Profile: CapLease Inc (LSE.N)
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$8.49
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94,154
346,451
$8.74
$4.46
CapLease, Inc. is a real estate investment trust (REIT) that primarily owns and manages single tenant commercial real estate properties subject to long-term leases to high credit tenants. The Company focuses on properties that are subject to a net lease, or a lease that requires the tenant to pay all property operating expenses, such as utilities, real estate taxes, insurance and routine maintenance. It operates in two segments: operating real estate (including its investments in owned real properties) and debt investments (including its loan investments, as well as its investments in securities). In addition to its portfolio of owned properties, the Company has modest portfolio of first mortgage loans and other debt investments on single tenant properties. It has classified three propertie as multi-tenant properties. The other two properties are located in Omaha, Nebraska. In May 2012, the Company purchased a two office building complex located in Richardson, Texas outside of Dallas. In June 2012, the Company purchased approximately 175,000 square foot Class A office building located in The Woodlands in Houston, Texas. In July 2012, the Company sold Johnston, Rhode Island property. In December 2012, the Company purchased an approximately 145,000 square foot Class A office building located in the Energy Corridor of Houston, Texas and and acquired two adjacent single tenant office properties located in Englewood, Colorado. In December 2012, the Company acquired office building, located in San Antonio, Texas.
Owned Properties
The Company’s Owned properties consists approximately 95% of the Company’s portfolio on an investment basis. The Company invests in most commercial property types, such as office, warehouse, GSA and retail). It also analyzes the property’s real estate fundamentals, including location and type of the property, vacancy rates and trends in vacancy rates in the property’s market. As of December 31, 2011, it had approximately 11.6 million rentable square feet with 96.1% occupancy; 64 properties in 26 states and leases with 34 different tenants across the Single Tenant Owned Property Portfolio, and 95% investment grade or implied investment grade tenants in the Single Tenant Owned Property Portfolio. ). It owns the improvements on the land and controls the land through an estate for years with an option to enter into a ground lease at the expiration of the estate for years (Nestle and Kroger properties). For certain of its other owned properties, it owns the improvements on the land and control the land through a ground lease (Crozer-Keystone Health System, Omaha, and Nebraska properties). The approximate duration of its interest in these properties assuming the estate for year’s term, if any, and all ground lease options are exercised: Nestle properties, 61 years; Kroger properties, 70 years; Omaha, Nebraska properties, 64 years, and Crozer-Keystone Health System property, 35 years.
Loan Investments
Loan investments consist of approximately 2% of its portfolio. Its existing loan investments include long-term mortgage loans and corporate credit notes. As of December 31, 2011, it had weighted average remaining lease term on the underlying leases of approximately 14 years; 77% investment grade or implied investment grade underlying tenants, and loan investments on 13 properties in 12 states with seven different underlying tenant obligors.
Company Address
CapLease Inc
1065 Avenue of the Americas
NEW YORK NY 10018
P: +1212.2176300
F: +1212.2176301
Company Web Links
| Name | Compensation |
|---|---|
Paul McDowell |
1,339,040 |
William Pollert |
816,446 |
Shawn Seale |
1,127,660 |
Robert Blanz |
1,069,990 |
Paul Hughes |
696,762 |

