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Capital Lease Prices Offering

The commercial REIT raises $35 million by selling preferred stock.

Capital Lease Funding (LSE) priced a $35 million preferred stock offering.

The New York-based commercial real estate investment trust said it sold the public 1.4 million series A cumulative redeemable preferred shares for $25 each. The shares pay 8.125% and are expected to list on the

New York Stock Exchange

under the symbol LSEPrA.

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The transaction is expected to close next Wednesday through Wachovia Securities, the sole bookrunning and joint-lead manager, Friedman Billings Ramsey, the joint lead manager, and A.G. Edwards and RBC Capital Markets, the co-managers.

On Friday, Capital Lease rose 6 cents to $9.86.