Life Time Closes on $175 Million in Sale-Leaseback Transactions Year To Date
Posted: May 16, 2022 in Chains
Life Time – The Healthy Way Of Life Company
CHANHASSEN, MN – Life Time Group Holdings, Inc. (“Life Time” or the “Company”) (NYSE: LTH) announces it has now closed on sale-leaseback transactions involving four of its owned properties totaling $175 million.
The sale and leaseback of the first two properties was completed on March 31, 2022, for approximately $80 million in gross proceeds to Life Time. The sale and leaseback of the two additional properties closed on May 13, 2022, for approximately $95 million in gross proceeds.
The proceeds will be used by the Company to strengthen its balance sheet and fund new growth opportunities. Additional details were not disclosed.
As announced with its first quarter fiscal 2022 results on May 11, 2022, the Company also is evaluating opportunities to monetize up to an additional $500 million in real estate prior to September 30, 2022.
