Thank you for sharing!

Your article was successfully shared with the contacts you provided.

FARMERS BRANCH, TX-The Dallas-based i2 Technologies Inc. will pay $14.4 million to its Portland, OR-based building owner to get out from under a lease through October 2011 at the 189,088-sf Two Colinas Crossing in the Dallas suburb of Farmers Branch.

The termination agreement is part of i2′s restructuring plan. The firm vacated the four-year-old building at 11511 Luna Rd. in January, setting off talks with building owner, Park West Fairview Associates of Portland, OR. The high-tech firm still occupies One Colinas Crossing at 11701 Luna Rd.

The tech firm, founded in 1998, would have paid $37.7 million over the lease term, but instead will be paying about $7.5 million in cash and issuing a $6.8-million, non-negotiable promissory note for the settlement. The note is to be paid by Dec. 15, 2006, and carries an annual interest rate of 5.25%, payable semi-annually in arrears, according to a company press release.

The software developer’s second-quarter transactions also included pre-paying a $60.9-million senior note issued by 12 in connection with the acquisition of Trade Service Corp. and EC-Content. The $59.2 payment satisfied the debt, officials said. The note, bearing a 7.5% annual interest rate, was set to mature Sept. 23. The settlement represents a discount of about 5.5% on principal and interest accrued to date, the company said.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.