After many months of negotiation, McLaren confirmed that it sold its facilities to the American company Global Net Lease (LNG) by 238 million. The transaction, which will become effective in the second quarter of the year, includes a rental agreement in favor of the company founded by Bruce mclaren during 20 years.
“We are pleased to announce that this world-class facility will become part of the LNG portfolio. The state-of-the-art buildings at McLaren Group headquarters have won numerous awards, were designed by renowned architect Norman Foster, and are the kind of mission-critical net leased properties that make up the LNG portfolio. ", he claimed James nelson, CEO of GNL.
"We have a large amount of immobilized cash in that building and that is not a productive fund when it is looking to make investments in your business"he said at the time Zak Brown, who was always in favor of getting rid of the facilities created during the management of Ron Dennis.
With this operation, the McLaren Group, which includes the team of F1 and the manufacture of sports vehicles, he hopes to put his finances in order after a 2020 with many losses caused as consequences of the coronavirus pandemic.
Fortunately, at the end of last year, he obtained a loan that allowed him to face the crisis and even new capital, such as those of MSP Sports Capital, which bought a minority stake in the team in 258 million.