W.P. Carey subsidiaries enter advisory agreements with NLOP; $625K monthly fee, $7.5M annual cap

W. P. Carey Inc.

Management fee of $625,000 per month, reduced proportionally after property sales, capped at $7.5M per fiscal year.
Administrative reimbursement of $333,333 per month plus out-of-pocket expenses for services to NLOP.
3-year initial term, auto-renewing annually; termination fee equals 0.5x trailing 12-month fees for convenience/good reason.
Agreements cover strategic management, asset management, and property disposition support for NLOP's office properties.

item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

W. P. Carey Inc. entered into U.S. Advisory Agreement with NLOP and the U.S. Advisor (effective 2023-11-01).

Action: entry
Counterparty: NLOP and the U.S. Advisor
Effective: 2023-11-01

Exact text from the filing

Advisory Agreements On November 1, 2023, (i) NLOP and the U.S. Advisor entered into the U.S. Advisory Agreement; and (ii) NLOP and W.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

W. P. Carey Inc. entered into European Advisory Agreement with NLOP and W. P. Carey & Co. B.V. (effective 2023-11-01).

Action: entry
Counterparty: NLOP and W. P. Carey & Co. B.V.
Effective: 2023-11-01

Exact text from the filing

(ii) NLOP and W. P. Carey & Co. B.V., a wholly-owned subsidiary of the Company (the “European Advisor” and, together with the U.S. Advisor, the “Advisors”), entered into an advisory agreement (the “European Advisory Agreement”

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119 material agreements filed in the last 30 days. Browse all material agreements →

W. P. Carey Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-037435

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