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23-09-2023, 01:43 PM
\By BILL MCCOLL Published September 21, 2023
The collapse in demand for commercial office space after the pandemic-related rise in "work from home" (WFH) has led W.P. Carey (WPC) to exit that business segment. The real estate investor announced that its board has unanimously agreed to exit the market by spinning off or selling all the office assets in its portfolio.1
W.P. Carey. "W. P. Carey Announces Strategic Plan to Exit Office."
The plan calls for 59 of the properties to be placed into Net Lease Office Properties (NLOP), a separate, publicly-traded real estate investment trust (REIT), with the remaining 87 put up for sale. As of June 30, W.P. Carey had 1,475 net lease properties and 85 self-storage facilities.
https://www.investopedia.com/w-p-carey-t...me-7973014
The collapse in demand for commercial office space after the pandemic-related rise in "work from home" (WFH) has led W.P. Carey (WPC) to exit that business segment. The real estate investor announced that its board has unanimously agreed to exit the market by spinning off or selling all the office assets in its portfolio.1
W.P. Carey. "W. P. Carey Announces Strategic Plan to Exit Office."
The plan calls for 59 of the properties to be placed into Net Lease Office Properties (NLOP), a separate, publicly-traded real estate investment trust (REIT), with the remaining 87 put up for sale. As of June 30, W.P. Carey had 1,475 net lease properties and 85 self-storage facilities.
https://www.investopedia.com/w-p-carey-t...me-7973014
