SLB Capital Advisors, a real estate advisory firm focused on executing sale-leasebacks for corporations and sponsors, arranged four leasing transactions on behalf of EVgo, a leader in electric vehicle charging solutions headquartered in Los Angeles. The total property value of the transactions was approximately $27 million.
New York-based SLB worked on behalf of EVgo to identify and source an institutional investor to fund cornerstone properties for EVgo’s hubs business. The properties are located in Los Angeles, Santa Monica, San Diego and Brooklyn and are expected to feature fast charging stalls owned and operated by EVgo.
Malik Franklin, a partner with SLB Capital Advisors, and the principal architect of the transaction, said the deal is noteworthy for investors because the underlying real estate housing the charging stations represents an emergent source of exposure to renewable assets for both traditional sale-leaseback investors and the growing stable of infrastructure investors.
“Charging stations often occupy desirable, urban locations, and once established, can generate the stable cashflows that support institutional ownership of the underlying assets,” said Franklin.
