acquired aprivate preparatory school campus and agreed to acquire two additional schoolcampuses under sale-and-leaseback transactions with Nord Anglia Education Inc.
Thecompany said April 4 that the transaction value for all the three properties isexpected to total approximately $167 million.
Thecompany also agreed to provide up to an additional $128 million ofbuild-to-suit financing to fund expansion of the existing facilities over thenext four years.
Theacquired property is located in Windermere, Fla., while the other two assetsare in Coconut Creek, Fla., and Houston. The three properties together comprise50 buildings encompassing 591,874 square feet across 131 acres. Theto-be-acquired properties are expected to be handed over by the end of thesecond quarter.
Thecompany said the financing and the agreement to acquire the two additionalassets are subject to various closing conditions. Nord Anglia Education is aglobal operator of schools.