Besides podcasts, Ascension CEO and Founder Chelsea Mandel drums up sale-leaseback business by hosting poker nights, concerts and sports outings.Chelsea Mandel and her firm Ascension Advisory are on a mission to help small business buyers borrow a $17 billion a year tactic from private equity’s playbook known as sales leasebacks. But finding the right deal is nearly impossible.ccording to the U.S. Small Business Administration , the final week of April marks National Small Business Week.
Dennis purchased a dealership where just the real estate was valued at $20 million. The whole package—real estate, dealership operations, and other assets—was being sold for just $17 million. By arranging a sale leaseback, Dennis managed to cover this entire cost of the acquisition. “We were able to cover the lion’s share of the acquisition just by leveraging the property,” Brian Dennis says. “Using sales leasebacks provides the lowest cost of capital.
Mandel ought to know. Since graduating from Dartmouth in 2015 with a degree in economics, Mandel’s career has been dedicated to real estate finance. She got her start as an acquisitions analyst for real estate billionaire Barry Sternlicht’s Starwood Capital Group and later joined New Mountain Capital, where she developed and helped lead their sale leaseback strategy, executing over $400 million in transactions.
But there’s more to it than just selling; figuring out how much rent your newly purchased business can afford is crucial. The higher the rent you agree to, the more an investor is willing to pay for the property. However, if you push the rent too high, you risk drowning a previously solvent business in unmanageable costs. So, the new buyer is essentially being compensated for assembling the deal and assuming the risk of paying rent on property the business used to own outright.
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Four Dothan Business Owners Named Finalists for Small Business Person of the Year AwardFour Dothan business owners have been named finalists for the Dothan Area Chamber of Commerce’s Small Business Person of the Year Award. The 2024 finalists are Joshua Bane with Evergreen Creative Co., Reginald Greenwood of Sister’s Sout Express, Dave Guiler with Premier Entertainment Group, LLC, and Sandi Hodge with Shute Pecan Co, Inc. The Small Business Person of the Year Award is given annually to an individual owner of a local small business that shows the sustainability of their business, has strong employee relations, commitment to social responsibility, and strong community involvement.The Chamber of Commerce honors its small businesses with a week of activities in May, including the Small Business Person of the Year Award Luncheon.and receive the latest local news and weather straight to your email every morning. Get instant notifications on top stories from News 4 by downloading ourConsumer Reports investigation suggests high amounts of lead and sodium found in Lunchables
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