The Board of W. P. Carey Inc. (NYSE:WPC) announced the spin-off of 59 office properties on September 21, 2023. Holders of shares of WPC common stock as of the record date will be entitled to receive one common share of the Company for every 15 shares of WPC common stock held by such stockholder. October 19, 2023, the record date for the Distribution. The transaction is unanimously approved by board of directors of W. P. Carey Inc. The transaction is expected to close on November 1, 2023. As of October 6, 2023, registration statement has declared effective. JPMorgan Chase & Co. acted as financial advisor and Latham & Watkins LLP acted as legal advisor to W. P. Carey Inc. Computershare acted as a transfer agent.

W. P. Carey Inc. completed the Spin-Off of Net Lease Office Properties (NYSE:NLOP) on November 1, 2023.