immediately following the closing of the cwi 1 and cwi 2 proposed merger : ( i ) the advisory agreements with each of cwi 1 and cwi 2 will terminate ; ( ii ) the operating partnerships of each of cwi 1 and cwi 2 will redeem the special general partnership interests that we currently hold , for which we will receive approximately $ 97 million in consideration , comprised of $ 65 million in shares of cwi 2 preferred stock and 2,840,549 shares in cwi 2 common stock valued at approximately $ 32 million ; ( iii ) cwi 2 will internalize the management services currently provided by us ; and ( iv ) we will provide certain transition services at cost to cwi 2 for periods generally up to 12 months from closing of the proposed merger . please see our current report on form 8-k dated october 22 , 2019 for additional information . amended credit facility on february 20 , 2020 , we amended and restated our senior unsecured credit facility . we increased the capacity of our unsecured line of credit under our amended credit facility to $ 2.1 billion , which is comprised of a $ 1.8 billion revolving line of credit , a £150.0 million term loan , and a $ 105.0 million delayed draw term loan , all maturing in five years . the delayed draw term loan may be drawn within one year and allows for borrowings in u.s. dollars , euros , or british pounds sterling . the aggregate principal amount ( of revolving and term loans ) available under the amended credit facility may be increased up to an amount not to exceed the u.s. dollar equivalent of $ 2.75 billion , subject to the conditions to increase provided in the related credit agreement . we will incur interest at libor , or a libor equivalent , plus 0.85 % on the revolving line of credit , and libor , or a libor equivalent , plus 0.95 % on the term loan and delayed draw term loan ( note 20 ) . w. p. carey 2019 10-k – 26 financial highlights during the year ended december 31 , 2019 , we completed the following ( as further described in the consolidated financial statements ) : real estate investments we acquired 23 investments totaling $ 737.5 million ( note 5 ) we completed seven construction projects at a cost totaling $ 122.5 million . construction projects include build-to-suit and expansion projects ( note 5 ) . we committed to purchase a warehouse and distribution facility in knoxville , tennessee , for approximately $ 68.0 million upon completion of construction of the property , which is expected to take place during the second quarter of 2020 ( note 5 ) . we committed to purchase two warehouse facilities in hillerød and hammelev , denmark , for approximately $ 19.9 million ( based on the exchange rate of the danish krone at december 31 , 2019 ) upon completion of construction of the properties . one property was completed in january 2020 ( note 20 ) and the second property is expected to be completed during the first quarter of 2020 ( note 5 ) . we committed to fund an aggregate of $ 8.3 million ( based on the exchange rate of the euro at december 31 , 2019 ) for a warehouse expansion project for an existing tenant at an industrial and office facility in marktheidenfeld , germany . we currently expect to complete the project in the second quarter of 2020 ( note 5 ) . we committed to fund an aggregate of $ 3.0 million for an expansion project for an existing tenant at a warehouse facility in wichita , kansas . we currently expect to complete in the third quarter of 2020 ( note 5 ) . we committed to fund an aggregate of $ 56.2 million ( based on the exchange rate of the euro at december 31 , 2019 ) for a build-to-suit project for a headquarters and industrial facility in langen , germany , which we currently expect to be completed in the first quarter of 2021 ( note 5 ) . we committed to fund an aggregate of $ 70.0 million for a renovation project at a warehouse facility in bowling green , kentucky , which we currently expect to be completed in the fourth quarter of 2021 ( note 5 ) . dispositions as part of our active capital recycling program , we disposed of 22 properties for total proceeds of $ 382.4 million , net of selling costs ( note 17 ) . in january 2020 , we sold one of our two hotel operating properties for gross proceeds of $ 120.0 million ( inclusive of $ 5.5 million attributable to a noncontrolling interest ) ( note 20 ) . leasing transactions we entered into net lease agreements for certain self-storage properties previously classified as operating properties . as a result , in june 2019 and august 2019 , we reclassified 22 and five consolidated self-storage properties , respectively , with an aggregate carrying value of $ 287.7 million from land , buildings and improvements attributable to operating properties to land , buildings and improvements subject to operating leases . effective as of those times , we began recognizing lease revenues from these properties , whereas previously we recognized operating property revenues and