The Alta Group remarkets off-lease domestic containers for Key EF
U.S.--The Alta Group has completed a remarketing program for Key Equipment Finance resulting in the sale of 3,051 off-lease domestic dry van containers to an undisclosed buyer.
As noted by Alta’s senior managing director of asset management Carl C. Chrappa, used domestic containers like those involved in the program are traditionally difficult to sell due to their limited useful life.
“Remarketing is an important component of the full lifecycle of leased equipment, and having remarketing partners we can rely on is a priority for Key Equipment Finance,” said Adam D. Warner, president of Key Equipment Finance. “Alta’s extensive knowledge of the industry, strategic advertising efforts, and comprehensive project management led to a very successful engagement with our team.”
The 53-foot domestic dry van containers, manufactured in 2004, had been leased by a U.S. Class 1 railroad.
Alta worked with senior officers in asset management and remarketing at Key Equipment Finance to facilitate the sale and manage related logistics. Logistics included managing three schedules of the containers coming off-lease in 2014 and 2015 and their return to 19 depots, storing them and coordinating the buyer’s inspection.
“Equipment remarketing is one of the key strategic services offered by our Asset Management Practice,” said John C. Deane, CEO of Alta. “This is a great example of where Alta’s subject matter expertise in the equipment financing industry really made a difference for our client.”