W. P. Carey & Co. buys two office buildings

BUYER: Corporate Property Associates 17 - Global Inc.

SELLER: Brookfield Real Estate Opportunity Group

PROPERTY: Two Independence Parkway, Tampa

PRICE: $57.2 million

PLANS, DESCRIPTION: New York-based investment management firm W.P. Carey & Co bought two buildings for $57.2 million.

The company made the purchase through Corporate Property Associates 17 - Global Inc., its affiliated non-traded Real Estate Investment Trust. Brookfield Real Estate Opportunity Group, an affiliate of Brookfield Asset Management, sold the properties.

The two Westshore buildings, at Two Independence Parkway, contain 312,000 square feet of commercial space. JPMorgan Chase has long-term leases on both buildings with multiple renewal options.

“The assets meet our criteria of investing in income-generating properties leased to established corporate tenants on a long term basis,” W. P. Carey Managing Director Jason Fox, says in a press release.

W. P. Carey provides real estate services and financing for companies worldwide. It also manages a $10 billion global investment portfolio.