RCS Real Estate Advisors, a national retail real estate advisory firm specializing in restructuring and portfolio optimization strategies, is proud to announce its role as the real estate consultant for Pinnacle US Holdings, a subsidiary of PureGym Ltd. (“PureGym”), as it pursues the acquisition of Blink Fitness. PureGym, one of Europe’s largest and most successful fitness operators, has been named the stalking horse bidder for Blink Fitness, positioning them as the lead contender in the court-supervised auction process.
Earlier this year, PureGym partnered with RCS Real Estate Advisors to drive the expansion of its Pure Fitness brand in North America. RCS is now set to support PureGym’s strategic growth once again, as the company aims to acquire Blink Fitness and further extend its footprint in the U.S. market.
“We are excited to support PureGym in this pivotal transaction as their trusted real estate advisor,” said Moe Puri, Managing Director of RCS Real Estate Advisors. “Our team is dedicated to helping PureGym secure prime locations and strategic assets that will drive their success as they expand and strengthen their position in the U.S. fitness market.”
The agreement follows Blink Fitness’s Chapter 11 filing and includes the acquisition of a substantial portion of Blink’s operations, focusing on key markets in New York and New Jersey. PureGym signed a stalking horse agreement with a base purchase price of $105 million in cash, subject to court approval and the potential for higher bids in the upcoming auction.
The auction for Blink Fitness’s assets is scheduled for Oct. 28, 2024.
To learn more about RCS Real Estate Advisors, visit www.rcsrealestate.com.
About RCS Real Estate Advisors
Founded in 1981, RCS Real Estate Advisors (RCS) is a leading national retail real estate advisory firm that provides innovative, tenant-centric solutions for complex real estate challenges. RCS’s team of industry veterans use their in-depth retail knowledge and experience to fight tenaciously for their clients’ long-term success. RCS maximizes returns and protects its clients from entering into bad agreements, with a deal-structure mindset rooted in a forward-looking, risk-averse approach. The firm specializes in reducing occupancy costs, restructuring leases and expanding physical footprints.
RCS excels at identifying and exploiting investment and expansion opportunities because it sees the world through retailers’ eyes. For more than four decades, retailers have trusted RCS to strike the best, most favorable lease terms, preserve profitable locations, select the best sites for expansion and growth, and monetize real estate. For more information, visit: https://www.rcsrealestate.com/about-us/
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