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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported): March 20, 2006
W. P. Carey & Co. LLC
(Exact name of registrant as specified in its charter)
Delaware 001-13779 13-3912578
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification Number)
50 Rockefeller Plaza
New York, NY 10020
(Address of principal executive offices) (Zip Code)
(212) 492-1100
(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4 (c) under the
Exchange Act (17 CFR 240.13e-4(c))
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ITEM 2.06 Material Impairments.
On March 20, 2006, the registrant's operating committee approved the sale of a
property in Amberly Village, Ohio. The registrant entered into a contract
with a third party on March 21, 2006 to sell this property for $6,250,000. The
contract provides for a due diligence period for the buyer and as such, there
is no assurance that the proposed sale will be completed.
The property has a carrying value of approximately $9,390,000. The net proceeds
from the sale after expected closing costs are expected to be approximately
$6,190,000. Because the sale proceeds net of the expected closing costs are
below the property's carrying value, the property has been deemed impaired. The
registrant expects to record an impairment charge of approximately $3,200,000
for the quarter ending March 31, 2006 in connection with the reclassification of
this property to held for sale.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this Report to be signed on its behalf by the
undersigned, thereunto duly authorized.
W. P. Carey & Co. LLC
Date: March 22, 2006 By: /s/ Mark J. DeCesaris
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Mark J. DeCesaris
Managing Director and acting Chief
Financial Officer