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AFR and Sandler to Chase Mid-Size Banks

JENKINTOWN, PA-Sandler O'Neill signs an agreement with American Financial Realty Trust to co-market sale-leaseback deals to middle market financial institutions.

By Marita Thomas | Updated on July 14, 2006

JENKINTOWN, PA-American Financial Realty Trust and New York City-based Sandler O’Neill + Partners LP signed an agreement to work together to market sale-leaseback deals to middle market financial institutions that have between $500 million and $40 billion in assets. Sandler will work with locally based AFR through its affiliate, Sandler O’Neill Mortgage Finance LP.

Sandler is an investment banking firm that advises the banking industry. “Over the past five years, Sandler has consistently ranked as one of the leading M&A advisors to financial institutions as well as one of the leaders in raising capital for the middle market banking sector,” says Nicholas Schorsch, AFR’s president and CEO, in a statement.

Michael Lacovara, a Sandler principal and COO, tells GlobeSt.com, “there are between 3,500 and 4,000 banks in the size-range we’re targeting. It’s impossible to know, without evaluating their balance sheets, how many might benefit from a sale-leaseback. But, our company has established relationships with from 800 to 1,000 of those institutions, and just about every one of them that we have talked with so far has shown significant interest.”

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