W.P. Carey Buys Two JP Morgan Facilities

TAMPA, FL-W.P Carey’s Corporate Property Associates, otherwise known as CPA 17-Global, a non-traded public REIT affiliate, purchased two office towers in Tampa from Brookfield Real Estate Opportunity Group, an affiliate of Brookfield Asset Management. The sale of the two buildings, which are fully-occupied by JP Morgan Chase, closed at the end of last week for an undisclosed sum.

The sale follows W.P. Carey’s February purchase from Brookfield of a 386,000-square-foot operations center in Dallas leased to JP Morgan Chase. While the New York City-based Carey specializes in long-term, sale-leaseback and build-to-suit financing for companies throughout the world, the Tampa purchase was a more straight-forward acquisition, even though the leases at the building helped determine the value of the property.