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CG Commercial Completes $10.2MM Lease for Construction, Engineering Company

June 25, 2015, 07:00 AM

CG Commercial Finance (CGCF) has completed an operating lease in the amount of $10,206,405 for Yellow Iron, Manitowoc Cranes, Fleet Trucks, Skytrak Forklifts, and Wheel Loaders and Backhoes.

The Lessee is a leading General Engineering contractor focused on heavy civil construction and engineering with a 24 year history of building public sector projects such as bridges, rail transportation, water resource, and earthquake reconstruction projects throughout the United States.

The transaction was structured as a 60 month, sale-leaseback operating lease to monetize existing equipment assets resulting in improved financial ratios and increased liquidity.

Despite some credit challenges due to past losses and varying issues associated with subsidiary joint venture interests, CGCF’s structuring and asset management teams successfully structured the operating lease. CGCF also managed multiple appraisals, lien releases and sub-ordinations with various banks, and inspection sampling required for a successful funding.

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