---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-102948"
form_type: "8-K"
ticker: "WPC"
cik: "0001025378"
company_name: "W. P. Carey Inc."
filed_at: "2023-09-22T23:59:59+00:00"
generated_at: "2026-06-10T09:28:25.681034+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# WPC updates 2023 AFFO guidance to $5.18-$5.26; reaffirms Nov 1 spin-off of office into NLOP

## Summary
- Corrected 2023 AFFO guidance range to $5.18-$5.26 per share for both Total Company and Real Estate AFFO.
- Spin-off of 59 office properties into NLOP expected to close on/about Nov 1, 2023; no shareholder vote required.
- Post-transaction portfolio to consist of industrial/warehouse, essential retail, and self-storage; office exposure to be eliminated.
- Dividend reset targeting pro forma AFFO payout ratio of 70%-75%; ~$350M from NLOP transfer to repay debt.
- Office Sale Program expected to generate ~$800M in proceeds, mostly complete by end of 2023.

## SEC filing metadata
- accession: 0001104659-23-102948
- form_type: 8-K
- ticker: WPC
- cik: 0001025378
- company_name: W. P. Carey Inc.
- filed_at: 2023-09-22T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1025378/000110465923102948/0001104659-23-102948-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1025378/000110465923102948/tm2326719d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-102948
- JSON: https://secwatch.observer/filing/0001104659-23-102948.json
- Plain text: https://secwatch.observer/filing/0001104659-23-102948.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.