News: Financial Digest
Posted: November 12, 2008
Citizens Bank and Bank of America provide STAG $80m for investment fund
Citizens Bank and Bank of America are providing $80 million to STAG Capital Partners to finance the company's acquisition of its fourth realty investment fund, composed of warehouse, flex, manufacturing and office building properties. Citizens Bank is the agent and Bank of America is the co-agent on the financing deal.
"We are pleased to work with Citizens Bank and Bank of America on this important financing," said Benjamin Butcher, CEO STAG. "They demonstrated a deep understanding of our business and investment strategy."
STAG acquires and manages single-tenant, net leased real estate assets purchased through third-party transactions and corporate sale-leasebacks. STAG also specializes in providing liquidity to corporate real estate owners through sale-leaseback transactions.
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