LaPuma Departs WP Carey

Reuters - January 15, 2010

A spokesman for the company, which is preparing to invest a recently-raised $788 million in commercial property, said LaPuma left in late December by "mutual agreement."

LaPuma was not available for comment.

The spokesman said the international unit includes a 15-strong team, which the company was looking to beef up with real estate managers with international acquisition experience.

LaPuma told Reuters in June that W.P. Carey was looking to raise $1 billion to exploit market opportunities globally. He also said the firm was mulling an Islamic fund [ID:nLN065904], but the plan has now been shelved, the spokesman said.

The spokesman said W. P. Carey was looking at options for LaPuma's successor, but the company had not set a deadline for the appointment.

Last month the company completed its first Spanish sale-and-leaseback transaction, buying 13 retail facilities from Spanish supermarket operator Eroski Sociedad Cooperativa [EROSK.UL]." Sphere: Related Content