W. P. Carey Inc. ((W. P. Carey, NYSE:WPC), a leading net lease REIT specializing in corporate sale-leasebacks, build-to-suits and the acquisition of single-tenant net lease properties, today provided a business update regarding investment activity and its outlook for tenant credit-related rent loss.

Investment Activity

W. P. Carey currently has visibility into investment volume totaling more than $1.9 billion for full-year 2026, including approximately $1.4 billion of investment volume completed year to date, transactions in its pipeline that are expected to close in 2026, and capital projects scheduled to deliver in 2026.

Tenant Credit

W. P. Carey has improved its 2026 outlook for estimated rent loss from tenant credit events, due primarily to the receipt of August rent from Hellweg and the expectation that it will collect additional rent from Hellweg during the second half of 2026. The Company also continues to expect to recognize the benefit of bank guarantees to cover up to three months of lease-related damages associated with Hellweg.

The Company has executed binding lease agreements for nine Hellweg stores, representing approximately $9.8 million, or 64%, of current Hellweg ABR1, with new rent expected to commence between late 2026 and mid-2027.

Of the remaining seven stores:

Two stores, representing approximately $1.2 million, or 8% of Hellweg ABR, are currently in the final stages of lease negotiations, with leases expected to be signed by the end of September; and
Five stores, representing approximately $4.3 million, or 28% of Hellweg ABR, are expected to be sold by the end of 2026.
Overall rent recapture for the 11 stores being re-tenanted is expected to be close to 100% of current Hellweg rent.