SFC Spirit Fin Corp

Spirit Finance Corporation (NYSE: SFC) (�Spirit�), a real estate investment trust focused on single tenant, operationally essential real estate, today announced that it completed a $200 million sale/leaseback transaction with affiliates of 84 Lumber Company, the nation�s leading privately held materials and services supplier to professional builders, on April 27, 2007. The acquisition was partially funded with a $150 million long-term fixed-rate mortgage note financed through Barclays Capital Real Estate Inc. and secured by the real estate assets acquired. Spirit purchased 53 wholesale/retail lumber sales and supply centers and one truss manufacturing plant. A subsidiary of 84 Lumber Company has agreed to lease the properties for an initial period of 20 years, subject to a master lease with a multi-windowed purchase option and multiple renewal options. Christopher H. Volk, President and CEO of Spirit Finance, commented, �We are very excited to add the 84 Lumber Company to our growing roster of tenants given their high quality financial and business profile. This transaction demonstrates once again our ability to use our efficient cost of capital to help owners of single tenant, operationally essential real estate optimize their capital efficiency.� Dan Wallach, Chief Financial Officer of 84 Lumber Company stated �We are pleased to commence a long-term real estate financing relationship with Spirit. This initial transaction serves to fund a stable organic growth strategy, and Spirit has provided us a follow-on commitment for future transactions. We chose Spirit after considering a number of alternatives, and are pleased with the flexible and tailored terms we and the Spirit team worked together to achieve.� About 84 Lumber Company Founded in 1956 by Joe Hardy in Eighty Four, Pa., 84 Lumber Company is the nation�s leading privately held building materials and services supplier to professional builders. 84 Lumber operates more than 475 locations, including 24 components manufacturing facilities. Through a dedicated team of 10,500 well-trained, knowledgeable associates nationwide, 84 Lumber provides professional contractors, remodelers and do-it-yourselfers with personal service second to none. For more information on 84 Lumber Company, please visit their web site at www.84lumber.com. About Spirit Finance Corporation Spirit Finance Corporation provides customized, flexible sale/leaseback financing solutions for single tenant, operationally essential real estate assets that are vital to the operations of retail, service and distribution companies. The company�s core markets include free-standing automotive dealers, parts and service facilities, drugstores, educational facilities, movie theaters, restaurants, supermarkets, and other retail, distribution and service businesses. Additional information about Spirit Finance Corporation is available on its website at www.spiritfinance.com.