Corporate Property Associates 12 Increases Quarterly Dividend
NEW YORK, NY – March 28, 2000 – Corporate Property Associates 12 (CPA®:12), an affiliate of W. P. Carey & Co. LLC, announced that its Board of Directors has approved the first quarter dividend for this public REIT.
The dividend for the quarter ended March 31, 2000 to shareholders of record on March 31, payable April 15, 2000, rose to $20.41 per 100 shares. This is the Company’s 24th consecutive quarterly dividend increase.
Chairman Wm. Polk Carey commented, "The current volatility in technology and large cap equities has caused investors to become increasingly aware of the need to balance their portfolios through investments in other asset classes. As a stable and strategic alternative investment, single tenant, industrial, retail and office facilities, leased to growing dynamic companies under long term, triple-net leases can provide consistent and growing dividends to investors. By strictly adhering to our core competencies in the areas of sophisticated deal structuring, rigorous credit analysis and evaluation of real estate markets, we have assembled a portfolio for CPA®:12 that has, to date, performed in-line with management expectations."
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 manages the largest publicly traded limited liability company listed on the New York Stock Exchange and four real estate investment trusts (REITs). Collectively, Carey manages over 37 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, an affiliate of W. P. Carey & Co. LLC, was created in 1994. More information on CPA®:12 can be found on 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.
