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2 W. P. Carey-managed nontraded lodging REITs set date for merger vote

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2 W. P. Carey-managed nontraded lodging REITs set date for merger vote

Carey Watermark Investors Inc. and Carey Watermark Investors 2 Inc. will hold separate special shareholder meetings March 26 to vote on the companies' pending merger.

The two companies, which are managed by W. P. Carey Inc. unit Carey Lodging Advisors LLC, are combining in an all-stock deal to form an internally managed nontraded lodging real estate investment trust with a valuation of $4.6 billion.