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AMD Closes Deal To Sell And Lease-Back Austin Campus

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3/26/2013 4:12 PM ET

Advanced Micro Devices, Inc. (AMD: Quote) said Tuesday that it has closed its deal with 7171 Southwest Parkway Holdings, LP to sell and lease-back the company's "Lone Star Campus" located at 7171 Southwest Parkway in Austin, Texas.

The deal, which was originally announced earlier this month, generated proceeds of about $164 million in cash, net of all fees, which will be reflected in the company's first quarter 2013 financial statements when reported on April 18.

As a part of the agreement, AMD has entered into a 12-year sublease agreement with Lantana HP, Ltd. with an extension option to continue its operations on the Lone Star Campus.

7171 Southwest Parkway Holdings, LP is an affiliate entity of real estate investment company Spear Street Capital. Lantana HP, Ltd. is an affiliate entity of HPI Real Estate Services and Investments.

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by RTT Staff Writer

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