UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): November 8, 2012
STAG INDUSTRIAL, INC.
(Exact name of registrant specified in its charter)
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Maryland |
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1-34907 |
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27-3099608 |
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(State or Other Jurisdiction |
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(Commission |
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(IRS Employer |
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Of Incorporation) |
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File Number) |
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Identification No.) |
99 High Street, 28th Floor
Boston, Massachusetts 02110
(Address of principal executive offices, zip code)
Registrant’s telephone number, including area code: (617) 574-4777
Not applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 Entry into a Material Definitive Agreement.
On November 8, 2012, STAG Industrial, Inc., a Maryland corporation (the “Company”), through certain of its subsidiaries, entered into a loan agreement with Wells Fargo Bank, National Association (the “Loan Agreement”). The Loan Agreement provides for a secured loan in the original principal amount of approximately $68.8 million (the “Loan”). Unless otherwise terminated pursuant to the terms of the Loan Agreement, the Loan will mature on December 1, 2022. Borrowings under the Loan will bear interest at a fixed rate of 4.31%. The Loan is secured by first mortgages on 28 properties located in eight states and has a loan-to-cost ratio of 60.0%. The Company’s operating partnership, STAG Industrial Operating Partnership, L.P., a Delaware limited partnership, guarantees certain limited obligations under the Loan. Wells Fargo Bank, National Association has the right to securitize any portion or all of the Loan in a single asset securitization or a pooled loan securitization.
The foregoing description of the Loan Agreement does not purport to be complete and is qualified in its entirety by reference to the Loan Agreement, a copy of which has been filed as Exhibit 10.1 to this report and is incorporated in this Item 1.01 by reference.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth under Item 1.01 of this report is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
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Exhibit |
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Description |
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10.1 |
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Loan Agreement, dated as of November 8, 2012, by and among Borrowers (as defined therein) and Wells Fargo Bank, National Association, as Lender. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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STAG INDUSTRIAL, INC. | |
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By: |
/s/ Kathryn Arnone |
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Kathryn Arnone |
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Executive Vice President, General Counsel and Secretary |
Dated: November 13, 2012