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MIAMI-New York City-based W.P. Carey & Co acquired the 247,000 sf headquarters and distribution facility of Trends Clothing Corp. in Miami and then rented the building back to Trends on a 15-year bond-type net lease in a deal valued at $14.8 million.

The facility was purchased by W.P.’s subsidiary REIT, Corporate Property Associates 15 Inc., and represents part of the investment firm’s $168 million in sale-leaseback transactions in the 2002 second quarter.

Located within the Beacon Station Business Park, Trends Clothing facility is a designer and marketer of children and men’s apparel. The company’s facility won the 2002 Tilt-Up Concrete Association Annual Achievement Award for the design of the distribution and warehouse center.

“This property represents the latest addition to the growing portfolio of properties acquired by W.P. Carey’s newest real estate investment trust CPA(R)15,” Anne R. Coolidge, W.P. executive director, says in a prepared statement.

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