Fischer & Company - Corporate Real Estate Solutions

Raleigh, North Carolina $135 Million Sale-Leaseback of Two Properties for Nortel Networks

On Friday, July 27, 2001, Fischer & Company completed a sale-leaseback transaction of two properties located in Raleigh, North Carolina, on behalf of Nortel Networks Inc. This transaction, which yielded $135 million in proceeds, was completed in spite of the announcements delivered by Nortel of their impending $14.9 billion loss in Q2-2001.

Fischer & Company aligned the objectives of Nortel Networks Real Estate and Treasury with the demanding constraints of a transaction rated by both S&P and Moody's. Nortel Networks intends to use these two properties for long-term use, a period of fifteen years.

The Raleigh properties, which contain approximately 1.4 million square feet of office, R&D and manufacturing space, were sold on a NNN Bondable lease structure to Zurich Structured Finance in New York, New York. Zurich Structured Finance was selected through a competitive bid process over the course of a sixty-day period.

This transaction allowed Nortel Networks to raise capital from their real estate assets to be utilized in their core business opportunities.

About Fischer & Company
Founded in 1985, Fischer & Company is a leading corporate real estate firm with expertise in consulting, brokerage and technology solutions. We act as strategic advisors to our clients, offering unique transaction methodologies as well as a proprietary technological platform. The integration of these services enables our clients to aggressively reduce real estate costs and maximize operational efficiencies. Services include portfolio management, strategic planning, acquisitions, dispositions, transaction and construction management, capital markets and sale-leasebacks. At Fischer, we focus on tenant representation, only advising and working with corporate real estate users. We never advise landlords and avoid any conflict of interest.

For more information call 972.980.6110.