expenses from these properties ( note 5 ) . we restructured the leases with a tenant on a portfolio of grocery store and warehouse properties in croatia . for 19 properties , we reached agreements on new rents , reducing contractual rents , but increasing total contractual minimum annualized base rent ( “ abr ” ) from $ 10.2 million to $ 15.4 million . we extended the lease terms on these properties by a weighted average of three years . story_separator_special_tag w. p. carey 2019 10-k – 37 property level contribution is a non-gaap measure that we believe to be a useful supplemental measure for management and investors in evaluating and analyzing the financial results of our net-leased and operating properties included in our real estate segment over time . property level contribution presents our lease and operating property revenues , less property expenses , reimbursable tenant costs , and depreciation and amortization . reimbursable tenant costs ( within real estate revenues ) are now included within lease revenues in the consolidated statements of income ( note 2 ) . we believe that property level contribution allows for meaningful comparison between periods of the direct costs of owning and operating our net-leased assets and operating properties . while we believe that property level contribution is a useful supplemental measure , it should not be considered as an alternative to net income from real estate attributable to w. p. carey as an indication of our operating performance . existing net-leased properties existing net-leased properties are those that we acquired or placed into service prior to january 1 , 2017 and that were not sold or held for sale during the periods presented . for the periods presented , there were 787 existing net-leased properties . 2019 vs. 2018 — for the year ended december 31 , 2019 as compared to 2018 , lease revenues from existing net-leased properties increased by $ 9.2 million due to new leases , $ 8.2 million related to scheduled rent increases , $ 4.4 million related to completed construction projects on existing properties , and $ 3.1 million primarily due to accelerated amortization of an above-market rent lease intangible during the prior year in connection with a lease restructuring . these increases were partially offset by decreases of $ 10.1 million as a result of the weakening of foreign currencies ( primarily the euro ) in relation to the u.s. dollar between the years and $ 7.3 million due to lease expirations or early termination options . reimbursable tenant costs from existing net-leased properties increased primarily due to land lease payments for several properties recorded during the current year following the adoption of accounting standards update 2016-02 , leases ( topic 842 ) as of january 1 , 2019 ( note 2 ) , as a result of which we began recording such payments on a gross basis , as well as higher real estate taxes related to a domestic property . depreciation and amortization expense from existing net-leased properties decreased primarily due to accelerated amortization of two in-place lease intangibles during the prior year in connection with lease terminations , as well as the weakening of foreign currencies ( primarily the euro ) in relation to the u.s. dollar between the years . property expenses from existing net-leased properties increased primarily due to tenant vacancies during 2018 and 2019 , which resulted in property expenses no longer being reimbursable . net-leased properties acquired in the cpa:17 merger net-leased properties acquired in the cpa:17 merger on october 31 , 2018 ( note 3 ) consisted of 275 net-leased properties , as well as one property placed into service during the first quarter of 2019 , which was an active build-to-suit project at the time of acquisition in the cpa:17 merger . the 275 net-leased properties included 27 self-storage properties acquired in the cpa:17 merger , which were reclassified from operating properties to net-leased properties during the year ended december 31 , 2019 as a result of entering into net-lease agreements during the second quarter of 2019 ( note 5 ) . net-leased properties acquired in the cpa:17 merger contributed lease revenue , depreciation and amortization , and property expenses for a full year during 2019 , as compared to two months during 2018. recently acquired net-leased properties recently acquired net-leased properties are those that we acquired or placed into service subsequent to december 31 , 2016 , excluding properties acquired in the cpa:17 merger , and that were not sold or held for sale during the periods presented . since january 1 , 2017 , we acquired 40 investments , comprised of 121 properties ( two of which we acquired in 2017 , 75 of which we acquired in 2018 , and 44 of which we acquired in 2019 ) , and placed three properties into service ( two in 2018 and one in 2019 ) . 