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CPA:17 – Global Acquires Office and Data Center in San Antonio for $22M

by Haisten Willis

SAN ANTONIO — W. P. Carey Inc., a global net lease REIT specializing in corporate sale-leaseback financing, build-to-suit financing and the acquisition of single-tenant net lease properties, has acquired an office and data center facility on behalf of CPA:17  Global, one of its managed non-traded REITs. The 120,147-square-foot facility is located in San Antonio and is leased to iHeartCommunications Inc. for a period of 20 years. The total acquisition price was approximately $22 million. Constructed in 2002 as a build-to-suit for Clear Channel, the facility serves as the company’s primary IT and finance shared service center.

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