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.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on LTH:
- Life Time Group management to meet with Oppenheimer
- Life Time Group price target raised to $21 from $17 at Guggenheim
- Life Time Group invests $800,000 into squash complex
- Life Time Group price target raised to $17 from $15 at Guggenheim
- Life Time Group sees FY23 revenue $2.2B-$2.3B, consensus $2.24B
