Along with the class A office building, theW.P. Grace affiliate also bought the 15-acre site inEagan, which has access to Interstate 35-E, a majorartery into St. Paul. Under the terms of thesale-leaseback transaction, the facility will beleased to Buffets Inc. under a 20-year, bond-type netlease.
The sale-leaseback transaction with BuffetsInc. was done as a part of the financing of themanagement buyout of Buffets, in which Caxton-IsemanCapital, a New York investment firm specializing inbuyouts, was the equity provider.
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