CapLease Closes $18.1 Million Acquisition of Class A Office Building
CapLease Closes $18.1 Million Acquisition of Class A Office Building
- Company Completes over $185 Million of Acquisitions in 2012 -
NEW YORK--(BUSINESS WIRE)-- CapLease, Inc. (NYS: 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.
Investor Relations/Media:
ICR, LLC
Brad Cohen, 212-217-6393
bcohen@icrinc.com
KEYWORDS: United States North America New York Texas
INDUSTRY KEYWORDS:
The article CapLease Closes $18.1 Million Acquisition of Class A Office Building originally appeared on Fool.com.
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