Corporate Property Associates 12 Increases Quarterly Dividend
NEW YORK, NY – December 21, 2000 – Corporate Property Associates 12 (CPA®:12), an affiliate of W. P. Carey & Co. LLC, announced that its Board of Directors has approved the fourth quarter dividend for this public REIT. The dividend, payable January 15, 2001 to shareholders of record as of December 29, rose to $20.47 per 100 shares. This is the Company's 27th consecutive quarterly dividend increase.
Chairman Wm. Polk Carey commented, "Our ability to provide consistent and growing dividends to our investors amid current market volatility continues to validate our core strategy of acquiring single-tenant, industrial, retail and office facilities, leased to growing dynamic companies under long term, triple-net leases. CPA®:12 not only looks to provide an asset allocation vehicle that addresses investors' need for stability in increasingly volatile markets, but it also seeks and structures investments that may provide for capital appreciation over the long term."
Founded in 1973, W. P. Carey & Co. LLC, a leader in the ownership and net leasing of corporate properties, specializes in corporate real estate financing using the corporate net lease, or sale-leaseback structure. The $2.5 billion W. P. Carey Group, which includes the firm and its affiliates, is one of the largest lessors of net leased corporate real estate in the nation. The W. P. Carey Group includes the largest publicly traded Limited Liability Company in the world and the four real estate investment trusts (REITs) it manages. Collectively, Carey owns or manages over 42 million square feet of property located in the United States and Europe leased to a diverse group of corporate tenants across the credit spectrum. CPA®:12 was created in 1994. More information on CPA®:12 can be found on the company's website at www.cpa12.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.
