The McClatchy Company has completed the sale and leaseback
of its Kansas City Star headquarters to Ambassador Hospitality, according to
McClatchy. The glass building was sold for $30.1 million and leased back for 15
years with initial annual lease payments of $2.8 million. The company
previously disclosed that it had completed the sale of a distribution center in
Miami , Florida
The company expects to use the approximately
$32 million of net proceeds from the real property sales to perform a partial
redemption of its 2026 Notes at par as required under its 2026 notes indenture,
the company says.
McClatchy operates 30 media companies in 14
states.
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