Earlier this week, I wrote an article on Gramercy Property Trust (GPT), a small-cap Triple Net REIT with an ambitious plan to become the next W.P. Carey (WPC). It's no surprise, however, that Gordon DuGan, CEO of Gramercy, was once the CEO of W.P. Carey and he appears to be following the basic core business model that was set into some 40 years ago by the legendary Bill Carey.
As an early pioneer in the Sale/Leaseback arena, W.P. Carey (and its founder Bill Carey) was instrumental in creating a sustainable platform to unlock value in real estate by investing in companies that own properties leased to corporate occupiers. As I explained in a previous ...
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