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Sheltair Refinances Insider Buyout

FORT LAUDERDALE, FL-The locally based developer-operator of aviation facilities secures a $12-million mortgage on leases at Fort Lauderdale-Hollywood International Airport in a move to buy out some of the company's private shareholders.

By David R. Corder | Updated on July 17, 2001

FORT LAUDERDALE, FL-A successor to Sheltair Aviation Center Inc. has secured a $12-million mortgage on leases at Fort Lauderdale-Hollywood International Airport as part of a plan to buy out some of the company’s shareholders.

Disclosure of the buyout emerged in official Broward County records because of stipulations in lease agreements the Fort Lauderdale-based developer-operator of airport facilities maintains on about 45 acres of property at the airport.

Specifics on the buyout are unavailable because the official county record does not disclose detailed accounts about the buyout or the formation of Sheltair Aviation Center, the successor company. Officials at the successor company did not respond to a request from GlobeSt.com for comment.

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