STAG Industrial – STAG – Announces Agreement With Columbus Nova

STAG Industrial, Inc. (NYSE:STAG) announces that Columbus Nova Real Estate Acquisition Group, Inc. (“CRAG”) has agreed to source sale leaseback transactions for potential acquisition by STAG. Under its agreement with STAG, CRAG will source and aid in the structuring of transactions and, after acquisition, will provide tenant credit management services.

The agreement contemplates STAG’s potential acquisition of up to $300 million of properties under this initiative over the next three years.

Amos Beason, Chief Executive Officer of CRAG, stated, “We have known and respected the STAG management team for many years. Working together, we will be able to deliver competitive funding to growing middle market companies and their sponsors, nationwide.” As the first step in this initiative, STAG has entered into a purchase agreement to acquire six industrial properties representing approximately 750,000 square feet in total. STAG expects that the aggregate purchase price of approximately $31 million will be funded from currently available cash. Various conditions to closing for these properties have yet to be satisfied, so there are no assurances that the acquisitions will be consummated.

Ben Butcher, Chief Executive Officer and President of STAG, commented, “We are very excited to enter into this relationship with CRAG and its very experienced principals. We believe that their long standing presence in sourcing newly created sale leaseback transactions will expand this distribution channel for us and materially enhance our executions in this area.”

About STAG Industrial, Inc.

STAG Industrial, Inc. is a fully integrated, full-service real estate company focused on the acquisition, ownership and management of single-tenant industrial properties throughout the United States. STAG’s portfolio consists of 112 properties in 29 states with approximately 19.4 million rentable square feet.

About Columbus Nova Real Estate Acquisition Group, Inc.

Columbus Nova Real Estate Acquisition Group, Inc. is a real estate investor, advisor and portfolio manager focused on the sale leaseback sector. CRAG currently owns and manages 3.5 million rentable square feet of industrial real estate and approximately $55 million in commercial mortgages for third parties. CRAG is part of Columbus Nova, a multi-strategy fund manager with over $2 billion in real estate, private equity and fixed income investments.

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Post Written By: Ed Liston Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.