W. P. Carey Announces Strategic Plan To Exit Office
Portfolio Pulse from Benzinga Newsdesk
W. P. Carey (WPC) has announced a strategic plan to exit its office portfolio. The majority of the office portfolio will be spun-off into a separate publicly-traded REIT. The company has also implemented an on-balance sheet office sale program to exit remaining office assets by January 2024. Assets representing over half of the office sale program ABR are in the advanced stages of a sale or have been sold.
September 21, 2023 | 11:31 am
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NEUTRAL IMPACT
W. P. Carey's strategic plan to exit its office portfolio could potentially impact its stock price. The spin-off into a separate REIT and the sale of remaining assets could lead to changes in the company's asset base and revenue streams.
The strategic plan announced by W. P. Carey to exit its office portfolio and spin-off most of these assets into a separate REIT could potentially impact the company's stock price. The sale of remaining assets by January 2024 could lead to changes in the company's asset base and revenue streams, which could in turn affect its financial performance and stock price. However, the exact impact will depend on various factors, including the terms of the spin-off and sale, market conditions, and investor reactions.
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