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Carey Watermark Investors 2 Increases Net Asset Value

Carey Watermark Investors 2, a publicly registered non-traded real estate investment trust sponsored by W.P. Carey (NYSE: WPC), revised its net asset value to $10.74 per Class A and Class T shares, as of December 31, 2016. The company previously approved a NAV of $10.53 per share for the two share classes.

The NAV was calculated by the REIT’s advisor, Carey Lodging Advisors, based on appraisals of its real estate portfolio provided by CBRE Hotels and estimates of its mortgage debt provided by Robert A. Stanger & Co.

The per share NAV was based on the estimated market value of the company’s assets, less the estimated market value of its liabilities, divided by the total shares outstanding, and was performed in accordance with the IPA valuation guidelines.

Starting this month, the $10.74 NAV will be used for issuing shares under the company’s distribution reinvestment plan and for share redemptions.

Carey Watermark Investors 2 went effective in February 2015 and is expected to close at the end of 2017. As of the fourth quarter of 2016, the company has raised $624 million in investor equity, according to Summit Investment Research, and owns a portfolio of 10 properties with a total investment cost of nearly $1.3 billion.

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