affiliates, has purchased the corporate headquarters of US Oncology, Inc. in Woodlands, Texas, 30 miles north of Houston. CPA®:17 - Global purchased the 204,000 square foot facility, which is leased to US Oncology on a long-term basis, for a total of approximately $45 million.

US Oncology, majority-owned by private equity firm Welsh, Carson, Anderson & Stowe, is a premier oncology services company and works closely with physicians, payers, biotechnology, pharmaceutical and medical equipment manufacturers to support every aspect of the cancer care delivery system, from drug development to distribution and outcomes measurement. According to its third quarter 2009 earnings report, US Oncology is affiliated with 1,310 physicians operating in 493 locations in 39 states.

Commenting on the acquisition, W. P. Carey Executive Director Jason Fox noted, "Acquiring US Oncology's Class A headquarters is consistent with our investment strategy of purchasing assets that are critical to the long-term business objectives of our tenants. In addition, we view the location and quality of the real estate as significant added value for the transaction and believe it is a solid opportunity for CPA®:17 - Global and its investors."

W. P. Carey & Co. LLC

W. P. Carey & Co. LLC (NYSE: WPC) is an investment management company that provides long-term sale-leaseback and build-to-suit financing for companies worldwide and manages a global investment portfolio approaching $10 billion. Publicly traded on the New York Stock Exchange (WPC), W. P. Carey and its CPA® series of income-generating, non-traded REITs help companies and private equity firms unlock capital tied up in real estate assets. The W. P. Carey Group's investments are highly diversified, comprising contractual agreements with approximately 300 long-term corporate obligors spanning 28 industries and 15 countries.

http://www.wpcarey.com

This press release contains forward-looking statements within the meaning of the Federal securities laws. A number of factors could cause the Company's actual results, performance or achievement to differ materially from those anticipated. Among those risks, trends and uncertainties are the general economic climate; the supply of and demand for office and industrial properties; interest rate levels; the availability of financing; and other risks associated with the acquisition and ownership of properties, including risks that the tenants will not pay rent, or that costs may be greater than anticipated. For further information on factors that could impact the Company, reference is made to the Company's filings with the Securities and Exchange Commission.

Contact Information

  • COMPANY CONTACT:
    Kristina McMenamin
    W. P. Carey & Co.
    212-492-8995
    Email Contact

    PRESS CONTACT:
    Guy Lawrence
    Ross & Lawrence
    212-308-3333
    Email Contact