![\"Life](\"http:\/\/www.clubinsideronline.com\/news\/wp-content\/uploads\/Life-Time-300x90.png\")
Life Time – The Healthy Way Of Life Company<\/p>\nLife Time – The Healthy Way Of Life Company<\/p>\n
CHANHASSEN, MN<\/strong> – Life Time Group Holdings, Inc. (“Life Time” or the “Company”) (NYSE: LTH) announces it closed on a sale-leaseback transaction for two properties totaling $90 million in gross proceeds. This transaction brings the Company’s total gross proceeds from sale-leasebacks to $130 million year-to-date. The Company is also in negotiations for additional sale-leasebacks with expected gross proceeds of $40 – $65 million, which it expects to close by the end of the third quarter. Terms are similar to recent transactions.<\/p>\n The majority of the proceeds from this transaction will be used to reduce debt and accelerate the timing for the Company to achieve its priority of a net debt-to-Adjusted EBITDA leverage ratio under 3 times. The continued strong financial performance of the Company’s business will be more than sufficient to cover the incremental rent expense from these transactions.<\/p>\n “We are excited that we are on track to deliver positive free cash flow in the second quarter even without the proceeds from these sale-leasebacks,” said Life Time Founder, Chairman, and CEO, Bahram Akradi. “These sale-leaseback transactions will additionally support the great progress we are making towards reducing our net debt-to-Adjusted EBITDA leverage ratio to under 3 times sooner than expected, and we are confident that we will grow our revenue and Adjusted EBITDA by low double digits while continuing to deliver positive free cash flow.”<\/p>\n","protected":false},"excerpt":{"rendered":" CHANHASSEN, MN<\/strong> – Life Time Group Holdings, Inc. (“Life Time” or the “Company”) (NYSE: LTH) announces it closed on a sale-leaseback transaction for two properties totaling $90 million in gross proceeds. This transaction brings the Company’s total gross proceeds from sale-leasebacks to $130 million year-to-date. The Company is also in negotiations for additional sale-leasebacks with expected gross proceeds of $40 – $65 million, which it expects to close by the end of the third quarter. Terms are similar to recent transactions.<\/p>\n","protected":false},"author":1,"featured_media":102,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[15],"_links":{"self":[{"href":"http:\/\/www.clubinsideronline.com\/news\/wp-json\/wp\/v2\/posts\/10347"}],"collection":[{"href":"http:\/\/www.clubinsideronline.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.clubinsideronline.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.clubinsideronline.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.clubinsideronline.com\/news\/wp-json\/wp\/v2\/comments?post=10347"}],"version-history":[{"count":1,"href":"http:\/\/www.clubinsideronline.com\/news\/wp-json\/wp\/v2\/posts\/10347\/revisions"}],"predecessor-version":[{"id":10348,"href":"http:\/\/www.clubinsideronline.com\/news\/wp-json\/wp\/v2\/posts\/10347\/revisions\/10348"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.clubinsideronline.com\/news\/wp-json\/wp\/v2\/media\/102"}],"wp:attachment":[{"href":"http:\/\/www.clubinsideronline.com\/news\/wp-json\/wp\/v2\/media?parent=10347"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.clubinsideronline.com\/news\/wp-json\/wp\/v2\/categories?post=10347"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.clubinsideronline.com\/news\/wp-json\/wp\/v2\/tags?post=10347"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}