The facility will be leased under a 20-year bond-type net lease. The property was purchased under a triple-net lease. The $22 million sale price includes additional construction costs for the facility, which is scheduled to be completed by this fall.

Besides Blackstone staff, plans also call for the building, located at 3400 N.W. 115th Ave., to house a fitness center, a day-care center, a salon, a 24-hour cafeteria and a convenience store. Currently, Blackstone is located at 11600 N.W. 34th St. in Miami.

"This financing transaction will provide Blackstone with additional capital to maintain its leadership position in the $6.5 billion prepaid phone card industry," Anne R. Coolidge, a managing director at W.P. Carey, says in a statement. "By completing this sale-leaseback, Blackstone's talented management team has shown that they understand the advantages of this alternative form of financing, and we look forward to a long-term relationship with them."