Inland officials say this deal is innovative in the way itinvolves both the public and private sector.

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"This innovative transaction allows Imagine to focus on itscritical mission of public student education and development, whilewe focus on providing the capital for the bricks and mortar," saysChuck Jones, president and CEO of IPPD. "We think this is the truedefinition of a public-private partnership, and one that positionsIPPD for continued growth in the social infrastructurecommunity."

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The seven charter schools are located in Arizona, Colorado,Florida, Maryland, and Washington, DC. Imagine will lease back theschools for 20 years on a triple-net master lease. The rental rateon the deal was not disclosed.

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"This transaction demonstrates our commitment to socialinfrastructure assets, which are stable, income producingproperties supported by state and federal funding programs," saysLori Foust, CFO of Inland American Business Manager & AdvisorInc. "These charter schools are strong additions to InlandAmerican's diverse portfolio."

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Imagine has 71 public charter schools educating more than 36,000children in 11 states and Washington, DC.

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