Capital Investment Case Studies

Proactive Asset Management W. P. CAREY Domestic and international asset management capabilities to address lease expirations, changing tenant credit profiles and asset repositioning or dispositions Asset management offices in New York and Amsterdam • W. P. Carey has proven experience repositioning assets through re-leasing, restructuring and strategic disposition • Generates value creation opportunities within our existing portfolio • Five-point internal rating scale used to assess and monitor tenant credit and the quality, location and criticality of each asset Asset Management Expertise Transaction Asset Management Risk Analysis Operational Risk Management Scale • Leasing Dispositions Lease modifications • Lease compliance Tenant Credit Bankruptcy Watch List Stable Implied IG Investment Grade Insurance • Property inspections • Credit and real estate risk analysis • Non-triple net lease Asset Quality Obsolete Residual Risk Stable Class B Class A administration • Building expansions and • Real estate tax Limited Tenant redevelopment Tenant distress and Asset Location • Projections and portfolio No Tenant Demand Demand/ Challenging Alternative Tenant Demand valuation Location Good Location / Active Market Prime Location / High Tenant Demand restructuring Asset Criticality Not Critical Non- Renewal Possible Renewal Critical- Renewal Likely Highly Critical 6

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