secwatch.observer — SEC 8-K summary
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Issuer:     W. P. Carey Inc. (WPC)
CIK:        0001025378
Form:       8-K
Filed at:   2024-10-15T23:59:59+00:00
Accession:  0001104659-24-108259
Event type: other_material
Sentiment:  negative
Materiality: 0.60
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

W. P. Carey tenant True Value files Chapter 11; $18.7M ABR at risk
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- True Value initiated voluntary Chapter 11 proceedings on Oct 14, 2024, and agreed to sell business to Do it Best Corp.
- W. P. Carey net leases nine properties to True Value generating $18.7M annualized base rent (1.4% of total ABR).
- True Value was W. P. Carey's 15th largest tenant; weighted-average lease term is 14.1 years.
- Rent is current through October 2024; properties span six states as distribution warehouses and one manufacturing site.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1025378/000110465924108259/0001104659-24-108259-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1025378/000110465924108259/tm2426172d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-108259

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