In an increasingly hostile credit and bank-lending environment, post-secondary career schools - business and technical training institutions aimed at recent high school graduates and older adults - are some of the latest names looking to sale/leaseback transactions for real estate financing.
New York-based real estate investment banking firm W.P. Carey & Co. has announced an $18.5 million build-to-suit funding for Allentown, Pa.-based Allentown Business School. Located in the Center Valley, Pa., Stabler Corporate Center, the state-of-the-art campus facility will be leased under a 20-year bond-type net lease followed by two 10-year renewal options. The three-story, 95,000 square foot facility is scheduled for completion in June 2003.