(Read more on the netlease market.)
NEW YORK CITY-Capital Lease Funding Inc. has closed on a$364.4-million acquisition that includes 18 net-leased propertiesand $159.3 million of debt. Wachovia Bank NA provided locally basedCapLease with a $211-million short-term bridge loan.
"We view this acquisition as a very important milestone for ourcompany for several reasons," says CEO Paul McDowell. "Ourportfolio of high quality real estate assets now exceeds $2billion, over 75% of which is owned office, industrial and retailproperties. In a little more than three years since going public,we have built an owned property portfolio of over 10 million sf. Inaddition, this acquisition highlights our ability to successfullysource, underwrite and close a large and complex portfolio of highquality assets."
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