Oct 9 (Reuters) - STAG Industrial Inc :
* Announces the acquisition of a $129 million portfolio of industrial buildings
* Source text
To acquire a portfolio of 31 primarily single tenant industrial buildings for approximately $129 million. This portfolio acquisition brings STAG's total 2012 acquisition volume to approximately $343 million.
The portfolio, which consists primarily of warehouse and distribution facilities, is 91% leased to 29 different tenants and was purchased at a 9%
plus cap rate. The buildings are located in 10 different states and represents approximately 4.3 million square feet. With the addition of this portfolio, the Company's total square footage has increased by 63% since the end of 2011. "This transaction demonstrates our ability to significantly grow our asset base through a portfolio purchase while still achieving attractive return parameters", remarked Ben Butcher, CEO of STAG.
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