Lashins Dev. launches sale-lease-back program

Lashins Development Corp. launched a sale-lease-back program. It completed its first sale-lease-back transaction with the acquisition of the 6,000 s/f Calico Corners store. Lashins Development created its sale-lease-back program in response to long-term trends in the appreciation of well-located real estate. In a typical sale-lease-back, the owner of a property sells that property and then leases it back for a term of 10 or more years. A sale-lease-back offers the seller-tenant an attractive alternative for raising capital through the real estate market without having to move locations. "Sale-lease-backs are an ideal financing tool when money is tight and when stock prices are down," said Ed Lashins, president of Lashins Development Corp. "A public company may find that issuing additional stock is not a viable option. Furthermore, today's economic environment may not be conducive to issuing debt or otherwise borrowing money. We look forward to developing our sale-lease-back program as a win-win vehicle for both sellers and buyers, who gain a steady income stream from their acquisition." Lashins Development Corp. traces its roots back to 1944. Under principals Edward and Eric Lashins, the company is involved in building, owning, and operating office, retail, and industrial buildings in addition to constructing upscale houses. Visit there website at: www.lashinsdevelopment.com.Heiss of Largo finances $5.32m mtge. for two office/warehouse bldgs.Lakewood Ranch, Fl Kevin Heiss, account executive for the Largo Group of Companies, arranged a $5.32 million permanent first mortgage for two office/warehouse build­ings. The two buildings were built in phases in 2008 and are comprised of 33,003 s/f of office/warehouse space. Both buildings are 100% leased to Schoolhouse Finance, LLC d/b/a Imagine Schools. Imagine Schools took occupancy of Building 1 in January and expected occupancy of Phase 2 is scheduled to occur in August. The borrower obtained a competitive five-year fixed rate loan with a 25-year amor­tization schedule for these properties.