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Molina announces $158M sale, lease back transaction for corporate office

Molina Healthcare announced that, through its wholly owned subsidiary, Molina Center, it has successfully completed a sale and lease back transaction with the dedicated net lease group of Angelo, Gordon & Co for $158M. Under the terms of this transaction, Molina Healthcare has sold to AG its principal executive offices in Long Beach, California, as well as an office building in Columbus, Ohio, that houses the principal health plan operations of Molina’s wholly owned subsidiary, Molina Healthcare of Ohio. As a part of the agreement, Molina Healthcare has entered into long-term leases for both real properties under which AG will be the landlord and Molina will be the tenant.