Inglese Negotiates Sale Leaseback for Pharmaceutical Company
Norwich, CT — The New Haven Group’s Steven Inglese arranged a sale leaseback of a 135,000 SF facility owned by Sheffield Pharmaceutical. The buyer was a publicly traded REIT who purchased the property for $5,350,000 along with a long term lease arrangement that was entered into at the closing with Sheffield. Inglese negotiated the long term lease and sales transaction on behalf of Sheffield Pharmaceutical and procured the buyer.
The transaction was moved along swiftly in order to help the seller pay off expiring debt and provide additional equity embedded in the real estate to bolster the company’s balance sheet for future growth. The transaction occurred within 75 days from start to finish as a result.