“W. P. Carey and Sun Products Complete $41 Million Build to Suit Financing for Distribution Center

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NEW YORK, NY — 06/22/10 — Investment firm W. P. Carey & Co. LLC (NYSE: WPC) announced today that CPA®:17 - Global, one of its publicly held non-traded REIT affiliates, has agreed to provide build to suit financing for a distribution center in Bowling Green, Kentucky for The Sun Products Corporation, a leading North America provider of fabric and dish care products. The financing will total approximately $41 million. When completed, the 1.4 million square foot facility will be leased to Sun Products under a long term triple net lease and will enable the company to consolidate operations of nine other facilities in the Bowling Green area. Located adjacent to one of Sun Products’ four manufacturing plants, the distribution center will be one of two distribution facilities serving the entire East Coast.

The Sun Products Corporation, headquartered in Wilton, Connecticut, was established in September 2008 by the merger of Unilever’s North American fabric care business and Huish Detergents Inc. The company’s product portfolio includes well known brands in the laundry and dish care market, including Wisk, all, Sunlight, and Snuggle, as well as many laundry and dish care private label brands for retailers. Sun Products is a portfolio company of private equity firm, Vestar Capital. “

leaseback, sale leaseback, sale-leaseback, sale and leaseback

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7-Eleven Seeking $40 Million Sale Leaseback of 24 U.S. Convenience Stores

CSP Information Group - June 3, 2010

7-Eleven Inc. has retained Mehran Foroughi, senior vice president for Colliers International, the third-largest real-estate services organization globally, to sell 24 retail properties anchored by 7-Eleven. The portfolio, valued at approximately $40 million, is owned and operated by 7-Eleven.

The 7-Eleven anchored properties, primarily located in California and throughout the United States, all include at least one co-tenant, with AutoZone as a co-tenant in some locations. All of the 7-Eleven convenience store leases are triple net lease (NNN) and guaranteed by 7-Eleven.

“Colliers International was retained by 7-Eleven as the listing broker because of our aggressive, targeted marketing platform,” said Foroughi, the exclusive listing agent for the portfolio. “We are marketing the properties as a portfolio, although offers on individual sites are also welcome.”

Based in Dallas, 7-Eleven is the world’s largest operator, franchisor and licensor of convenience stores with more than 37,600 units worldwide of which more than 8,100 are in North America.

The announcement follows the early March sale of a portfolio of a dozen 7-Eleven stores to several buyers for a combined value of more than $20 million. The stores retained the 7-Eleven brand in what were essentially sale-leaseback arrangements. “Their intention is not to leave, their intention was just to unload this property as a landlord,” Colliers representative Mehran Foroughi told CSP Daily News about the Dallas-based retail giant at the time.

The 12 locations in Nevada, Texas and Virginia were acquired from 7-Eleven through all-cash deals.

Foroughi, said that five stores in the Dallas metropolitan area were sold to a California buyer. The six stores in Virginia were claimed by three individual buyers and the lone store in Las Vegas ended up in the portfolio of a Dallas-based company. Sphere: Related Content

Sale and leaseback, sale leaseback, sale-leaseback, leaseback

State selling more buildings
to ease budget deficit

by Mary Jo Pitzl - Jun. 2, 2010 12:00 AM
The Arizona Republic

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More state buildings go up for sale next week, as officials hope to raise $300 million
by selling and then leasing back the schools for deaf and blind children, more state
prisons and other structures.

It’s the second time this year that the state has sold buildings to help close the state
budget deficit. A sale-leaseback in January raised $735.4 million for the state. The
healthy response prompted lawmakers to authorize a second sale. Proceeds will be
used to balance the current-year budget.

The sale begins Tuesday, and will continue until the $300 million has been raised.
Investors will be required to make purchases in $5,000 installments, according to
information on the Arizona Department of Administration’s website.

Investors must work through a list of underwriters provided by the state.

A full listing can be found at www.azdoa.gov/news.

The state retains control of the buildings, which it will continue to occupy and lease
back from investors.

The sale-leaseback comes on the heels of last week’s action in which the state
borrowed $450 million against the proceeds of future state Lottery revenues. The money also will help balance the current-year budget. Those bonds carried an interest rate
of 4.27 percent.

Next week’s sale-leaseback is expected to carry a similar interest rate, said Michael
Smarik, deputy state comptroller, although the rate won’t be set until next week.

While the sale-leaseback provides quick cash for the state, it also costs the state more in
the long run. The $735 million sale-leaseback from earlier this year carried $400
million in interest costs over 30 years, for a total payback of $1.1 billion.

It’s hard to calculate the cost to the state of Tuesday’s offering until the interest rate is
set.

Sale-leaseback, sale and leaseback, sale leaseback, leaseback