CapLease Agrees to Acquire Class A Office Property

NEW YORK--(BUSINESS WIRE)--CapLease, Inc. (NYSE: LSE) announced today that it has entered into a binding contract to acquire a Class A office building in a major market in the Northeastern United States for a purchase price of approximately $50 million. The property is leased to an investment grade tenant for an approximately 9.5 year remaining lease term, and the Company’s average capitalization rate for the property will be over 8%.

The acquisition is scheduled to close during the second quarter of 2013, although closing is subject to customary closing conditions and, therefore, no assurance can be given that CapLease will complete such transaction on the agreed upon terms or at all.

About the Company:

CapLease, Inc. is a real estate investment trust, or REIT, that primarily owns and manages a diversified portfolio of single tenant commercial real estate properties subject to long-term leases to high credit quality tenants.