LA FITNESS PORTFOLIO

LEXINGTON, KY, ANTIOCH, TN, LOUISVILLE, KY

$35,901,052

LA Fitness Portfolio Proposal 2 Cover

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