Leaseback

PDL Community Bancorp Announces that PFS Service Corp. entered into a Contract of Sale of Real Property

Retrieved on: 
Thursday, December 31, 2020
Contract law, Leaseback, Leasing, Sales, Economy, Articles

NEW YORK, Dec. 31, 2020 (GLOBE NEWSWIRE) -- On December 22, 2020, PDL Community Bancorp (the Company), through PFS Service Corp. (PFS), the service company of its subsidiary Ponce Bank (the Bank), entered into a contract of sale and leaseback of the real property that PFS owns located at 3821 Bergenline Avenue, Union City, New Jersey (the Real Property).

Key Points: 
  • NEW YORK, Dec. 31, 2020 (GLOBE NEWSWIRE) -- On December 22, 2020, PDL Community Bancorp (the Company), through PFS Service Corp. (PFS), the service company of its subsidiary Ponce Bank (the Bank), entered into a contract of sale and leaseback of the real property that PFS owns located at 3821 Bergenline Avenue, Union City, New Jersey (the Real Property).
  • The purchase price for the Real Property is $2.4 million.PFS carrying value of the Real Property as of December 22, 2020 was $512,000.
  • It is anticipated that there will be additional expenses incurred during the closing of the transaction.
  • In the leaseback transaction, the Bank will lease back the Real Property for an initial term of 15 years and will have four optional terms of five years each.

Gaming and Leisure Properties, Inc. Announces Sale and Lease Transactions

Retrieved on: 
Tuesday, December 15, 2020
Leasing, Penn National Gaming, Finance, Leaseback, GLPi, Gambling in the United States, Companies, Hollywood Casino at Penn National Race Course, Gaming and Leisure Properties

The lease will have an initial term of 15 years with four 5-year extensions.

Key Points: 
  • The lease will have an initial term of 15 years with four 5-year extensions.
  • The lease will have an initial term of 15 years with four 5-year extensions.
  • In conjunction with the transaction, GLPI will also have a right of first refusal with Casino Queen for other sale leaseback transactions up to $50 million over the next 2 years.
  • Penn National Gaming is the nation's largest and most diversified regional gaming operator with 41 properties across 19 states (including the Perryville property).

Knock Introduces Knock Nest™, a New Way for Homeowners to Unlock the Equity in Their Home Without Moving

Retrieved on: 
Wednesday, December 9, 2020
Finance, Money, Financial markets, Leasing, Contract law, Leaseback, Sales, Equity

With Knock Nest, homeowners can request a no-obligation competitive cash offer from Knock to buy their home that includes a long-term lease and repurchase option.

Key Points: 
  • With Knock Nest, homeowners can request a no-obligation competitive cash offer from Knock to buy their home that includes a long-term lease and repurchase option.
  • "For most people, their home is their single largest asset, and over 97% of homeowners1 have positive equity in their homes," said Knock Co-Founder & CEO Sean Black.
  • Knock Nest productizes the sale-leaseback as a stand-alone solution for homeowners who want to access their equity without moving out of their homes.
  • Knock Nestallows homeowners to tap into the equity in their homes to meet their financial obligations without having to move.

CDB Aviation Purchases and Leases Back Nine 737 MAX Aircraft to WestJet

Retrieved on: 
Wednesday, December 2, 2020
Air, Transport, Aerospace, Manufacturing, Transportation, Travel, Contract law, Articles, Finance, Money, Leasing, CDB, China Development Bank, WestJet, Leaseback, Lessor, WestJet, CDB Aviation

CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (CDB Leasing), announced today the company has completed the financing for eight of the nine Boeing 737 MAX 8 aircraft under the purchase and leaseback agreement with Calgary-based carrier WestJet.

Key Points: 
  • CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (CDB Leasing), announced today the company has completed the financing for eight of the nine Boeing 737 MAX 8 aircraft under the purchase and leaseback agreement with Calgary-based carrier WestJet.
  • We have formed a strong working relationship with our colleagues at WestJet, and warmly welcome them to our growing family of airline customers across the Americas, commented CDB Aviation Chief Marketing Officer Peter Goodman.
  • CDB Aviations highly competitive position among lessors is anchored in the robust resources backed by its shareholder, CDB Leasing, and bespoke financing solutions that provide market-leading economics, expanded CDB Aviation Chief Executive Officer Patrick Hannigan.
  • CDB Aviation is a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (CDB Leasing) a 35-year-old Chinese leasing company that is backed mainly by the China Development Bank.

Crown Realty Partners Announces Sale of 2300 Meadowvale Blvd and Initiates Capital Raising for its Fifth Value Add Fund

Retrieved on: 
Friday, November 27, 2020
Contract law, Leaseback, Leasing, Sales, Meadowvale, Mississauga

TORONTO, Nov. 27, 2020 (GLOBE NEWSWIRE) -- Crown Realty Partners (Crown) announced the sale of 2300 Meadowvale Boulevard, Mississauga to an institutional buyer for $75.5 million or $315 psf.

Key Points: 
  • TORONTO, Nov. 27, 2020 (GLOBE NEWSWIRE) -- Crown Realty Partners (Crown) announced the sale of 2300 Meadowvale Boulevard, Mississauga to an institutional buyer for $75.5 million or $315 psf.
  • The property was originally acquired by Crown on behalf of its fourth value-add fund, CR IV LP, in June 2017 with a two-year leaseback from the original owner.
  • Upon acquisition, Crown initiated the repositioning and marketing program for this corporate campus including large-scale capital upgrades to the common areas, amenities and parking facilities.
  • Crown is actively seeking additional value-add investments and has begun fundraising for its fifth value-add fund, CR V LP.

