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Tweeter Frees Up Capital in $35M Sale/Leaseback Deal

ATLANTA-Two area suburban stores are included in a five-property sale/leaseback transaction between the Canton, MA-based home entertainment chain and Bellevue, WA-based GE Capital Business Asset Funding. Tweeter Sells the stores for $14.5 million and leases them back for $20 million.

By Marita Thomas | Updated on October 15, 2002

ATLANTA-The locally based office of New York’s Newmark Capital Group has arranged the sale/leaseback of five buildings of the Canton, MA-based Tweeter Home Entertainment Group retail chain at an aggregate value of about $35 million.

The two Atlanta area stores in the deal are the Douglasville Blvd. Hi-Fi Buys in Douglasville, and the Hi-Fi Buys on Atlanta Ave. in Athens. The other three stores are in Texas.

Bellevue, WA-based GE Capital Business Asset Funding acquired the five properties for an aggregate sale price of $14.5 million with an aggregate lease of $20 million.

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