In 2007, Aludyne (formerly Chassix) sold two assets to an intuitional investor via sale-leaseback with both buildings under a single 20 year lease. By 2018, operational needs for the Bristol facility had seized. At the time, 9 years of remaining rental obligation existed and there was a desire to reduce this exposure.

Advocate was engaged and explored three separate strategies. Advocate partnered with “best in class” listing brokers in Bristol and had the facility on the market for sublease. During this time, an owner/user was identified and wanted to purchase the Bristol facility.

Advocate negotiated the sale of the Bristol facility in turn for a lease extension at the Montague facility. This transaction produced an approximate savings of $7M for Aludyne and both the legal and rental exposure of the Bristol facility were absolved.