Saturday, May 05, 2007

84 Lumber Completes $200 million Sale Leaseback of 53 Wholesale/Retail Sites

84 Lumber Web Site - May 2, 2007

Spirit Finance Corporation, a real estate investment trust focused on single tenant real estate, today announced that it completed a $200 million sale/leaseback transaction with affiliates of 84 Lumber Company, the nation’s leading privately held materials and services supplier to professional builders.

The acquisition was partially funded with a $150 million long-term fixed-rate mortgage note financed through Barclays Capital Real Estate Inc. and secured by the real estate assets acquired. Spirit purchased 53 wholesale/retail lumber sales and supply centers and one truss manufacturing plant. A subsidiary of 84 Lumber Company has agreed to lease the properties for an initial period of 20 years, subject to a master lease with a multi-windowed purchase option and multiple renewal options. Sphere: Related Content

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