CapLease Closes $18.1 Million Acquisition of Class A Office Building
- Company Completes over $185 Million of Acquisitions in 2012 -
NEW YORK -- January 3, 2013
CapLease, Inc. (NYSE: LSE) announced today that it closed in December 2012,
the previously announced acquisition of an $18.1 million office building,
located in San Antonio, Texas. Inclusive of this purchase, the Company’s 2012
acquisition volume exceeds $185 million.
The approximately 96,000 square foot Class A office building is leased to two
single A rated large corporate tenants. Approximately 71% of the square
footage in the building is leased through May 2021 to Becton, Dickinson and
Company (S&P/Moody’s: A/A3). The remaining square footage in the building is
leased through October 2022 to United Healthcare Services, Inc., a subsidiary
of UnitedHealth Group Incorporated (S&P/Moody’s: A/A3). CapLease’s average
capitalization rate for the property is approximately 9.0%.
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.
Brad Cohen, 212-217-6393
Press spacebar to pause and continue. Press esc to stop.