Amgen Sells Deerfield Campus for $151M in Leaseback Deal
Amgen Inc., the biotechnology company, has sold its Deerfield campus in Illinois for $151 million. The buyer is an entity tied to Mesirow, a financial services firm based in Chicago.
The sale and leaseback deal allows Amgen to raise cash without issuing new shares or taking on more debt, which is particularly important given the company's massive debt load of around $57 billion. To put this into perspective, $151 million represents only about 0.26% of Amgen's total debt.
The leaseback agreement means that Amgen will continue to occupy one of the three buildings on the campus, which spans roughly 660,000 square feet. This arrangement is a common practice in corporate finance, where companies sell off non-essential assets and then lease them back to maintain business continuity.