STORE Capital Announces November Rent Collections of 90%

Retrieved on: 
Monday, November 23, 2020
Commercial Building & Real Estate, Construction & Property, REIT, Real estate investment trust, Real estate investing, Leasing, Finance, Leaseback, Private equity real estate

STORE Capital Corporation (NYSE: STOR), an internally managed net-lease real estate investment trust (REIT) that invests in Single Tenant Operational Real Estate, today announced that as of November 20, 2020, STORE Capital had received rent payments representing 90% of contractual base rent and interest for the month of November.

Key Points: 
  • STORE Capital Corporation (NYSE: STOR), an internally managed net-lease real estate investment trust (REIT) that invests in Single Tenant Operational Real Estate, today announced that as of November 20, 2020, STORE Capital had received rent payments representing 90% of contractual base rent and interest for the month of November.
  • Our November rent collections mirror those of October, with virtually all our locations continuing to be open for business, said Christopher Volk, STORE Capitals Chief Executive Officer.
  • STORE Capital Corporation is an internally managed net-lease real estate investment trust, or REIT, that is the leader in the acquisition, investment and management of Single Tenant Operational Real Estate, which is its target market and the inspiration for its name.
  • Additional information about STORE Capital can be found on its website at www.storecapital.com .

LTC Senior Management to Participate in the JMP Securities Financial Services and Real Estate Conference

Retrieved on: 
Monday, November 9, 2020
Residential Building & Real Estate, Commercial Building & Real Estate, Construction & Property, REIT, Real estate investment trust, Leaseback, Real estate investing, Finance, Economy

LTC Properties Inc. (NYSE: LTC), a real estate investment trust that invests in seniors housing and health care properties, today announced that senior management will participate in the JMP Securities Financial Services and Real Estate Conference on Thursday, November 12, 2020.

Key Points: 
  • LTC Properties Inc. (NYSE: LTC), a real estate investment trust that invests in seniors housing and health care properties, today announced that senior management will participate in the JMP Securities Financial Services and Real Estate Conference on Thursday, November 12, 2020.
  • LTC is a real estate investment trust (REIT) investing in seniors housing and health care properties primarily through sale-leasebacks, mortgage financing, joint-ventures and structured finance solutions including preferred equity and mezzanine lending.
  • LTC holds 181 investments in 27 states with 29 operating partners.
  • All statements other than historical facts contained in this press release are forward looking statements.

May River Capital Appoints Brad Sterner as CEO of Advanced Material Processing; Transacts New Sale-Leaseback Unlocking Significant Value for Portfolio Company Marion Process Solutions

Retrieved on: 
Monday, November 9, 2020
Sterner, Leaseback, Cedar Rapids, Iowa, IOWA, States of the United States

Mr. Sterner was previously Executive Chairman of AMP, whichconsists of Kason Corporation and Marion Process Solutions .

Key Points: 
  • Mr. Sterner was previously Executive Chairman of AMP, whichconsists of Kason Corporation and Marion Process Solutions .
  • Brad Sterner has been a terrific partner to May River for many years and he has deep experience in the highly fragmented material processing equipment sector.
  • "It has been incredible to witness the talented AMP team in action, strengthening our industry leadership during this pandemic," commented Sterner.
  • In addition to appointing Sterner CEO, AMP recently executed a sale-leaseback transaction at its Marion facility near Cedar Rapids, Iowa.

LTC Senior Management to Participate in the NAREIT REITworld Virtual Annual Conference

Retrieved on: 
Wednesday, November 4, 2020
Commercial Building & Real Estate, Seniors, Construction & Property, Health, REIT, Consumer, Other Health, Residential Building & Real Estate, National Association of Real Estate Investment Trusts, Real estate investment trust, Leaseback, Real estate investing, Economy, Articles, Business

LTC Properties Inc. (NYSE: LTC), a real estate investment trust that invests in seniors housing and health care properties, today announced that senior management will participate in the NAREIT REITworld Virtual Annual Conference on Tuesday, November 17 through Thursday, November 19, 2020.

Key Points: 
  • LTC Properties Inc. (NYSE: LTC), a real estate investment trust that invests in seniors housing and health care properties, today announced that senior management will participate in the NAREIT REITworld Virtual Annual Conference on Tuesday, November 17 through Thursday, November 19, 2020.
  • LTC is a real estate investment trust (REIT) investing in seniors housing and health care properties primarily through sale-leasebacks, mortgage financing, joint-ventures and structured finance solutions including preferred equity and mezzanine lending.
  • All statements other than historical facts contained in this press release are forward looking statements.
  • The actual results achieved by the Company may differ materially from any forward looking statements due to the risks and uncertainties of such statements.

FCPT Announces Sale Leaseback of a BJ’s Restaurant Property for $3.8 Million

Retrieved on: 
Friday, October 30, 2020
REIT, Restaurant, Bar, Retail, Commercial Building & Real Estate, Construction & Property, Contract law, Leaseback, Leasing, Sales, Economy, FCPT, BJ’s Restaurants, Inc.

Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership of high-quality, net-leased restaurant properties (FCPT or the Company), is pleased to announce the acquisition of a corporate-operated BJs Restaurant (NASDAQ: BJRI) property for $3.8 million via a sale-leaseback.

Key Points: 
  • Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership of high-quality, net-leased restaurant properties (FCPT or the Company), is pleased to announce the acquisition of a corporate-operated BJs Restaurant (NASDAQ: BJRI) property for $3.8 million via a sale-leaseback.
  • The transaction was priced at a cap rate in range with previous FCPT transactions.
  • FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties.
  • BJs Restaurants, Inc. (BJs) is a national brand with brewhouse roots and a menu where craft matters.