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Benzinga
Benzinga
Business
Shivani Kumaresan

Life Time Inks Letter Of Intent For $175M In Sale-Leaseback Transactions

Life Time LTH NYSE
  • Life Time Group Holdings Inc (NYSE:LTH) has entered into a non-binding letter of intent with a real estate investor for the sale-leaseback of four properties in transactions valued at $175 million.
  • Life Time expects the sale and leaseback of the first two properties to be completed on or before March 31, 2022, for about $80 million in gross proceeds.
  • The company anticipates the sale and leaseback of the two additional properties to be completed before September 30, 2022, for about $95 million.
  • "These transactions will allow us to continue to strengthen our balance sheet and fund the incredible growth opportunities we have in front of us," said Chairman, CEO, and Founder Bahram Akradi.
  • Price Action: LTH shares are trading higher by 3.00% at $16.32 on the last check Wednesday.
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