2019 vs. 2018 — for the year ended december 31 , 2019 as compared to 2018 , lease revenues increased by $ 23.3 million as a result of the 45 properties we acquired or placed into service during the year ended december 31 , 2019 and $ 37.7 million as a result of the 77 properties we acquired or placed into service during the year ended december 31 , 2018 . depreciation and amortization expense increased by $ 8.8 million as a result of the 45 properties we acquired or placed into service during the year ended december 31 , 2019 and $ 15.8 million as a result of the 77 properties we acquired or placed into service during the year ended december 31 , 2018 . w. p. carey 2019 10-k – 38 existing operating property we have one hotel operating property with results of operations reflected in all periods presented . in april 2018 , we sold another hotel operating property , which is included in properties sold or held for sale below . for the year ended december 31 , 2019 as compared to 2018 , property level contribution from our existing operating property was substantially unchanged . operating properties acquired in the cpa:17 merger operating properties acquired in the cpa:17 merger ( note 3 ) consisted of ten self-storage properties ( which excludes seven self-storage properties acquired in the cpa:17 merger accounted for under the equity method ) . aside from these ten operating properties , we acquired 27 self-storage properties in the cpa:17 merger ,

liquidity and capital resources sources and uses of cash during the year we use the cash flow generated from our investments primarily to meet our operating expenses , service debt , and fund dividends to stockholders . our cash flows fluctuate periodically due to a number of factors , which may include , among other things : the timing of our equity and debt offerings ; the timing of purchases and sales of real estate ; the timing of the repayment of mortgage loans and receipt of lease revenues ; the timing and amount of other lease-related payments ; the receipt of the asset management fees in either shares of the common stock or limited partnership units of the managed programs or cash ; the timing of distributions from equity investments in the managed programs and real estate ; the receipt of distributions of available cash from the managed reits ; the timing of settlement of foreign currency transactions ; and changes in foreign currency exchange rates . we no longer receive certain fees and distributions from cpa:17 – global following the completion of the cpa:17 merger on october 31 , 2018 ( note 3 ) . despite these fluctuations , we believe that we will generate sufficient cash from operations to meet our normal recurring short-term and long-term liquidity needs . we may also use existing cash resources , available capacity under our amended credit facility , proceeds from dispositions of properties , net contributions from noncontrolling interests , and the issuance of additional debt or equity securities , such as sales of our stock through our atm program , in order to meet these needs . we assess our ability to access capital on an ongoing basis . our sources and uses of cash during the period are described below .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources sources and uses of cash during the year we use the cash flow generated from our investments primarily to meet our operating expenses , service debt , and fund dividends to stockholders . our cash flows fluctuate periodically due to a number of factors , which may include , among other things : the timing of our equity and debt offerings ; the timing of purchases and sales of real estate ; the timing of the repayment of mortgage loans and receipt of lease revenues ; the timing and amount of other lease-related payments ; the receipt of the asset management fees in either shares of the common stock or limited partnership units of the managed programs or cash ; the timing of distributions from equity investments in the managed programs and real estate ; the receipt of distributions of available cash from the managed reits ; the timing of settlement of foreign currency transactions ; and changes in foreign currency exchange rates . we no longer receive certain fees and distributions from cpa:17 – global following the completion of the cpa:17 merger on october 31 , 2018 ( note 3 ) . despite these fluctuations , we believe that we will generate sufficient cash from operations to meet our normal recurring short-term and long-term liquidity needs . we may also use existing cash resources , available capacity under our amended credit facility , proceeds from dispositions of properties , net contributions from noncontrolling interests , and the issuance of additional debt or equity securities , such as sales of our stock through our atm program , in order to meet these needs . we assess our ability to access capital on an ongoing basis . our sources and uses of cash during the period are described below .
