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Sandwich Lease

What is 'Sandwich Lease'

A lease in which a party rents property from the property owner and then subsequently leases it out to another tenant. In a sandwich lease, the primary party is both a lessee and a lessor, meaning that the party both collects rent and pays rent. Not all property owners allow this sort of arrangement.

Explaining 'Sandwich Lease'

A sandwich lease involves a party sub-letting what is already being sub-let. This type of leasing arrangement may come about if the primary party signs a long-term lease on a piece of property, but is either unable to use all the space or is looking to vacate.


Further Reading


Financial constraints and the decision to lease-evidence from German SME
papers.ssrn.com [PDF]
… model is estimated with a robust sandwich estimator … 10The model presented in table 9 was also estimated with the ratio of finance lease obligations over total … leases which causes the empirical relationship between financial characteristics and the fraction of leased capital. 12 …

Do financial conglomerates create or destroy economic value?Do financial conglomerates create or destroy economic value?
www.sciencedirect.com [PDF]
… model is estimated with a robust sandwich estimator … 10The model presented in table 9 was also estimated with the ratio of finance lease obligations over total … leases which causes the empirical relationship between financial characteristics and the fraction of leased capital. 12 …

Economic consequences of changes in the lease accounting standard: Evidence from JapanEconomic consequences of changes in the lease accounting standard: Evidence from Japan
www.sciencedirect.com [PDF]
… model is estimated with a robust sandwich estimator … 10The model presented in table 9 was also estimated with the ratio of finance lease obligations over total … leases which causes the empirical relationship between financial characteristics and the fraction of leased capital. 12 …

The lease versus buy decision in real estate: Theory and practiceThe lease versus buy decision in real estate: Theory and practice
www.ingentaconnect.com [PDF]
… model is estimated with a robust sandwich estimator … 10The model presented in table 9 was also estimated with the ratio of finance lease obligations over total … leases which causes the empirical relationship between financial characteristics and the fraction of leased capital. 12 …

Wraparound Lease Financing of Personal PropertyWraparound Lease Financing of Personal Property
www.jstor.org [PDF]
… model is estimated with a robust sandwich estimator … 10The model presented in table 9 was also estimated with the ratio of finance lease obligations over total … leases which causes the empirical relationship between financial characteristics and the fraction of leased capital. 12 …

Bank size, lending technologies, and small business financeBank size, lending technologies, and small business finance
www.sciencedirect.com [PDF]
… model is estimated with a robust sandwich estimator … 10The model presented in table 9 was also estimated with the ratio of finance lease obligations over total … leases which causes the empirical relationship between financial characteristics and the fraction of leased capital. 12 …

Understanding the Islamic prohibition of interest: A guide to aid economic cooperation between the Islamic and Western worldsUnderstanding the Islamic prohibition of interest: A guide to aid economic cooperation between the Islamic and Western worlds
heinonline.org [PDF]
… model is estimated with a robust sandwich estimator … 10The model presented in table 9 was also estimated with the ratio of finance lease obligations over total … leases which causes the empirical relationship between financial characteristics and the fraction of leased capital. 12 …

The Economics of LeasingThe Economics of Leasing
academic.oup.com [PDF]
… model is estimated with a robust sandwich estimator … 10The model presented in table 9 was also estimated with the ratio of finance lease obligations over total … leases which causes the empirical relationship between financial characteristics and the fraction of leased capital. 12 …

New dimensions in educational financing: the Nigerian Education BankNew dimensions in educational financing: the Nigerian Education Bank
link.springer.com [PDF]
… model is estimated with a robust sandwich estimator … 10The model presented in table 9 was also estimated with the ratio of finance lease obligations over total … leases which causes the empirical relationship between financial characteristics and the fraction of leased capital. 12 …



Q&A About Sandwich Lease


Who are the parties involved in a sandwich lease?

The primary party and the property owner are both involved in this type of leasing arrangement.

What is a sandwich lease?

A sandwich lease is a type of leasing arrangement in which the primary party rents property from the property owner and then subsequently leases it out to another tenant.

Is there only one type of sandwich lease?

No, there are different types of sandwich leases.

What does a sandwich lease involve?

A sandwich lease involves sub-letting what is already being sub-let. This means that if you sign a long term lease on some space, but need to vacate or cannot use all the space, you can sub-lease it out to someone else.

What does "sub-let" mean?

Sub-letting means renting out something that has been rented by someone else before you. In other words, you rent something from someone who has rented it from someone else before them and so on until you get back to whoever first owned it originally (the landlord).