Staples Owner Sycamore Partners Has Become Its Landlord Too (1)

Sycamore Partners can add another $150 million to the amount it has extracted from the office supply giant Staples Inc. since taking it private in 2017.

After taking some $1.3 billion in dividends earlier this year, the private equity firm has gotten its hands on another of Staples’s assets: its 650,000-square-foot headquarters in the Boston suburbs.

In a private earnings release to its lenders June 10, Staples said it distributed its headquarters, valued at $150 million, to a Sycamore affiliate, according to a copy of the document seen by Bloomberg. The company entered into a 10-year agreement to lease ...