Sale and Lease Back
Here is a short article on sale and leaseback: not a difficult thing to deal with so this is another example for you to add to your files.
Travelodge, the budget hotel operator controlled by Dubai International Capital has raised £128 million through a sale and lease back of 17 of its hotels.
The company operates 314 hotels, the majority of them in the UK and is selling some underlying property assets to Prestbury, the property vehicle owned by Nick Leslau.
It is the second sale and elase back deal Travelodge has signed with Prestbury. Leslau is expected to inject both packages of Travelodge properties into the £2 billion real estate investment trust he is planning to float on the London Stock Exchange.
Source: Khaleej Times 29th April 2007
Duncan Williamson
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