Synaptics agrees to $58M sale-leaseback of San Jose properties; signs 12-year leaseback

SYNAPTICS Inc

Purchase price $58M for properties at 1109-1251 McKay Dr and 1140-1150 Ringwood Ct, San Jose.
Closing expected in Q3 fiscal 2022 (Feb 2022), subject to customary conditions.
Synaptics will lease back buildings at 1109 and 1151 McKay Dr for initial 12-year term, with option to extend 7 more years.
Net proceeds reduced by transaction commissions and expenses.
Transaction structured as sale-leaseback; buyer is S B C & D Co. d/b/a South Bay Development Company.

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