SOURCE: Advanced Micro Devices

Advanced Micro Devices

March 26, 2013 16:00 ET

AMD Closes Transaction to Sell and Lease-Back Austin Campus, Generating Approximately $164 Million in Cash

SUNNYVALE, CA and AUSTIN, TX--(Marketwire - Mar 26, 2013) - AMD (NYSE: AMD) today announced the successful closing of its transaction 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 transaction generated proceeds of approximately $164 million in cash, net of all fees, which will be reflected in the company's first quarter 2013 financial statements when reported on Apr. 18, 2013. 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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