Adding Quality Office & Industrial Assets

The CapLease team is actively seeking real estate investment opportunities after joining American Realty Capital Properties.

CapLease was acquired by American Realty Capital Properties (NASDAQ: ARCP) on November 5, 2013. Following the merger, CapLease’s senior management and origination teams joined ARCP and will be responsible for growing the company’s $4 billion single-tenant net lease office and industrial business.

Now with an even stronger balance sheet, we are pursuing continued portfolio growth through both existing property acquisitions and our Construction to Acquisition Program, applying essentially the same underwriting standards that CapLease was built upon.

Overview of Acquisition Guidelines

  • Single-tenant, net-leased property or portfolio properties; also consider multi-tenanted properties where one credit-rated tenant accounts for a substantial share of the property cash flow
  • Lessee or guarantor rated or implied rated at least BB- by Standard & Poor’s and/or Ba3 by Moody’s; also consider well located properties leased to unrated tenants with strong balance sheets and income history who are leaders in their market segment
  • All types of credit-rated tenants including corporate (domestic and foreign), retail, government (GSA, municipal), healthcare, and education
    • Remaining lease term of at least 5 years
    • Minimum deal size of $10 million
    • Structures involving leasehold or condominium interests and other complexities are acceptable

Construction to Acquisition Program (CAP)

Under the CAP program, we partner with established developers for build-to-suit office, industrial, and retail projects. We provide up to 100% construction financing and then acquire the finished property at a prearranged price.

CAP projects must meet the following criteria:

  • $10 million or larger
  • Leased for 10+ years to financially strong tenant upon completion
  • Completed within 18 months