W. P. Carey completed the spin-off of a 59 office properties portfolio.

W. P. Carey, a real estate investment trust, completed the spin-off of a 59 office properties portfolio into an independent and publicly-traded company. As a separate company, NLOP will pursue a business plan focused on realizing value for its shareholders primarily through the strategic asset management and disposition of its property portfolio over time. It is anticipated that NLOP will pay distributions to its shareholders from its operating cash flows and disposition proceeds, after first repaying its obligations under the new debt facility.