W. P. Carey Inc. (NYSE: WPC) released a business update on September 10, 2026, detailing its investment activity for the year and providing an outlook regarding tenant credit-related rent losses. The company reported that it currently has visibility into investment volume totaling more than $1.9 billion for full-year 2026. This total includes approximately $1.4 billion of investment volume completed year-to-date, as well as transactions in its pipeline expected to close in 2026 and capital projects scheduled to deliver during the same period.
The update also addressed the status of Hellweg, a tenant credit issue. W. P. Carey has improved its 2026 outlook for estimated rent loss from tenant credit events. This improvement is attributed primarily to the receipt of August rent from Hellweg and the expectation that the company will collect additional rent from Hellweg during the second half of 2026. The company also stated it expects to recognize the benefit of bank guarantees covering up to three months of lease-related damages associated with Hellweg.
Regarding the re-tenancy of Hellweg stores, the company has executed binding lease agreements for nine stores, representing approximately $9.8 million, or 64%, of current Hellweg annual base rent (ABR). New rent for these stores is expected to commence between late 2026 and mid-2027. Of the remaining seven stores, two are in final stages of lease negotiations with leases expected to be signed by the end of September, and five are expected to be sold by the end of 2026. Overall rent recapture for the 11 stores being re-tenanted is expected to be close to 100% of current Hellweg rent.
W. P. Carey ranks among the largest net lease REITs, with a portfolio of 1,748 net lease properties covering approximately 188 million square feet as of June 30, 2026. The company focuses on investing in single-tenant industrial, warehouse, and retail properties located in the U.S. and Europe under long-term net leases with built-in rent escalations.
