NRF » Topics » Acquisitions

This excerpt taken from the NRF 10-Q filed Nov 9, 2007.

Acquisitions

        In October 2007, our Wakefield joint venture closed on a $32.5 million acquisition of a portfolio of six assisted livings facilities totaling 153,888 square feet located in North Carolina. The properties are

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net leased to a single tenant under a lease that expires in October 2022. The portfolio was financed with a five-year mortgage totaling $17.5 million, which bears a fixed interest rate of 6.98% and matures in October 2012. The balance of the acquisition was paid in cash.

This excerpt taken from the NRF 10-Q filed Aug 9, 2007.

Acquisitions

In February 2007, the Company purchased a 178,213 square foot office property located in Milpitas, CA for $30.0 million. The property is net leased for ten years. The Company financed the acquisition with a $23.3 million non-recourse first mortgage which bears a fixed interest rate of 5.95% and matures on March 6, 2017, and the balance in cash.

In March 2007, the Company purchased a 165,000 square foot office property located in Fort Mill, SC for $34.2 million. The property is net leased with a remaining lease term of 13.6 years. The Company financed the acquisition with a $27.7 million non-recourse first mortgage, bearing a fixed interest rate of 5.63%, a mezzanine loan of $3.4 million which bears a fixed interest rate of 6.21% and both loans mature on April 6, 2017, and the balance in cash.

In June 2007, the Company purchased a 609,000 square foot office property located in Reading, PA for $28.1 million. The property is net leased with a remaining lease term of 10.4 years. The Company assumed the existing financing, a $14.5 million mortgage which bears a fixed interest rate of 5.58% and matures on January 1, 2015 and a $5.0 million mortgage which bears a fixed interest rate of 6.00% and matures on January 1, 2015. The balance of the acquisition was paid in cash.

This excerpt taken from the NRF 10-Q filed May 10, 2007.

Acquisitions

In February 2007, the Company purchased a 178,213 square foot office property located in Milpitas, CA for $30.0 million. The property is net leased for ten years. The Company financed the acquisition with a $23.3 million non-recourse first mortgage which bears a fixed interest rate of 5.95% and matures on March 6, 2017, and the balance in cash.

In March 2007, the Company purchased a 165,000 square foot office property located in Fort Mill, SC for $34.2 million. The property is net leased with a remaining lease term of 13.6 years. The Company financed the acquisition with a $27.7 million non-recourse first mortgage, bearing a fixed interest rate of 5.63%, a mezzanine loan of $3.4 million which bears a fixed interest rate of 6.21% and both loans mature on April 6, 2017, and the balance in cash.

This excerpt taken from the NRF 10-Q filed Aug 9, 2006.

Acquisitions

On March 23, 2006, the Company closed on a $21.8 million acquisition of a suburban office building located in Rockaway, New Jersey totaling 121,038 square feet of rentable space (the “Green Pond Property”). The property is net leased to two tenants under leases that expire in 2015 and 2017. The Company financed the acquisition with a $17.5 million non-recourse, first mortgage bearing a fixed interest rate of 5.68%, maturing on April 11, 2016, and the balance in cash.

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