CapLease, Inc. is a diversified real estate investment trust, which invests primarily in single tenant commercial real estate assets subject to long-term leases to high credit quality tenants. It focuses on properties that are subject to a net lease, or a lease that requires the tenant to pay all or substantially all property operating expenses, such as utilities, real estate taxes, insurance and routine maintenance. The company provides owners of single tenant real estate with a full range of equity, debt and mezzanine financing options. It has two complimentary business lines: owning single tenant properties and making first mortgage loans and other debt investments on single tenant properties. The company was founded by Paul H. McDowell, Shawn P. Seale and William R. Pollert in 1994 and is headquartered in New York, NY.