AMR also received $1.6 billion in sale-leaseback financing commitments from GE Capital Aviation for Boeing planes AMR had ordered.
Today the still-boyish DuGan shares the chief executive title at W.P. Carey & Co., a provider of sale-leaseback financing with a $1.1 billion market value.
George E. Stoddard, a pioneer in the use of real estate transactions known as sale-leasebacks to provide financing for companies having trouble gaining access to traditional sources of capital, died Monday at his home in Oren, Utah.
A series of sale-leasebacks could potentially finance the company's plan for store expansion, a necessary driver of sales growth at big-box retailers, and a move, Shapira says, that could help BJ's stock fetch up to $32.
The sale-leaseback is a form of financing in which a company sells its property for cash while remaining as a tenant under a long-term lease it signs with the buyer.
For troubled companies, sale-leasebacks provide an alternative means of financing that can be used to pay down debt.
Pioneered and refined real estate sale and leaseback transactions that earned him national prominence in the real estate and finance industries.
The company has retained Cushman & Wakefield, the real estate firm, to act as its agent to secure financing, either in the form of a mortgage or a sale-leaseback arrangement, said James M. Follo, the Times Company's chief financial officer.
Like all forms of real estate investment, the sale-leaseback market flourished in mid-decade but has all but stalled in recent months as financing has dried up.
"In addition to the revised financing arrangements, the previously announced asset disposal programme and the sale of Thomas Cook India, the group is exploring a possible sale and leaseback of certain aircraft".
It seeks a 10-year leaseback.
