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BANKING AND CREDIT NEWS-March 27, 2019--Valley National Bancorp closes sale leaseback transaction
Global Banking News-March 27, 2019--Valley National Bancorp closes sale leaseback transaction
31 May 2017 - US-based real estate investment trust Broadstone Net Lease, Inc has closed a sale leaseback acquisition of a portfolio of 25 Bob Evans Restaurant locations in eight states, for a total purchase price of approximately USD 48.9m, the company said.
(NYSE: GPT) has closed on a 20-year sale leaseback transaction with Life Time Fitness Inc.
Birmingham, AL, January 05, 2015 --( STREAM Capital Partners ("STREAM"), a boutique net lease and sale leaseback advisory group, recently advised the seller, a family office, on the sale of a portfolio of 18 KFC properties.
A sale leaseback transaction occurs when a company sells real estate that it currently owns to a third-party and simultaneously enters into a lease to continue to occupy the property.
From the buyer's perspective, a sale leaseback can be an attractive investment in the real estate category as it requires less maintenance and administration than many multi-tenant real estate investments.
last week closed their sale leaseback agreement, made in principle in February of this year, for AG's 55.27-acre Seattle headquarters and distribution facility.
Mullen: Sale-manageback developed partly as a result of REITs, which are forced to do a sale leaseback because of REIT requirements, pulling out of the market, and partly because public longterm care companies saw sale-manageback as a way of improving their stock values by getting their real estate properties off their books.
Slovin, Sushka, and Polonchek (1990) discuss the theoretical valuation effect of leasing and find empirical evidence that announcements of sale leaseback transactions are associated with positive abnormal returns to the lessee equityholders.
The property was acquired all-cash in a sale leaseback transaction for a purchase price of approximately USD 27.5m.