Monday, January 15, 2007

National Envelope Completes $75 Million Sale Leaseback of Nine US Facilities

Spirit Finance Web Site - January 12, 2007

Spirit Finance Corporation (NYSE: SFC), a real estate investment trust focused on single tenant, operationally essential real estate, today announced that it completed a $75 million sale/leaseback transaction with National Envelope Corporation ('NEC'), the world's largest envelope manufacturer, on December 28, 2006.

Spirit purchased nine of NEC's manufacturing facilities which also include warehousing and distribution space. NEC has agreed to lease the buildings for an initial period of 20 years, subject to a master lease with multiple renewal options.

Founded in 1952, National Envelope Corporation manufactures a wide variety of envelopes. The Company's primary markets are domestic paper merchants, envelope imprinters and direct mailers located primarily throughout North America. NEC currently has 21 manufacturing facilities and two administrative offices in the United States, as well as one distribution center in Canada. Sphere: Related Content

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