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Real Estate Sale Leasebacks For Financial Sponsors & Business Owners

Get the most out of your balance sheet assets by converting real estate into flexible, non-dilutive capital. 
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Sale Leaseback Experts

Our specialization in the art of the sale leaseback strategy sets us apart. With backgrounds in private equity, investment banking, management consulting, and real estate investing, our team has the expertise to structure and execute even the most complicated sale leaseback transactions.

Spencer Fried and Jack Foley
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Strategic Advantages

Redeploy existing capital into highest and best use
Generate liquidity through non-dilutive financing
Secure flexible financing without covenants or personal guaranties
Realize 100% of asset market value, compared to a mortgage
Access cheaper capital than other financing alternatives
Create equity value through arbitrage of EBITDA vs. Cap Rate multiples


Uses of Funds

Businesses use sale leaseback proceeds to fund expansions of existing facilities or new locations, invest in equipment and capital expenditures, pay down expensive debt, redeploy into core business operations, or even take chips off the table for stakeholders.

Financial Sponsors can also leverage sale leaseback proceeds to finance M&A transactions and buy down their acquisition EBITDA multiples.

Jack Foley and Nina Valtchanov

Frequent Sale Leaseback Questions

Click each option below to learn more.

What is a sale leaseback?

A sale leaseback is a financial transaction where a company sells an asset, typically real estate, to an investor and then leases it back for a long-term period. This allows the company to continue using the asset while also unlocking the capital tied up in it.

Why do companies choose sale leasebacks?

Private Equity Firms and Business Owners opt for sale leasebacks for several reasons, including the need to free up capital for reinvestment in their core business, improve liquidity, optimize balance sheet structure, and potentially benefit from tax advantages. This approach can also allow for more flexible financing options compared to traditional debt financing.

What are the benefits of a sale leaseback?

The primary benefits include immediate access to capital, off-balance sheet financing, potential tax benefits, and the ability to focus on core business activities without the capital constraints of owning real estate. It can also improve certain financial ratios, making the company more attractive to investors.

What criteria do investors look for in a sale leaseback transaction?

Investors evaluate the creditworthiness of the company, the quality and location of the property, the stability of the company's business, and the attractiveness of the lease terms, including rent, duration, and renewal options.

How can a sale leaseback impact a company’s balance sheet?

A sale leaseback can positively impact the balance sheet by converting a fixed asset into liquid capital, thereby improving liquidity ratios. While the lease obligations are recorded as liabilities, the overall effect can be a stronger financial position and improved operational flexibility.

Can a sale leaseback arrangement be customized?

Yes, sale leaseback terms are highly customizable. Ascension Advisory can help negotiate lease lengths, payment schedules, and other terms to align with the company's strategic financial plans, operational needs, and future growth projections.

Are sale leasebacks suitable for all industries?

While sale leasebacks can be beneficial across various industries, they are particularly common in sectors where the real estate is mission-critical to the operating company, such as retail, manufacturing, and logistics. The suitability can depend on the company's financial goals, industry stability, and the strategic value of retaining operational control over the property.

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Our Network Yields Synergies

Ascension Advisory sits at the intersection of three distinct verticals, Private Equity & Financial Sponsors, Business Owners, and Referral Partners, providing unmatched synergies for our partners. 

Private Equity & Financial Sponsors

As an Ascension partner, whether you're a private equity firm, family office, independent sponsor, search fund or holding company, you'll have access to proprietary investment opportunities from our network of business owner clients and referral partners. Learn More

Private Equity & Financial Sponsors

As an Ascension partner, whether you're a private equity firm, family office, independent sponsor, search fund or holding company, you'll also have access to proprietary investment opportunities from our network of business owner clients and referral partners. Learn More

Business Owners

We help all types of businesses take advantage of the many benefits of the sale leaseback strategy. We provide business owners with creative liquidity solutions, tapping into flexible financing sources that can be used to fuel growth. As an Ascension partner, you’ll also have access to our extensive network of capital partners, M&A firms, and other strategic advisors. Learn More

Referral Partners

We provide real estate advice to you and your clients, whether during the pitching stage, a live transaction, or just for their general knowledge and awareness. As as Ascension partner, you’ll benefit as a preferred provider in our network as we facilitate introductions to business owners, private equity firms, and others seeking your specific services. Learn More

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Hear From Our Clients

Max Kathari Express Kitchens Photograph

"Ascension left me thoroughly impressed with the team’s performance throughout the lifecycle of our sale leaseback transaction. Their team was efficient, knowledgeable, and highly organized...We look forward to working with them in the future."

Max Kothari | Chief Executive Officer | Express Kitchens
Alastair Sanderson Operior Group

"It was great working with Chelsea and her team. The way that they were able to handle the unique challenges faced in this transaction was impressive. I am confident that we delivered the maximum value for the sellers, the buyers and our operating entity."

