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Ascension Advisory's Two-Company Theory
Every operating company that owns its real estate is, financially, two companies. The mistake is...
Topic
Journal Article
The Rise of Mega Deals in M&A and What It Means for Buyers and Sellers
The global mergers and acquisitions market has returned to growth, but the nature of that...
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How Lease Structure Drives Value in a Sale Leaseback
As more companies explore sale leasebacks as part of their capital strategy, one factor...
Risk Distribution in M&A and Why Deal Structure Matters Most
There is a moment in every acquisition that rarely features in the press release. It happens just...
U.S. SLB Market Update: Rising Corporate and Sponsor Demand
The U.S. sale leaseback (SLB) market is seeing a clear increase in interest as we move into 2026....
Ownership to Liquidity: How Companies Should Evaluate a Sale Leaseback
As interest in sale leasebacks continues to grow across the U.S., more companies and private equity...
Share Sale vs. Asset Sale: The Decision That Can Shape a Business Exit
When selling a business, the structure of the transaction can be as important as the purchase...
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European SLB Outlook: Country-Level Opportunities in a Stabilizing Macro Environment
As 2026 unfolds, European sale leaseback (SLB) markets are entering a more constructive phase after...
Managing Currency Risk in Mexico Through Dollar-Denominated Leases
For companies operating in Mexico, currency risk is an unavoidable reality. While Mexico continues...
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Saks Fifth Avenue and the Limits of Financial Engineering
For more than a century, Saks Fifth Avenue has occupied a rare place in American retail. It was not...