Lifetime closes with $200 million in sale-leaseback transactions, totaling $375 million for the year


Proceeds to be used to strengthen balance sheet, support new growth opportunities

CHANHASSEN, Minn., September 12, 2022 /PRNewswire/ — Life Time Group Holdings, Inc . (“Life Time” or the “Company”) (NYSE: LTH) announced today that it has entered into a previously announced agreement to repurchase five additional properties. sale-leaseback transactions on a total of nine properties during the year 375 million dollars in gross income.

Sales and leasebacks of five additional properties have been completed September 9, 2022for 200 million dollars In total income for Life Time. The company expects to use the net proceeds to both repay debt and maintain cash on the balance sheet to fund future growth. No further details have been released.

The company previously disclosed details of the sale and leaseback of the first four properties May 16, 2022:

  • The sale and leaseback of two properties closed March 25, 2022for approx 80 million dollars In total income for Life Time.
  • The sale and leaseback of two properties closed May 13, 2022for approx 95 million dollars in gross income.

Finally, as announced with the financial results of the second quarter of 2022 August 10, 2022The company is also evaluating additional monetization opportunities 300 million dollars in real estate by the end of the year. These transactions will result in gross sales-leaseback proceeds in 2022 of approx 675 million dollars.

About life time®

Life Time (NYSE: LTH) empowers people to live healthy, happy lives through its portfolio of nearly 160 athletic country clubs. United States and Canada. The company’s healthy lifestyle communities approach all aspects of healthy living, healthy aging and healthy fun from 90 days to 90+ years with integrity and respect for everyone. With more than 30,000 teams, Life Time is committed to providing the best programs and experiences through its athletic country clubs, iconic sporting events and a complementary and comprehensive digital platform.

Forward-Looking Statements

Certain statements in this press release constitute “forward-looking statements” within the meaning of federal securities regulations, including the execution and closing (including the amount, price, timing and use of proceeds) of future leaseback transactions. as well as Life Time expectations, management or future operating results. These statements are based on the beliefs and assumptions of the Company’s management. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. In general, statements that are not historical facts, including statements about the Company’s possible or probable future activities, business strategies, events or results of operations, are forward-looking statements. Any statement or information that refers to expectations, beliefs, plans, projections, objectives, performance or other characteristics of future events or circumstances, including any underlying assumptions, is forward-looking. Several factors could cause actual results to differ materially from the forward-looking statements contained in this press release, including those discussed under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ending. December 31, 2021 filed with the Securities and Exchange Commission (“SEC”) on March 10, 2022 (File No. 001-40887), such factors may be updated from time to time in the Company’s other filings with the SEC, which are available at the SEC’s address at www.sec.gov. These and other important factors could cause actual results to differ materially from those expressed in the forward-looking statements contained in this press release. Any forward-looking statement made by the Company in this press release speaks only as of the date on which such statement is made. Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statement or to publicly announce any update or revision, whether as a result of new information, future events or otherwise.

SOURCE Life Time Group Holdings, Inc.



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