8-K

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                            ------------------------

                                    FORM 8-K


                                 CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(D) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

                            ------------------------

DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED):  DECEMBER 15, 2005

                              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                                     10020
               NEW YORK, NY                                       (ZIP CODE)
  (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)


                                 (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))



ITEM 8.01 OTHER EVENTS.

On December 15, 2005, W. P. Carey & Co. LLC (the "Company") announced that its
Board of Directors approved a $20 million share repurchase program. The program
provides that the Company is authorized to repurchase up to $20 million shares
of its common stock in the open market starting from the date of commencement,
December 16, 2005, over the next 12 months as conditions warrant.


ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

(c) Exhibits

99.1 Press Release issued on December 15, 2005.

                                   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: December 15, 2005                By: /s/ Mark J. DeCesaris
                                           -------------------------------------
                                           Mark J. DeCesaris
                                           Managing Director and acting
                                           Chief Financial Officer

EX-99.1

FOR IMMEDIATE RELEASE:

     MEDIA CONTACT:                              INVESTOR CONTACT:
     Curt Ritter, 212-492-8989                   Susan Hyde, 212-492-1151
     critter@wpcarey.com                         shyde@wpcarey.com
     Media Kit: www.wpcarey.com/MediaKit


                         W. P. CAREY & CO. LLC ANNOUNCES
                      $20 MILLION SHARE REPURCHASE PROGRAM
                        INCREASES FOURTH QUARTER DIVIDEND

     NEW YORK, NY, December 15, 2005 - Investment firm W. P. Carey & Co. LLC
(NYSE: WPC) announced today that its Board of Directors has approved a share
repurchase program authorizing the Company to repurchase up to $20 million of
the Company's outstanding shares. The program provides that the Company is
authorized to repurchase these shares through open market transactions over the
next 12 months starting from the date of commencement, December 16, 2005. The
timing and amount of repurchase transactions will depend on market conditions
and regulatory considerations, and may be suspended or discontinued at any time.
As of November 30, 2005 the Company had 37,867,006 shares outstanding.

     In addition, W. P. Carey's Board of Directors approved increasing the
Company's quarterly cash dividend to $.45 per listed share for the quarter
ending December 31, 2005. This represents the nineteenth consecutive quarterly
increase. The dividend is payable on January 16, 2006 to shareholders of record
as of December 31, 2005. The Company has increased dividends every year since it
became public.

     Founded in 1973, W. P. Carey & Co. is a global investment firm concerned
with assisting corporations with long-term financing. The Company also provides
asset management services to the Corporate Property Associates (CPA(R)) series
of real estate investment trusts (REITs). The W. P. Carey Group (which includes
the CPA(R) REITs), with $3.5 billion in equity capital, is one of the leading
providers of net lease financing for corporate properties worldwide. The Group
owns more than 700 commercial and industrial


                                                                               2

properties worldwide, representing more than 90 million square feet, valued at
approximately $7.4 billion. www.wpcarey.com

     Individuals interested in receiving future updates on W. P. Carey via
e-mail can register at www.wpcarey.com/alerts.

     THIS PRESS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS WITHIN THE MEANING
OF THE FEDERAL SECURITIES LAWS. A NUMBER OF FACTORS COULD CAUSE THE COMPANY'S
ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENT TO DIFFER MATERIALLY FROM THOSE
ANTICIPATED. AMONG THOSE RISKS, TRENDS AND UNCERTAINTIES ARE THE GENERAL
ECONOMIC CLIMATE; THE SUPPLY OF AND DEMAND FOR OFFICE AND INDUSTRIAL PROPERTIES;
INTEREST RATE LEVELS; THE AVAILABILITY OF FINANCING; AND OTHER RISKS ASSOCIATED
WITH THE ACQUISITION AND OWNERSHIP OF PROPERTIES, INCLUDING RISKS THAT THE
TENANTS WILL NOT PAY RENT, OR THAT COSTS MAY BE GREATER THAN ANTICIPATED. FOR
FURTHER INFORMATION ON FACTORS THAT COULD IMPACT THE COMPANY, REFERENCE IS MADE
TO THE COMPANY'S FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION.

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