Craftmade Ceiling Fan

CRAFTMADE INT : Craftmade International Completes Sale-Leaseback Transaction

– Craftmade International, Inc. (OTCQX: CRFT) ("Craftmade"), a Delaware corporation,  today announced that on July 8, 2011, CM Real Estate, LLC, a Texas limited liability company and wholly-owned subsidiary ("Subsidiary") of Craftmade, closed a transaction whereby the Subsidiary sold its facility located at 650 S. Royal Lane, Coppell, Texas ("Facility"), which Craftmade previously had contributed to Subsidiary in exchange for its 100% interest in Subsidiary. Pursuant to a Contract of Sale ("Sale") with Huntington Industrial Partners LLC ("Huntington"), a Colorado company, Facility was sold for consideration of $15,214,500 received in cash. Craftmade believes that after taxes, transaction costs and prepayment penalty on the existing note secured by Facility, that it will retain net proceeds of approximately $12,800,000 which it will use to pay off debt, including the existing note secured by Facility and a portion of its operating line of credit with Bank of America. Craftmade has no pre-existing relationship with Huntington and considers this to be a fair market transaction being executed at pricing and terms in line with other comparable transactions in the marketplace. The initial lease period will expire on July 30, 2021. Other terms of the Lease are in line with normal and customary industrial leases, and Craftmade has no obligation beyond the initial term of the lease. There are no terms under which the base rent may be accelerated or increased, beyond the payments detailed above. The foregoing is a summary of the terms of the Sale and Lease and does not purport to be complete. Various statements in this Press Release or incorporated by reference herein, in future filings with the SEC or OTCQX, in press releases, and in oral statements made by or with the approval of authorized personnel constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.

New Craftmade Ceiling Fans

The Craftmade Fredericksburg FB60OBG ceiling fan has an impressive and bold design with a UL Damp rating for covered outdoor uses. This fan features a oil-bronze/guilded finish with custom walnut blades along with a lantern styled light fixture. Craftmade Fredericksburg ceiling fans provide exceptional air movement and unique styling to any covered environment. Craftmade’s new 2011 ceiling fan collection offers a wide variety of fans that will transform your home and complement any home design style . Del Mar Designs offers all the new Craftmade ceiling fans at great discounted prices. Save up to 42% Off  list prices plus free shipping today by ordering online or by calling 1-800-724-5501 and speaking to one of their specialist.

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International directory of company histories

Although Ridings and Ivins founded Craftmade as a distributor and marketer of furniture and hardware and plumbing supplies as well as ceiling fans, ...

Standard and Poor's register of corporations, directors and executives

The design features included in Craftmade ceiling fans make the line one of the most reliable, durable, effective and energy ...

The value line investment survey

Its Craftmade International, Inc. unit provides home furnishings, including ceiling fans, light kits, bathstrip lighting, outdoor lighting, lamps, ...

Forbes

12 TO WATCH CRAFTMADE CODDLING CUSTOMERS Staying Cool How do you make a good buck selling ceiling fans? By taking good care of your retailers. ...

Nelson Information's directory of investment research

Craftmade is engaged in the design, distribution and marketing of ceiling fans, light kits, outdoor lighting, bath-strip lighting and related accessories. ...