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Volume 3 - Number 15 | August 2, 2005
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TOP STORY: CapLease To Buy Nearly $100M of Government-Leased Properties
By Michelle Napoli
Capital Lease Funding Inc. has agreed to buy five properties that are leased in their entirety to the federal government for an aggregate purchase price of $97.5 million. The properties—in Birmingham, AL; Sandy, UT; Kansas City, KS and Austin, TX—total approximately 292,000 sf and have a weighted average remaining lease term of about 16 years.
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INSIDER: Upland Real Estate Group's Michael Houge
By Michelle Napoli
n addition to a steadily growing net-lease property brokerage business, Minneapolis-based Upland Real Estate Group Inc. has been expanding its reach into the fund and TIC businesses. Read on to find out what Upland principal Michael Houge has to say about 1031 exchange investors' preferences in today's competitive market.
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iStar Expects to Exceed Original Auto Dealership Goal, But Competition Mounts
By Michelle Napoli
iStar Financial Inc. has completed the integration of Falcon Financial Investment Trust into its AutoStar platform, and the AutoStar team is busy building its brand identity in the high-end auto dealership client space, iStar CFO Catherine D. Rice reported during the REIT's second-quarter conference call on July 26. But competition in the auto dealership property niche is mounting.
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Dividend Capital Trust Closes Private REIT Buy
By Michelle Napoli
Non-listed REIT Dividend Capital Trust has acquired private REIT Cabot Industrial Value Fund Inc., which owns 87% of Cabot Industrial Value Fund LP. That fund, in turn, controls a portfolio of 105 industrial buildings totaling 11.7 million sf valued at $695 million. The deal adds to a very busy year for industrial property transactions, even though this sector is the smallest piece of the net lease universe.
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