Shares of PacWest Bancorp dropped significantly after a Bloomberg report indicated that the bank is considering a range of strategic options, including a sale. The Los Angeles-based bank is currently trading at 86% below its value on March 8. The bank is open to formal auction and could also potentially break up or look to raise capital. The potential sale comes after PacWest secured $1.4 billion from Apollo Global Management’s Atlas SP Partners to boost its finances.
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A full-service lease is a lease that has one, all-inclusive rental rate which includes both the base lease rate and the operating expenses combined into one figure.
A modified gross lease is a lease where the tenant pays base rent at the lease’s inception, but it takes on a proportional share of some of the other costs associated with the property as well, such as property taxes, utilities, insurance, and maintenance.
A triple net lease is a lease agreement on a property whereby the tenant or lessee promises to pay all the expenses of the property, including real estate taxes, building insurance, and maintenance. These expenses are in addition to the cost of rent and utilities.
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