Life Time Group announced that the company has entered into non-binding letters of intent for the sale-leaseback of two properties in transactions totaling approximately $78M with institutional real estate investors that have completed multiple sale-leaseback transactions with Life Time previously. The parties intend for the sale and leaseback of the first property to be completed by March 31 for approximately $33M in gross proceeds to Life Time. The sale and leaseback of the second property, which currently is under construction, is expected to be completed by September 30 for approximately $45M. Terms for both deals are consistent with the company’s past transactions.
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Published first on TheFly
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