W.P. Carey founder dies at age 81

New York /
Jan.January 03, 2012 12:30 PM

William Polk Carey, an entrepreneur who founded New York-based investment management firm W.P. Carey & Co., died yesterday at the Good Samaritan Medical Center in West Palm Beach, Fla. of natural causes, aged 81, the New York Observer reported.

Carey, whose company paid $225 million for 21 floors at the New York Times Building at 620 Eighth Avenue under a sale-leaseback arrangement in 2009, agreed to lease the space to the newspaper for up to 15 years, the Observer said. The company he leaves behind has 1,000 commercial and industrial properties under management — totaling 120 million square feet — in North America, Europe and Asia — and currently has $12 billion in assets.

“Bill was unwavering in his devotion to our shareholders, and he was especially proud that we have been able to provide increasing income to them, while providing our tenant companies with the capital that allowed them to grow their business and prosper,” said Trevor Bond, CEO of W.P. Carey & Co., in a statement to the Observer. [NYO]


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)
Hudson Yards megadevelopment inspires a new line of sex toys
Hudson Yards megadevelopment inspires a new line of sex toys
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)
Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Wendy Silverstein (Credit: Getty Images)
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
From left: RGB chair David Reiss, tenant board member Leah Goodridge and RSA's Joe Strasburg
Rent board grants six-month rent freeze, then 1.5% hike
Rent board grants six-month rent freeze, then 1.5% hike
What’s next for the East End’s community preservation fund?
What’s next for the East End’s community preservation fund?
What’s next for the East End’s community preservation fund?
Port Authority Inks Deal to Bring $145M Cargo Hub to JFK (iStock)
Port Authority inks deal to bring $145M cargo hub to JFK
Port Authority inks deal to bring $145M cargo hub to JFK
Alex Rodriguez and the Bridgehampton house (Corcoran, Getty)
A-Rod rents Bridgehampton home, stone’s throw from J-Lo’s
A-Rod rents Bridgehampton home, stone’s throw from J-Lo’s
Harbor Group’s Jordan Slone (right) and Cammeby's International founder Rubin Schron (iStock)
Harbor Group, Cammeby’s team up on $1B NJ apartment buy
Harbor Group, Cammeby’s team up on $1B NJ apartment buy
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...