|Our sincere condolences to the friends, family, and colleagues of |
W. P. Carey & Co founder Bill Carey, 81, who died yesterday of natural causes in West Palm Beach, Fla.
|Bill started the company in 1973, primarily to structure single-asset private investments. It now owns 1,000 commercial and industrial properties totaling 120M SF in North America, Europe, and Asia and manages $12B in assets. Bill also founded the W. P. Carey Foundation in 1988. Its most recent gift was $30M to Baltimore's University of Maryland Francis King Carey School of Law (named for his grandfather, an 1880 graduate and a founder of a predecessor firm to DLA Piper). The foundation has also given $50M to JHU for the Carey Business School and will receive most of Bill's company shares. A public memorial service is being planned in NYC. In lieu of flowers, donations can be made to the W. P. Carey Foundation, Attn: Juliana Harris, 50 Rockefeller Plaza, New York, NY 10020.|
|Here's Bill with Francis King Carey School of Law dean Phoebe Haddon and W. P. Carey Foundation president Francis Carey in September at the school's name dedication, and there's more Baltimore in Bill's background. His interest in business emerged when he sold ink he made in the basement of his family?s Baltimore home. He also attended Princeton and the Wharton School and served in the Air Force for two years. He learned about lease financing in his stepfather?s New Jersey car dealership and at 28 became owner of International Leasing Corp, which merged into Hubbard, Westerfelt & Mottelay. He then held positions at Loeb, Rhodes & Co and DuPont Glore Forgan before launching his firm.|