Sixth Street and Madison Capital Partner with Seagate Technology on $260 Million Sale-Leaseback Transaction

Fremont, CA – June 6, 2023 – Sixth Street, a leading global investment firm, and Madison Capital, a leading national real estate firm, today announced the closing of a $260 million sale-leaseback transaction with an affiliate of Seagate Technology Holdings plc (NASDAQ: STX) (“Seagate” or the “Company”).

The sale enables Seagate to realize the value of its 31-acre, 574,775 square foot headquarters and research and development facility located at 47488 Kato Road in Fremont, CA (the “Property”). Approximately 800 Seagate employees operate at the Property, including several hundred PhDs, engineers and research professionals. Concurrent with closing of the transaction, Seagate entered into a triple net lease agreement with affiliates of Sixth Street and Madison Capital that provides for a 10-year minimum lease term. Seagate has the ability to exercise extension options which would provide for a total of 20 years of tenancy.

Cresa and Cushman & Wakefield represented Seagate on the sale of the Property.

About Seagate

Seagate Technology crafts the sustainable datasphere, helping to maximize humanity’s potential by innovating world-class, precision-engineered mass-data storage and management solutions with a focus on deep-rooted partnerships. A global technology leader for nearly 45 years, the company has shipped over four billion terabytes of data capacity.

About Sixth Street

Sixth Street is a global investment firm with approximately $65 billion in assets under management and committed capital. Sixth Street uses its long-term flexible capital, data-enabled capabilities, and One Team culture to develop themes and offer solutions to companies across all stages of growth. Sixth Street Real Estate invests in properties and provides flexible financing solutions across the full range of real estate asset classes. Founded in 2009, Sixth Street has more than 500 team members operating around the world. For more information, visit www.sixthstreet.com, or follow Sixth Street on LinkedIn, Twitter, and Instagram.

About Madison Capital

Madison Capital is a leading real estate investment and operating company focused on creating exceptional opportunities in innovation markets. Since its inception in 2002 and currently with over $3.2 billion in assets under management, Madison invests with an institutional perspective and entrepreneurial execution. Led by data analytics and sound fundamentals, Madison targets opportunistic and income-producing investments in New York, San Francisco, Chicago and other innovation markets. For more information, please visit the firm’s website at mcapny.com.