Press Release: Albanyindustries : BGL Real Estate Advisors Announce the Sale of Albany to Aterian

BGL Real Estate Advisors (BGLREA) is pleased to announce the financial closing of the sale-leaseback of a 571,500 SF NNN Leased furniture headquarters, manufacturing, and warehousing facility (The Project). The project is owned by Albany Industries, Inc. (Albany), a U.S. based, value-oriented stationary upholstery furniture manufacturer, Albany was acquired by Standard Furniture, an affiliate of Aterian Investment Partners II, LP (Aterian). Aterian sought to immediately de-leverage their acquisition by utilizing BGLREA to secure a sale-leaseback deal to close simultaneous with the operating company acquisition. Aterian purchased Albany and all of its assets.