U.S. sale leaseback transaction activity rebounded in 2025, driven by improving M&A markets and renewed corporate demand for alternative sources of capital, according to SLB Capital Advisors.
The U.S. sale leaseback market recorded 714 discrete transactions in 2025, representing a 3 percent increase from the prior year, while aggregate dollar volume rose 18 percent to approximately $14.4 billion.
Scott Merkle, managing partner of SLB Capital Advisors noted, “Activity meaningfully accelerated during the second half of the year, signaling growing momentum heading into 2026.”
Fourth quarter activity was particularly strong, with sale leaseback dollar volume increasing approximately 56 percent to $4.7 billion in fourth quarter 2025, compared with roughly $3.0 billion in third quarter 2025, as larger transactions returned to the market.
The 2025 total also marked the first time since 2022 that annual sale leaseback volume exceeded 700 transactions, und
