chi-traverse city (3)CHICAGO—Capri EGMrecently acquired through a sale leaseback dealthe four-building headquarters ofHagerty,an insurance provider for classic vehicles and vintage boats, inTraverse City, MI. Hagerty also signed a long term absolute netlease with the Chicago-based investor. The purchase price for theproperties was not disclosed, but the deal does include annual rentincreases.The propertyconsists of four class A buildings and one data center along theBoardman River and less than one-half mile from Lake Michigan.Hagerty was founded in Traverse City, the largest city in northernMI, more than 30 years ago and about 600 employees conduct globaloperations from this facility. The move fits Capri's strategy of acquiringinstitutional quality single-tenant office, industrial, and retailnet lease properties. As reported in GlobeSt.com, the companyrecently acquired pharmaceutical companyGenzyme Corp.'soperations and distribution center at 11 ForbesRd. in Northborough, MA, another long term net lease deal with aglobal firm."This transactionwith Hagerty illustrates how Capri EGM's ability to provide saleleaseback financing and structure complex transactions makes us anattractive alternative source of long-term capital for creditworthygrowing companies,” saysShelby E. L. Pruett, Capri EGM's co-chairman and chief executiveofficer. “By unlocking value through creative structuring andcapital efficiency, we are committed to building long-term valuefor our institutional and corporate partners.”chi-traverse city (3)CHICAGO—Capri EGMrecently acquired through a sale leaseback dealthe four-building headquarters ofHagerty,an insurance provider for classic vehicles and vintage boats, inTraverse City, MI. Hagerty also signed a long term absolute netlease with the Chicago-based investor. The purchase price for theproperties was not disclosed, but the deal does include annual rentincreases.The propertyconsists of four class A buildings and one data center along theBoardman River and less than one-half mile from Lake Michigan.Hagerty was founded in Traverse City, the largest city in northernMI, more than 30 years ago and about 600 employees conduct globaloperations from this facility. The move fits Capri's strategy of acquiringinstitutional quality single-tenant office, industrial, and retailnet lease properties. As reported in GlobeSt.com, the companyrecently acquired pharmaceutical companyGenzyme Corp.'soperations and distribution center at 11 ForbesRd. in Northborough, MA, another long term net lease deal with aglobal firm."This transactionwith Hagerty illustrates how Capri EGM's ability to provide saleleaseback financing and structure complex transactions makes us anattractive alternative source of long-term capital for creditworthygrowing companies,” saysShelby E. L. Pruett, Capri EGM's co-chairman and chief executiveofficer. “By unlocking value through creative structuring andcapital efficiency, we are committed to building long-term valuefor our institutional and corporate partners.”

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Brian J. Rogal

Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.

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