Club Insider

Life Time Closes on $40 Million Sale-Leaseback Transaction

Posted: May 29, 2024 in Chains

Life Time  - The Healthy Way Of Life CompanyLife Time – The Healthy Way Of Life Company

CHANHASSEN, MN – Life Time Group Holdings, Inc. (“Life Time” or the “Company”) (NYSE: LTH) announces that it closed on a sale-leaseback transaction for approximately $40 million in gross proceeds. The transaction involved one property with an institutional real estate investor that owns another Life Time destination. The transaction terms were not disclosed.

Sale-leaseback proceeds will be used by the Company to support growth and strengthen its balance sheet. Life Time will continue to evaluate the sale-leaseback market for additional opportunities moving forward.

“As we have communicated previously, we look at sale-leaseback transactions opportunistically in support of our future growth opportunities and commitment to further strengthen our balance sheet,” said Life Time Founder, Chairman, and CEO, Bahram Akradi. “We have tremendous relationships with our partners and are grateful for their ongoing interest in our real estate portfolio. We are very pleased to complete this sale-leaseback on terms and conditions that are very similar to recent transactions.”

Back to News

MOSSA