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 (including its loan investments, as well as its investments in securities). In addition to its portfolio of owned properties, the Company has modest portfolio of first mortgage loans and other debt investments on single tenant properties. It has classified three propertie as multi-tenant properties. The other two properties are located in Omaha, Nebraska. In November 2013, American Realty Capital Properties, Inc acquired CapLease, Inc.