DLA Piper represented W.P. Carey Inc. (NYSE: WPC), a publicly-traded, net lease REIT, in connection with its entry into a merger agreement with Corporate Property Associates 17 — Global Incorporated, a publicly-held, non-traded REIT. The stock-for-stock transaction is valued at approximately $6 billion.
Following the merger, W.P. Carey is expected to have a pro forma equity market capitalization of approximately $11 billion and an enterprise value of approximately $17 billion, making it the 21st largest REIT in the MSCI US REIT Index by equity market capitalization, based upon W.P. Carey’s closing share price on June 15, 2018.
The DLA Piper team was led by partner Chris Giordano and associate Jon Venick (both of New York), and included partners Robert LeDuc(Minneapolis) and Penny Minna (Baltimore); of counsel Sanjay Shirodkar (Washington, DC); and associates Janessa Griffin (Chicago), Sarah Ritter(Baltimore) and Eric Rubin (New York).
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