Carey Watermark REITs Appoint New CFO
Several publicly registered non-traded REITs sponsored by W.P. Carey (NYSE: WPC), appointed Mallika Sinha to serve as chief financial officer, including Carey Watermark Investors, Carey Watermark Investors 2, Corporate Property Associates 17, and Corporate Property Associates 18.
Sinha succeeds ToniAnn Sanzone, who resigned from the positions but will remain CFO of W. P. Carey. Sanzone briefly served as CFO of the REITs following the resignation of Hisham Kader last September.
Prior to accepting the role of CFO, Sinha served as the executive director – corporate finance of both REITs. She joined W.P. Carey in June 2011 as senior vice president and head of accounting policy.
Sinha started her career in 1999 with PricewaterhouseCoopers and worked in its Mumbai and New York offices until 2011. At PwC, she held a variety of roles, last serving as director – transaction services, where she advised clients on financing transactions, divestitures, and mergers and acquisitions. She is a chartered accountant from India and received her bachelor of commerce degree from the University of Mumbai, India.
The Carey Watermark REITs invest primarily in the lodging and lodging-related sectors. Carey Watermark Investors went effective in September 2009 and closed in December 2014 after raising $1.1 billion in investor equity. The company owns a portfolio of 35 properties with a total investment cost of nearly $2.4 billion, according to Summit Investment Research.
Carey Watermark II went effective in February 2015 and has raised a total of $627.8 million in investor equity since inception. The company owns 10 hotel properties with a total investment cost of $1.1 billion.
CPA 17 and CPA 18 invest in income-producing commercial properties and real estate-related assets. CPA 17 went effective in November 2007 and closed in January 2013 after raising $2.9 billion in investor equity. The company’s portfolio consists of 395 properties with an investment cost of $3.2 billion.
CPA 18 went effective in May 2013 and closed in April 2015 after raising $1.3 billion in investor equity. The company’s portfolio consists of 135 properties with an investment cost of $2.2 billion
