CapLease 2012 Acquisition Volume Grows to over $165 Million

  CapLease 2012 Acquisition Volume Grows to over $165 Million

                      - Closes $35.5 Million Acquisition
- Agrees to Acquire Two Additional Office Buildings for Total of $26.1 Million

Business Wire

NEW YORK -- December 07, 2012

CapLease, Inc. (NYSE: LSE)  announced today the closing of the previously
announced purchase of an approximately 145,000 square foot Class A office
building located in the Energy Corridor of Houston, Texas for a purchase price
of $35.5 million. The building is 90% leased to WorleyParsons Limited, an
Australian listed energy and resource service engineering company with a
market capitalization of over $6 billion. The WorleyParsons lease runs through
December 2019. The remaining square footage in the building is leased by two
other credit worthy tenants.

CapLease’s average capitalization rate for the property is approximately 8.2%.
The Company expects to complete a 55% loan-to-cost non-recourse mortgage of
the property prior to December 31, 2012. The approximately $19.5 million first
mortgage loan is expected to be priced at a coupon of 4%, with a ten year

CapLease also announced that it that it has entered into a binding contract to
acquire two adjacent office buildings in a major market in the Southwestern
United States for a total purchase price of $26.1 million. The Company’s
average capitalization rate for the properties will be over 9%. CapLease
expects to close the acquisition prior to December 31, 2012.

Paul McDowell, Chairman and Chief Executive Officer, stated, “As we have done
consistently over the last two years, these latest acquisitions demonstrate
our ability to add high quality, well located properties at better than
average returns. We are also optimistic we will be able to add at least one
more high quality accretive transaction to the portfolio prior to year-end,
and our recently announced block sale of common stock through the ATM program
has given us the capital to close within that timeframe.”

Completion of the pending transactions described in this press release is
subject to customary closing conditions and, therefore, no assurance can be
given that CapLease will complete such transactions, or that the timing or
terms of such transactions will not differ materially from CapLease’s

About the Company:

CapLease, Inc. is a real estate investment trust, or REIT, that primarily owns
and manages a diversified portfolio of single tenant commercial real estate
properties subject to long-term leases to high credit quality tenants.


Investor Relations/Media Contact:
Brad Cohen, 212-217-6393
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