Alastair Sanderson | CEO | Operio Group
private equity firm partner sale leaseback

"This sale leaseback was very important for the Company. It unlocked meaningful capital for us to redeploy into higher ROI opportunities that will help drive the Company's growth for years to come. The Ascension team was integral to making this possible."

Partner of Private Equity Firm
william goetz alpha precision sale leaseback

"Our goal with the sale leaseback was to position the company to continue investing in advanced technologies and to fund growth. Our success and timing in closing the sale leaseback is a testament to Ascension’s expertise and partnership."

William Goetz | CFO | Alpha Precision PM
Søren Nielsen Wiedex USA sale leaseback

"The Ascension team did a great job leading us through this sale leaseback transaction on behalf of the company. The company signed a long-term lease at the facility, demonstrating the business’s commitment to this site."

Søren Hvidberg Nielsen | President | Widex USA
Vice President of Private Equity Firm photograph

"The Ascension team delivers reliable and timely execution with attentive and highly responsive service. We trust the Ascension Advisory team to move quickly to achieve our real estate-related objectives."

Vice President of Private Equity Firm
Associate Private Equity Firm

"Ascension delivered an excellent SLB outcome on an accelerated timeline that tracked our M&A process. As such, we were able to consummate a RE deal simultaneously with our M&A transaction and helped us fund the M&A deal."

Associate of Private Equity Firm
Principal of Private Equity Firm

"We have worked with Ascension in the past, and have always had a very strong experience.  Very strong attention to detail, real-time communication, work ethic, and an excellent grasp of the market are a few of the reasons I continue to work with Ascension."

Principal of Private Equity Firm
Group Chairman of European-Based Private Equity Firm

"The Ascension team supported us every step of the way during our process. The deal team was very helpful in keeping this transaction on track and worked diligently with all parties involved toward a successful close."

Chairman of Private Equity Firm
Joe Cappuccio Trinity Petro Sale Leaseback

"The Ascension team has an amazing ability to parse the complexity out of any transaction providing for a smooth glide to a closing. There is no way we would have achieved even a fragment of our success without them."

Joe Cappuccio | Partner | Trinity Petro
Daryl Scott Surlean Foods Sale Leaseback photograph

“Chelsea and her team did a great job. This transaction provides additional capital allowing us to continue reinvestment into our business that has seen tremendous growth over the last 12 months.”

Daryl Scott | Chief Executive Officer | Surlean Foods
Henry Legere Immune Diagnostics
“We engaged the Ascension team to help us market and sell our medical office property and we couldn’t be more happy with their team, process, and results. I highly recommend the Ascension team.”  
Henry Legere | Founder & CEO | Reliant Immune Diagnostics
Brian Dennis Sale leaseback photograph

"Ascension has allowed us to turbocharge our business expansion. In fact, our last SLB deal was nothing short of incredible – we used the entire sale leaseback proceeds to fund the acquisition of the entire dealership operations – no cash outlay required."

Brian Dennis | President | Dennis & Co. Auto Group
Vice President of Private Equity Firm

"I enjoyed our experience working with Ascension. I would recommend Ascension again to be used by our firm or will suggest you all to other PE firms that ask for recommendations."

Vice President of Private Equity Firm
Josh Chandler Whisker CFO sale leaseback

“Ascension Advisory was instrumental in helping Whisker achieve a successful real estate sale leaseback transaction during an increasingly challenging macro environment.”

Josh Chandler | Chief Financial Officer | Whisker
Shamari McCrimons photograph

"It was a pleasure working with the Ascension Advisory team on Dirty Dog's Car Wash recent sale leaseback transaction! Great team. Great results."

Shomari McCrimons | Chief Financial Officer | Dirty Dog's Car Wash
Co-Founder of Private Equity Firm sale leaseback

"The Ascension team delivered on everything they proposed and hit the aggressive timeline we asked for. Their thoroughness and professionalism throughout the process was fantastic and we won’t hesitate to work with them again."

Co-Founder of Private Equity Firm

Why Businesses Prefer Sale Leasebacks

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Higher & Better Use of Capital

Maximize company value by reinvesting sale leaseback proceeds back into the core operating business.

Arbitrage & Value Creation

Take advantage of attractive cap rates that imply higher multiples than the multiple at which your operating business is valued.

Balance Sheet Optimization

Use sale leaseback proceeds to pay down expensive debt, strengthening your company's balance sheet.

Attractive Financing Alternative

Sale leaseback financing can provide a business with a cheaper cost of capital than traditional debt financing.

Source of Expansion Funding

Sale leasebacks can be used to fund facility expansions as well as acquisitions of new companies and locations.

Liquidity Solution

Sale leasebacks can provide an attractive source of liquidity for growing businesses and portfolio companies.