CapLease, Inc. is a real estate investment trust (REIT) that primarily owns and manages single tenant commercial real estate properties subject to long-term leases to high credit tenants. The Company focuses on properties that are subject to a net lease, or a lease that requires the tenant to pay all property operating expenses, such as utilities, real estate taxes, insurance and routine maintenance. It operates in two segments: operating real estate (including its investments in owned real properties) and debt investments. It has modest portfolio of first mortgage loans and other debt investments. In June 2012, it purchased approximately 175,000 square foot Class A office building located in The Woodlands in Houston, Texas. In July 2012, it sold Johnston, Rhode Island property. In December 2012, the Company purchased an approximately 145,000 square foot Class A office building and acquired two adjacent single tenant office properties. In December 2012, it acquired office building.