DLA Piper advises W. P. Carey in US$1 billion equity sales agreement

DLA Piper advised W. P. Carey Inc. (NYSE: WPC) in its entrance into an equity sales agreement pursuant to which shares of W. P. Carey’s common stock having an aggregate offering price of up to US$1 billion may be offered and sold.

W. P. Carey entered into the agreement with BofA Securities, Inc., Capital One Securities, Inc., J.P. Morgan Securities LLC, Wells Fargo Securities, LLC, and several other purchasers thereunder. W. P. Carey intends to use any net proceeds from the sale of shares, including upon settlement of any forward sale agreement thereunder, to reduce outstanding debt, to find potential future acquisitions and for general and corporate purposes.

“It has been an absolute pleasure working with W. P. Carey over the years and we were happy to have the opportunity to assist them on such an exciting transaction,” said Chris Giordano, chair of DLA Piper’s New York Corporate Group, who led the firm’s deal team. “As the REIT landscape continues to shift, this transaction complements W. P. Carey’s continued growth strategy, and we look forward to supporting their efforts in the future.”

In addition to Giordano (New York), the deal team included partners Jon Venick (New York), Anna Spence (Raleigh), Jesse Criz (Chicago), and Penny Minna (Baltimore); of counsels Janessa Griffin and Katie LaKoma(both of Chicago); and associates Kim McKenzie (Raleigh) and Michael Slovak (Miami).

With more than 1,000 corporate lawyers globally, DLA Piper helps clients execute complex transactions seamlessly while supporting clients across all stages of development. The firm has been rated number one in global M&A volume for 12 consecutive years, according to Mergermarket.