LAKE COMO, NJ—Four Springs Capital Trust acquired more than $34 million of single tenant net lease assets in September. The properties include a 226,756 square foot industrial asset in Lebanon, IN, net leased to Gander Mountain Company; the retail assets include 71,000 square foot Academy Sports stores in Mt. Juliet, TN and Jonesboro, AR, and two 9,026 square foot Dollar Generals located in Yulee and Middleburg, FL. The properties are all subject to long-term triple net leases.

DEVELOPMENT

SECAUCUS,NJ—The Meadowlands might be attractive to Las Vegas casino impresario Sheldon Adelson. The billionaire casino owner gave a keynote address and answered a moderator's questions at the American Gaming Association's G2E 2014 Conference last week.

In a video released by the conference organizers on YouTube, the entrepreneur seemed surprised when the moderator told him about news reports from a New Jersey development conference where Adelson had been identified as someone who could be successful running a Meadowlands casino. The moderator asked Adelson if he was interested in New Jersey.

“Yes,” Adelson said simply. After a long pause, he quipped, “Do I have to explain that?”

Adelson said it would depend on the regulatory and political environment whether such an investment would make sense.

“It would be a very attractive place to build,” he said. “It would be a double-edged sword, because you could invest a lot of money and wake up and find Gov. Cuomo or the mayor of New York saying, look, that casino in the Meadowlands is just sucking money out of New Yorkers' pockets, let's just open up New York [to casino gambling].”

FINANCE

PARAMUS, NJ—Vornado Realty Trust says the Vornado Realty operating partnership through which Vornado Realty Trust conducts its business, has extended one of its two $1.25 billion unsecured revolving credit facilities from November 2015 to November 2018 with two 6-month extension options. The interest rate on the extended facility was lowered from LIBOR plus 125 basis points to LIBOR plus 105 basis points and the facility fee was reduced from 25 to 20 points. Vornado's second revolving credit facility of $1.25 billion matures in June 2017 with two 6-month extension options. The lead arrangers and bookrunners for the facility are J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated.

EXECUTIVE APPOINTMENTS

CHERRY HILL, NJ–Amar A. Agrawal, an attorney who represents lenders and financial institutions, has been named a partner at Eisenberg, Gold & Cettei, P.C., a law firm specializing in civil and commercial litigation, real estate, creditor's rights, condominium and community association law. The firm has changed its name to Eisenberg, Gold, Cettei & Agrawal PC.

“Since joining our firm just this past February, Amar has proven himself to be a highly skilled and competent attorney, with great business sense to boot, so it was inevitable we'd be putting his name on the masthead,” says Janet L. Gold. “As Eisenberg, Gold, Cettei & Agrawal, we look forward to significant growth while continuing to give our current clients the service for which we've become known.”

Agrawal, who is fluent in Hindi and Gujarati, represents numerous lending and financing institutions in a variety of transactions, and assists business owners in corporate formation and documentation. In 2013, he was named a “Top Attorney” and an “Awesome Attorney” by two regional magazines.