Corporate Property Associates 18 – Global Inc., a publicly registered non-traded real estate investment trust managed by W.P. Carey Inc. (NYSE: WPC), has reported that its independent directors intend to begin the process of evaluating possible liquidity alternatives for the company’s shareholders, according to a filing with the Securities and Exchange Commission.
Liquidity alternatives typically include the sale of the company’s assets, a listing of its shares on a national securities exchange, or a merger with another entity.
Although no specifics were provided, the directors will evaluate “an unsolicited preliminary proposal for a potential business combination transaction received from affiliates of the company’s external advisor.”
The company does not intend to discuss the evaluation process unless and until a particular alternative is selected.
CPA:18 – Global’s offering was declared effective in May 2013 and closed in April 2015 after raising $1.2 billion in investor equity. As of the second quarter of 2021, the value of the REIT’s real estate portfolio was nearly $2.57 billion.