W.P. Carey Founder and Chairman Dies
Under William Polk Carey's leadership, the New York-based firm became a leader in sale-leaseback investments for commercial real estate
January 2, 2012
Investment management company W. P. Carey & Co. LLC has announced that its founder and chairman William Polk Carey died of natural causes at Good Samaritan Medical Center in West Palm Beach, Fla. He was 81 years old.
In a prepared statement, chief executive Trevor Bond stated said, "the best way for us to honor Bill is to continue to deliver outstanding results to our investors."
Under Carey's leadership, the New York-based firm provided companies with capital to finance deals and developed a sale-leaseback investment strategy for commercial real estate.
In 1988, he established the W. P. Carey Foundation, which provides endowments to students at Arizona State University, Johns Hopkins University and the University of Maryland.
At the time of his death, the firm managed a global investment portfolio totaling about $11.8 billion, according to the company statement.
Carey is survived by his brother Francis J. Carey and nieces and nephews.
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