CRIC CAPITAL CLOSES $6 MILLION NET LEASE WITH BAYER CORPORATION FOR A TO-BE-BUILT WAREHOUSE FACILITY IN BAYTOWN, TEXAS

Leading Net Lease Company Funds Acquisition and Construction Costs For Bayer AG Subsidiary

CRIC Capital, LLC, one of the nation’s leading investors in net leased and other credit real estate, has entered into a $6 million net lease with Bayer Corporation, a subsidiary of Germany-based Bayer AG.  CRIC Capital will finance the acquisition and construction of a 175,000 square foot warehouse/distribution facility in Baytown, Texas.  Under the terms of the net lease transaction, CRIC Capital will finance the construction, and lease the property to Bayer Corporation under a 22-year bond, net lease.

The $6 million deal is the latest in CRIC Capital's program to acquire more than $500 million of single-tenant properties across the U.S.

Bayer Corporation produces a broad range of health care, agricultural, polymer and chemical products that help diagnose and treat diseases, purify water, preserve local landmarks, protect crops, advance automobile safety and durability and improve people's lives.  Bayer Corporation is an A+ rated corporation by Standard & Poor's.  Best known for its flagship product, Bayer Aspirin, the company's other well-known brands include Alka-Seltzer heartburn and cold remedies and One-A-Day vitamins.

Headquartered in Pittsburgh, Bayer Corporation's sales reached $10.1 billion in 2001 landing the company on Fortune magazine's list of Most Admired Companies.  The company employs 21,500 people.  Bayer Corporation is a subsidiary of the worldwide Bayer Group, a $27 billion international health care and chemicals group based in Leverkusen, Germany (NYSE: BAY).

CRIC Capital, LLC combines the pioneering net leasing professionals of Boston-based Corporate Realty Investment Company L.L.C. with Prudential Real Estate Investors, the real estate investment and advisory business of Prudential Financial.  CRIC Capital purchases real estate from and leases it back to investment grade and select below-investment grade companies through a variety of customized net leases.  Net lease transactions allow corporations and organizations to strengthen their financial positions and free up capital to reinvest in their core business.

Contact:
Victoria Nessen Kohlasch
CRIC Capital, LLC
617-388-9862
vkohlasch@criccapital.com