Selling the building was an obvious choice for USHPA, since it makes more sense to lease than to own a building for a number of reasons. With rent almost equaling upkeep, a strong need for increased funding to shore up the RRG, and remote work space being a financially beneficial option in the long run, it was decided that selling the building was our best option during this transition. Details of the sale are below.
- The net sales price is $470,000.
- Closing is scheduled for 4/14.
- USHPA has agreed to lease back the space we currently utilize for 12 months at a monthly rental rate of $700/mo.
- Sale of the building (vs. Letter of Credit) gives USHPA an extra $150K in capital for the RRG.