Selling your facilities to a real estate investor and then leasing them back can offer several advantages for a manufacturing company:

1. Liquidity Injection: Selling the facilities provides an immediate injection of cash into the company, which can be used to pay down debt, invest in growth initiatives, or bolster cash reserves for future opportunities or challenges.

2. Off-Balance Sheet Financing: Leaseback arrangements effectively move the facilities off the balance sheet, which can improve financial ratios and enhance the company's overall financial position.

3. Operational Flexibility: Leasing back the facilities allows the manufacturing company to continue operating without the burden of property ownership. This flexibility can be especially valuable in a rapidly changing business environment where operational needs may evolve over time.

4. Option to Buy Back: Negotiating an option to buy back the facilities at a later date can provide the company with flexibility and control over its long-term real estate strategy. This option allows the company to potentially repurchase the facilities if it becomes financially feasible or strategically advantageous to do so in the future.

5. Duration of the Lease Contract: The duration of the lease contract is a crucial consideration. Longer-term leases typically offer more stability and predictability for both the company and the real estate investor. However, shorter-term leases may provide greater flexibility for the company to adapt to changing market conditions or strategic priorities.

6. Triple Net Lease Contract: A triple net lease shifts the responsibility for property taxes, insurance, and maintenance costs to the tenant (the manufacturing company). This arrangement can provide cost certainty and predictability for the company, as it knows exactly what expenses to expect beyond the base rent.

7. Optimization of Facilities: Selling the facilities to a real estate investor may also present an opportunity to optimize the company's real estate portfolio. This could involve consolidating operations, divesting underutilized assets, or reallocating resources to more strategically important locations.

Overall, a sale and leaseback arrangement with a real estate investor can offer significant financial and operational benefits for a manufacturing company. However, it's essential to carefully evaluate the terms of the agreement, including the option to buy back the facilities, the duration of the lease contract, the structure of the lease (such as triple net), and the potential for optimizing the company's real estate assets to ensure that the arrangement aligns with the company's long-term strategic objectives and financial goals. Consulting with legal and financial advisors can help ensure that the company secures the most favorable terms and mitigates potential risks associated with the transaction.