Our principals have completed in excess of $300 million of railcar, locomotive, and right of way/infrastructure transactions in the rail industry.
Our typical transaction involves $10 million of equity or less, and the underlying equipment is usually railcars or locomotives subject to leases with a remaining term of less than 7 years. Unlike many lessors we have great flexibility as to structure, having completed straightforward acquisitions as well as forward purchases, residual options, and unsecured positions. Our flexibility allows us to look at all types of equipment, and although we focus on equipment that will be less than 35 years old at lease expiry, we may consider older equipment and scrap or reconfiguration opportunities. We have experience in having locomotives rebuilt and repositioning railcars into different types of service.
As per our philosophy Panthera is less focused on the tax driven, typically new equipment financings. Recent transactions involve equipment in niche sectors within rail where although the equipment is not new, it may well be in the first third or half of its useful life.