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 Suspicious Activity Report : immediately following the closing of the cwi 1 and cwi 2 proposed merger : ( i ) the advisory agreements with each of cwi 1 and cwi 2 will terminate ; ( ii ) the operating partnerships of each of cwi 1 and cwi 2 will redeem the special general partnership interests that we currently hold , for which we will receive approximately $ 97 million in consideration , comprised of $ 65 million in shares of cwi 2 preferred stock and 2,840,549 shares in cwi 2 common stock valued at approximately $ 32 million ; ( iii ) cwi 2 will internalize the management services currently provided by us ; and ( iv ) we will provide certain transition services at cost to cwi 2 for periods generally up to 12 months from closing of the proposed merger . please see our current report on form 8-k dated october 22 , 2019 for additional information . amended credit facility on february 20 , 2020 , we amended and restated our senior unsecured credit facility . we increased the capacity of our unsecured line of credit under our amended credit facility to $ 2.1 billion , which is comprised of a $ 1.8 billion revolving line of credit , a £150.0 million term loan , and a $ 105.0 million delayed draw term loan , all maturing in five years . the delayed draw term loan may be drawn within one year and allows for borrowings in u.s. dollars , euros , or british pounds sterling . the aggregate principal amount ( of revolving and term loans ) available under the amended credit facility may be increased up to an amount not to exceed the u.s. dollar equivalent of $ 2.75 billion , subject to the conditions to increase provided in the related credit agreement . we will incur interest at libor , or a libor equivalent , plus 0.85 % on the revolving line of credit , and libor , or a libor equivalent , plus 0.95 % on the term loan and delayed draw term loan ( note 20 ) . w. p. carey 2019 10-k – 26 financial highlights during the year ended december 31 , 2019 , we completed the following ( as further described in the consolidated financial statements ) : real estate investments we acquired 23 investments totaling $ 737.5 million ( note 5 ) we completed seven construction projects at a cost totaling $ 122.5 million . construction projects include build-to-suit and expansion projects ( note 5 ) . we committed to purchase a warehouse and distribution facility in knoxville , tennessee , for approximately $ 68.0 million upon completion of construction of the property , which is expected to take place during the second quarter of 2020 ( note 5 ) . we committed to purchase two warehouse facilities in hillerød and hammelev , denmark , for approximately $ 19.9 million ( based on the exchange rate of the danish krone at december 31 , 2019 ) upon completion of construction of the properties . one property was completed in january 2020 ( note 20 ) and the second property is expected to be completed during the first quarter of 2020 ( note 5 ) . we committed to fund an aggregate of $ 8.3 million ( based on the exchange rate of the euro at december 31 , 2019 ) for a warehouse expansion project for an existing tenant at an industrial and office facility in marktheidenfeld , germany . we currently expect to complete the project in the second quarter of 2020 ( note 5 ) . we committed to fund an aggregate of $ 3.0 million for an expansion project for an existing tenant at a warehouse facility in wichita , kansas . we currently expect to complete in the third quarter of 2020 ( note 5 ) . we committed to fund an aggregate of $ 56.2 million ( based on the exchange rate of the euro at december 31 , 2019 ) for a build-to-suit project for a headquarters and industrial facility in langen , germany , which we currently expect to be completed in the first quarter of 2021 ( note 5 ) . we committed to fund an aggregate of $ 70.0 million for a renovation project at a warehouse facility in bowling green , kentucky , which we currently expect to be completed in the fourth quarter of 2021 ( note 5 ) . dispositions as part of our active capital recycling program , we disposed of 22 properties for total proceeds of $ 382.4 million , net of selling costs ( note 17 ) . in january 2020 , we sold one of our two hotel operating properties for gross proceeds of $ 120.0 million ( inclusive of $ 5.5 million attributable to a noncontrolling interest ) ( note 20 ) . leasing transactions we entered into net lease agreements for certain self-storage properties previously classified as operating properties . as a result , in june 2019 and august 2019 , we reclassified 22 and five consolidated self-storage properties , respectively , with an aggregate carrying value of $ 287.7 million from land , buildings and improvements attributable to operating properties to land , buildings and improvements subject to operating leases . effective as of those times , we began recognizing lease revenues from these properties , whereas previously we recognized operating property revenues and expenses from these properties ( note 5 ) . we restructured the leases with a tenant on a portfolio of grocery store and warehouse properties in croatia . for 19 properties , we reached agreements on new rents , reducing contractual rents , but increasing total contractual minimum annualized base rent ( “ abr ” ) from $ 10.2 million to $ 15.4 million . we extended the lease terms on these properties by a weighted average of three years . story_separator_special_tag w. p. carey 2019 10-k – 37 property level contribution is a non-gaap measure that we believe to be a useful supplemental measure for management and investors in evaluating and analyzing the financial