$95m sale-leaseback

Real Estate Weekly, August 4, 2004

W. P. Carey's announced the completion of a $95 million sale-leaseback with TietoEnator Plc, the leading supplier of high-value-added information technology services to Nordic countries, acquiring their chief technology facility and a corporate office located in Espoo, Finland.

This latest acquisition adds to W. P. Carey's growing portfolio of managed properties in the European market, which consists of more than 10M s/f.

Edward V. LaPuma, Chief Investment Officer of W. P. Carey International, said, "As we continue to expand our presence in the European market, we will seek quality investments with companies across the credit spectrum in order to further diversify our investors' investment portfolios while providing our tenant-clients the ability to monetize their real estate assets.

"We anticipate an increase in our investment volume in the months ahead as more European companies realize the benefits of W. P. Carey's customized financing solutions. We are committed to helping companies meet their capital needs and believe we are a good long-term partner who is willing to expand our business with that of our tenant-clients."