CapLease is a seasoned buyer of single-tenant properties subject to long-term leases. We hold the properties we acquire on our balance sheet as long-term investments. As recognized experts in single-tenant transactions, we are able to respond quickly and completely to a client's requests. Since our bids are based on an in-depth knowledge of the real estate and net-lease market, clients know that our bids are realistic, and if accepted, we will move rapidly through due diligence and closing.

While CapLease's focus is on single-tenant properties leased to a high-credit quality tenants, we are not constrained by property or industry type. Any seller of a single-tenant property leased to a corporate or government tenant should contact CapLease as a potential buyer.

Our general acquisition criteria include:

• Single tenant, generally net-lease property or portfolio properties (double net, triple net, and bond leases).
  • CapLease will consider investment in multi-tenanted properties as long as one or more credit tenants account for a substantial share of the property cash flow. For example, we will consider an office building substantially leased to a credit tenant or anchored retail with substantial credit income in place.
• Lessee or guarantor rated or implied rated at least BB- by S&P and/or Ba3 by Moody's. All types of credit tenants including corporate (domestic and foreign), retail, government (GSA, municipal), healthcare, and education qualify.
• All property types (i.e. office, industrial, retail, medical office, data units).
• Remaining lease term of at least 8 years.
• Minimum deal size: $10 million
• Structures involving leasehold or condominium interests and other complexities are acceptable.

Forward Purchase and Tax Deferred Exchanges

CapLease has the flexibility to enter into forward purchase agreements to acquire properties upon completion of construction or on a date that enables a seller to achieve its objectives, whether motivated by long-term capital gain advantages, 1031 exchange rules, or other factors.

For sellers looking for tax deferral opportunities, CapLease also has the flexibility to acquire properties in exchange for units in our operating partnership, CapLease, LP (click here for more information).

For more information, contact the investment manager responsible for your geographic region at (212) 217-6300.