results of our net-leased and operating properties included in our real estate segment over time . property level contribution presents our lease and operating property revenues , less property expenses , reimbursable tenant costs , and depreciation and amortization . reimbursable tenant costs ( within real estate revenues ) are now included within lease revenues in the consolidated statements of income ( note 2 ) . we believe that property level contribution allows for meaningful comparison between periods of the direct costs of owning and operating our net-leased assets and operating properties . while we believe that property level contribution is a useful supplemental measure , it should not be considered as an alternative to net income from real estate attributable to w. p. carey as an indication of our operating performance . existing net-leased properties existing net-leased properties are those that we acquired or placed into service prior to january 1 , 2017 and that were not sold or held for sale during the periods presented . for the periods presented , there were 787 existing net-leased properties . 2019 vs. 2018 — for the year ended december 31 , 2019 as compared to 2018 , lease revenues from existing net-leased properties increased by $ 9.2 million due to new leases , $ 8.2 million related to scheduled rent increases , $ 4.4 million related to completed construction projects on existing properties , and $ 3.1 million primarily due to accelerated amortization of an above-market rent lease intangible during the prior year in connection with a lease restructuring . these increases were partially offset by decreases of $ 10.1 million as a result of the weakening of foreign currencies ( primarily the euro ) in relation to the u.s. dollar between the years and $ 7.3 million due to lease expirations or early termination options . reimbursable tenant costs from existing net-leased properties increased primarily due to land lease payments for several properties recorded during the current year following the adoption of accounting standards update 2016-02 , leases ( topic 842 ) as of january 1 , 2019 ( note 2 ) , as a result of which we began recording such payments on a gross basis , as well as higher real estate taxes related to a domestic property . depreciation and amortization expense from existing net-leased properties decreased primarily due to accelerated amortization of two in-place lease intangibles during the prior year in connection with lease terminations , as well as the weakening of foreign currencies ( primarily the euro ) in relation to the u.s. dollar between the years . property expenses from existing net-leased properties increased primarily due to tenant vacancies during 2018 and 2019 , which resulted in property expenses no longer being reimbursable . net-leased properties acquired in the cpa:17 merger net-leased properties acquired in the cpa:17 merger on october 31 , 2018 ( note 3 ) consisted of 275 net-leased properties , as well as one property placed into service during the first quarter of 2019 , which was an active build-to-suit project at the time of acquisition in the cpa:17 merger . the 275 net-leased properties included 27 self-storage properties acquired in the cpa:17 merger , which were reclassified from operating properties to net-leased properties during the year ended december 31 , 2019 as a result of entering into net-lease agreements during the second quarter of 2019 ( note 5 ) . net-leased properties acquired in the cpa:17 merger contributed lease revenue , depreciation and amortization , and property expenses for a full year during 2019 , as compared to two months during 2018. recently acquired net-leased properties recently acquired net-leased properties are those that we acquired or placed into service subsequent to december 31 , 2016 , excluding properties acquired in the cpa:17 merger , and that were not sold or held for sale during the periods presented . since january 1 , 2017 , we acquired 40 investments , comprised of 121 properties ( two of which we acquired in 2017 , 75 of which we acquired in 2018 , and 44 of which we acquired in 2019 ) , and placed three properties into service ( two in 2018 and one in 2019 ) . 2019 vs. 2018 — for the year ended december 31 , 2019 as compared to 2018 , lease revenues increased by $ 23.3 million as a result of the 45 properties we acquired or placed into service during the year ended december 31 , 2019 and $ 37.7 million as a result of the 77 properties we acquired or placed into service during the year ended december 31 , 2018 . depreciation and amortization expense increased by $ 8.8 million as a result of the 45 properties we acquired or placed into service during the year ended december 31 , 2019 and $ 15.8 million as a result of the 77 properties we acquired or placed into service during the year ended december 31 , 2018 . w. p. carey 2019 10-k – 38 existing operating property we have one hotel operating property with results of operations reflected in all periods presented . in april 2018 , we sold another hotel operating property , which is included in properties sold or held for sale below . for the year ended december 31 , 2019 as compared to 2018 , property level contribution from our existing operating property was substantially unchanged . operating properties acquired in the cpa:17 merger operating properties acquired in the cpa:17 merger ( note 3 ) consisted of ten self-storage properties ( which excludes seven self-storage properties acquired in the cpa:17 merger accounted for under the equity method ) . aside from these ten operating properties , we acquired 27 self-storage properties in the cpa:17 merger ,

