State Farm Undertakes $750 Million in Sale/Leasebacks

Source:  CoStar

The State Farm Mutual Automobile Insurance Co. continues its sell off of owned real estate. The insurance company disclosed in its third quarter report to insurance regulators that it sold 24 of its facilities this month and will lease the properties back from the buyer for terms of between five to 15 years at a total lease cost of $750.1 million. While State Farm did not disclose the buyers or addresses, Lone Star Funds is the known buyer of 23...

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