W.P. Carey REIT to Extend Offering
Carey Watermark Investors 2 Inc., a publicly registered non-traded real estate investment trust sponsored by W.P. Carey (NYSE: WPC), is extending its offering until December 31st, according to a filing with the Securities and Exchange Commission.
The company previously anticipated closing the offering on March 31st, but cited “recent changes in the business outlook and regulatory actions” as the reason for the extension.
Carey Watermark 2 also plans to suspend its offering on March 31, 2017 to complete its annual estimated net asset valuation, and subsequently update its offering documents to reflect the NAV and any related changes to the offering prices of its shares. The company said that it intends to resume the current offering as soon as practicable.
Carey Watermark Investors 2, which invests primarily in the lodging and lodging-related sectors, went effective in February 2015 and has raised a total of $627.8 million in investor equity since inception. The company owns nine hotel properties with a total investment cost of approximately $1 billion.
