Health Net 2006 Annual Report Download - page 150
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HEALTH NET, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Sale/Leaseback of Shelton, Connecticut Property
On February 23, 2007, we entered into an agreement providing for a sale/leaseback of the company’s
68-acre commercial campus in Shelton, Connecticut (the “Shelton Property”). Under the terms of the agreement,
Health Net will sell the Shelton Property to The Dacourt Group, Inc. (“Dacourt”) for approximately $90 million
(subject to adjustment based on the terms of the agreement) and Health Net will lease the Shelton Property back
from Dacourt under a ten-year lease. The transaction is currently expected to close during the first quarter of
2007, subject to customary closing conditions.
F-56