Sale & Lease Back strengthens fitness operators

industry news fitness

In February 2016, M&G investments has acquired a David Lloyd Leisure health and racquet club in Brussels and closed a leased back for 30 years. The transaction follows another deal with the chain for 44 UK clubs with a volume of approximately EURm 470 which was announced in January and is based on a ground lease for 125 years.

Aspria Hanover located at lake Maschsee

Already in 2015, Cofinimmo had acquired two clubs from high-end operator Aspria in Germany for a total of EURm 53.6. The real estate company bought the clubs in Hanover and Hamburg. The facilities have been leased back for 30 years.

The deals give both operators significant amounts of capital which could be used to develop the respective businesses. On the other side "alternative property sectors", like the leisure industry, could for their part offer institutional investors considerable relative value compared to traditional real estate sectors, as well as attractive security.

Source: M&G Investmens, Cofinimmo
Pictures: Aspria

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