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W.P. Carey buys dairy company facility for $41M

NEW YORK (AP) -- W. P. Carey Inc., a real estate investment trust, said Monday that one of its affiliates bought Royal FrieslandCampina's new European innovation center in the Netherlands for about $41 million.

Royal FrieslandCampina is one of the largest dairy companies in Europe. It has about 20,000 employees in 28 countries and generated $13.4 billion in revenue last year.

Construction of the new facility was completed this month. W.P. Carey said the move is its second deal in the Netherlands this year and is in line with its strategy of acquiring assets with long-term, single-tenant leases.

W.P. Carey shares rose 22 cents to $70.05 in afternoon trading.