LA FITNESS PORTFOLIO
LEXINGTON, KY, ANTIOCH, TN, LOUISVILLE, KY
$35,901,052
AT A GLANCE
Sourced all cash institutional buyer
Rare opportunity to Acquire off market la fitness portfolio
4 existing stores with a 5th under construction / pre-sale
CHALLENGES
Double net leases / in-line store format
Seller had in place debt — CMBS loan with significant defeasance crossing 5 stores
Secondary generation space — not typical LA Fitness building layout
MARKETING STRATEGY
Highlighted the strength of tenant and membership performance at these locations
Marketed to institutional buyer pool and conducted bid process
Individually branded, priced, and marketed each site to maximize value
RESULTS
Closed within 98% of asking price / record breaking price of portfolio sale
Created simultaneous close inclusive of defeasance payoff with lender
Confidential marketing and institutional bid process conducted