Sale & Leaseback of Industrial and Logistics Assets

Immediate monetisation of the asset without loss of use

A Sale & Leaseback transaction enables the immediate unlocking of hidden value within a real estate asset, converting an industrial property—traditionally illiquid—into available cash from day one.
All of this is achieved without disrupting day-to-day operations, as the company continues to operate from the same premises under a long-term lease agreement.

This mechanism is particularly attractive in growth, investment or strategic repositioning environments, as the property ceases to be a fixed asset and becomes a direct source of liquidity, while business continuity remains fully intact.

Moreover, unlike traditional bank financing, monetisation can reach up to 100% of the asset’s value.

Balance sheet optimisation and improvement of financial ratios

Sale & Leaseback is a strategic financial tool that enables an immediate enhancement of the balance sheet structure:

• Reduces the weight of fixed assets
• Improves key ratios such as ROCE, liquidity and leverage
• Frees up resources that can be allocated to core business activities, productive investments, M&A or debt reduction

From a shareholder perspective, this approach typically results in more efficient capital allocation, prioritising operational returns over the ownership of non-strategic real estate assets.

Optimal market timing: strong investor appetite for industrial assets

The current market shows very strong investor demand for industrial and logistics assets, particularly those occupied by operating tenants under long-term leases.

Institutional funds, insurance companies and family offices are actively seeking this type of product due to its:

• Stable cash flows
• Low operational risk
• Defensive profile

This imbalance between supply and demand often translates into highly competitive pricing and compressed yields, allowing owners to maximise the sale value of the asset within a Sale & Leaseback framework.

Flexibility in lease agreement structuring

Unlike a conventional sale, a Sale & Leaseback allows the seller—acting as the future tenant—to tailor the lease agreement to its operational and strategic needs.

Among other aspects, it is possible to negotiate:

• Long lease terms providing stability (attractive WALT for investors)
• Market-aligned rental levels
• Future flexibility options (break options, expansions, etc.)

In this way, the company retains control over its production space, while transferring ownership to a specialised investor.

Transfer of real estate risk

Through a Sale & Leaseback transaction, the company eliminates its exposure to real estate risk by transferring to the new owner:

• Future CapEx requirements
• Asset obsolescence risk
• Structural maintenance and property management costs

This allows the conversion of variable and uncertain costs into a predictable operating expense, improving financial visibility and enabling management to focus exclusively on the industrial business.