This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Free-Standing REITs: Separating the Best from the Rest

NEW YORK ( TheStreet) -- Boston-based STAG Industrial (STAG - Get Report) announced this week the acquisition of a portfolio of 31 primarily single tenant industrial buildings for approximately $129 million. This portfolio increases STAG's total 2012 acquisition volume to about $343 million.

The portfolio, primarily warehouse and distribution facilities, is 91% leased to 29 different tenants and was purchased at a 9% plus cap rate. The buildings are in 10 different states and represent approximately 4.3 million square feet. With the addition of this portfolio, STAG's total square footage has increased by 63% since the end of 2011.

Less than 30 days later STAG announced (8-K filed Sept. 10) that it struck an agreement with Bank of America (BAC) and other lenders for a senior unsecured revolving credit facility of up to $200 million (with an accordion of up to $300 million).

In addition, on Aug. 15 STAG closed its underwritten public offering of 9.2 million common shares. The company said that it intended to use the net proceeds to fund a portion of the anticipated $138.8 million purchase price of the STAG Investments II LLC portfolio or other acquisitions currently under contract; to repay indebtedness outstanding under its secured corporate revolving credit facility; to repay indebtedness outstanding under its Wells Fargo (WFC) master loan; for general working capital purposes, or a combination of the above.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
LSE $0.00 0.00%
ARCP $8.32 0.48%
O $49.45 -0.54%
STAG $20.25 0.05%
AAPL $118.88 0.96%


Chart of I:DJI
DOW 17,812.19 +19.51 0.11%
S&P 500 2,089.14 +2.55 0.12%
NASDAQ 5,102.8080 +0.33 0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs