New York City-based W.P. Carey Inc., a global net lease real estate investment trust, recently revealed some new senior management responsibilities. Jason Fox, for one, has been named president of the REIT in addition to his current role as Global Head of Investments.
In his new role, he will oversee the sourcing, negotiating and structuring of acquisitions on behalf of both W. P. Carey and its CPA series of non-traded REITs. Asset acquisitions include sale-leaseback, build-to-suit, net lease and related asset-backed structures.
Since joining W. P. Carey, he has closed $2.2 billion in deals, including the $225 million acquisition of the New York Times headquarters in Manhattan and the $312 million acquisition of 78 retail self-storage and truck rental facilities operated under the U-Haul brand name. Fox was appointed Global Head of Investments in 2015, having served as Global Co-Head of Investments since 2011. He joined W. P. Carey in 2002.
Prior to joining W. P. Carey, Mr. Fox worked at the Spectrem Group, a consulting and merger and acquisition advisory firm in San Francisco. Prior to that, he spent two years teaching mathematics and physics at The Hotchkiss School in Connecticut.
Other management changes at the REIT include the following:
Hisham Kader was appointed chief financial officer and managing director of W. P. Carey Inc. having served as its chief accounting officer since 2012, in addition to serving as chief financial officer and/or chief accounting officer for certain of its non-traded REITs over that time. He joined W. P. Carey in 2011 as global corporate controller;
And lastly, Katy Rice, who served as chief financial officer of W. P. Carey Inc. since 2013, has been promoted to senior managing director in a newly created internal advisory role focused on examining the company’s core businesses.
“In recognition of their depth of experience and individual contributions to the firm over several years, I am pleased to announce these promotions and congratulate each of them on their new roles,” said Trevor Bond, chief executive officer. “The deep expertise of this talented group of professionals will not only ensure a smooth transition, but will allow Katy Rice to focus on an important new initiative with the objective of unlocking value for our stockholders.”