{"id":8953,"date":"2023-03-02T00:00:57","date_gmt":"2023-03-02T05:00:57","guid":{"rendered":"http:\/\/www.clubinsideronline.com\/news\/?p=8953"},"modified":"2023-03-07T14:12:07","modified_gmt":"2023-03-07T19:12:07","slug":"life-time-signs-new-sale-leaseback-letter-of-intent-for-45-million-adding-to-previously-announced-sale-leaseback-transactions-of-78-million","status":"publish","type":"post","link":"http:\/\/www.clubinsideronline.com\/news\/chains\/life-time-signs-new-sale-leaseback-letter-of-intent-for-45-million-adding-to-previously-announced-sale-leaseback-transactions-of-78-million\/","title":{"rendered":"Life Time Signs New Sale-Leaseback Letter of Intent for $45 Million, Adding to Previously Announced Sale-Leaseback Transactions of $78 Million"},"content":{"rendered":"<p><img decoding=\"async\" loading=\"lazy\" src=\"http:\/\/www.clubinsideronline.com\/news\/wp-content\/uploads\/Life-Time-300x90.png\" alt=\"Life Time  - The Healthy Way Of Life Company\" width=\"300\" height=\"90\" class=\"alignnone size-medium wp-image-102\" srcset=\"http:\/\/www.clubinsideronline.com\/news\/wp-content\/uploads\/Life-Time-300x90.png 300w, http:\/\/www.clubinsideronline.com\/news\/wp-content\/uploads\/Life-Time-200x60.png 200w, http:\/\/www.clubinsideronline.com\/news\/wp-content\/uploads\/Life-Time.png 677w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/>Life Time  &#8211; The Healthy Way Of Life Company<\/p>\n<p><strong>CHANHASSEN, MN<\/strong> &#8211; Life Time Group Holdings, Inc. (&#8220;Life Time&#8221; or the &#8220;Company&#8221;) (NYSE: LTH) announces that the company has entered into a non-binding letter of intent for the sale-leaseback of one property in a transaction totaling approximately $45 million in gross proceeds. The proposed transaction is with an institutional real estate investor that has completed multiple sale-leaseback transactions with Life Time previously. The parties intend for the sale and leaseback of the property to be completed in May 2023. Terms are consistent with the company&#8217;s past transactions.<\/p>\n<p>As announced on January 31, 2023, the Company signed letters of intent for the sale-leaseback of two properties in transactions totaling approximately $78 million. Life Time has closed on the first transaction for $33 Million in gross proceeds, effective March 1, 2023. The transaction for the second property, which currently is under construction, is expected to be completed by September 30, 2023, for approximately $45 million.<\/p>\n<p>The Company is well positioned and remains on track to complete $300 million in sale-leaseback transactions in 2023. Sale-leaseback transaction proceeds will be used by the Company to support new growth opportunities and strengthen its balance sheet.<\/p>\n","protected":false},"excerpt":{"rendered":"<p><strong>CHANHASSEN, MN<\/strong> &#8211; Life Time Group Holdings, Inc. (&#8220;Life Time&#8221; or the &#8220;Company&#8221;) (NYSE: LTH) announces that the company has entered into a non-binding letter of intent for the sale-leaseback of one property in a transaction totaling approximately $45 million in gross proceeds. The proposed transaction is with an institutional real estate investor that has completed multiple sale-leaseback transactions with Life Time previously. The parties intend for the sale and leaseback of the property to be completed in May 2023. Terms are consistent with the company&#8217;s past 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\/8953"}],"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=8953"}],"version-history":[{"count":1,"href":"http:\/\/www.clubinsideronline.com\/news\/wp-json\/wp\/v2\/posts\/8953\/revisions"}],"predecessor-version":[{"id":8954,"href":"http:\/\/www.clubinsideronline.com\/news\/wp-json\/wp\/v2\/posts\/8953\/revisions\/8954"}],"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=8953"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.clubinsideronline.com\/news\/wp-json\/wp\/v2\/categories?post=8953"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.clubinsideronline.com\/news\/wp-json\/wp\/v2\/tags?post=8953"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}