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Advanced Micro Devices Inc Executes Purchase Agreement to Sell and Lease-Back Austin Campus
Advanced Micro Devices Inc announced that it has entered into an agreement to sell and lease-back its Lone Star Campus located at 7171 Southwest Parkway in Austin, Texas to 7171 Southwest Parkway Holdings, LP, an affiliate entity of real estate investment company Spear Street Capital. Upon closing, net of all fees, the sale is expected to generate approximately $164 million in cash. At closing, AMD will enter into a 12-year lease with an extension option to continue its operations on the campus. The transaction is expected to close on or about March 26, 2013.
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