Founders Advises The Sale Leaseback of The Factory Connection Corporate Headquarters
August, 2004
Founders Investment Banking, LLC is pleased to announce that the sale of the The Factory Connection’s corporate headquarters and central distribution center has been completed. The 72,000 square foot office/distribution facility, located in Albertville, AL, was purchased for approximately $1.5 million dollars by the Foundation Sale Leaseback Fund I.
With the recent recapitalization of their company complete, the owners of The Factory Connection desired to capitalize on the premium value in their real estate that was created in this transaction via a long term lease . After evaluating several options for the owners, Founders Investment Banking identified the Foundation Sale Leaseback Fund I as an attractive buyer and advised it on the purchase and leaseback of the property. “Founders was able to extract value for me and my partner from both our company and our separa tely owned real estate,” stated Terry Scott, former majority owner of The Factory Connection. “They were able to carve out the property from our company and provide immediate liquidity, with the closing process only taking about 6 weeks.”
About The Factory Connection
The Factory Connection, LLC operates a chain of over 160 value-priced retail apparel and accessories stores located in ten states across the Southeast. The Company targets cost conscious women and men in upper-lower and middle-income households who value fashionable clothing and accessories at low prices. The Company has built its business and reputation by operating in small communities, generally with populations of 5,000 or more, that are traditionally underserved by other apparel and accessory retailers
About Foundation Sale Leaseback Fund
The Foundation Sale Leaseback Fund I was created as an investment vehicle to purchase commercial and industrial properties throughout the Southeast. It is currently seeking acquisitions of single or multi tenant properties of $1-$5 million in value.
About Founders Investment Banking
Founders Investment Banking is an independent investment banking firm, headquartered in
