The latest announcement is out from Southland Holdings (SLND).
Southland Holdings, LLC sold and leaseback three properties to GCP Southland, LLC for $42.5 million, a company indirectly part-owned by Southland’s own executives. The deal, concluded on July 19, 2024, will see the proceeds used for corporate purposes, debt reduction, and covering expenses. Southland will continue to occupy the properties under a 20-year lease agreement, with renewal options and a conditional buy-back clause. This strategic financial move was announced publicly by the company shortly after the transaction’s completion.
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