CarePay Inc. (SOFE)

[bliz82]

For those that haven't followed this closely, we could have purchased the terminal for the same deal but since we didn't have the money, Adino assigned their rights under the lease to Lone Star and they purchased the terminal back last fall. We now lease from them for 30K/month (increasing 3% each year) with an option to buy the terminal for $7.75 through 10/1/2009 and then a million more for each of the final 4 years. The terminal was appraised at over $14M last fall.

Lone Star Fuel Storage and Transfer
purchased the 60,000-sq. ft. warehouse
located at 17617 Aldine Westfield (North)
from David J. Zehr for $3.6 million or $59
per sq. ft.

http://www.colliers.com/Content/Repositories/Base/Markets/Houston/English/Market_Report/PDFs/2008_4Q_Houston_Industrial_Market_Report.pdf

http://sec.gov/Archives/edgar/data/700815/000113717108001045/adino10q111408.htm