Leaseback arrangements are usually employed because they confer financing, accounting or taxation benefits. Leaseback agreements were bought out and the company began closing unprofitable stores. The transaction was a classic sale leaseback. TA elected to sign an approximately $400 million sale leaseback deal with HPT. In December 2007, the company acquired 388 Greenwich Street from Citigroup in a leaseback transaction. The leaseback sale attracted nine bids from six continents. Leaseback arrangements are common in the REIT industry. Under the agreement, Thunderbird would sell its campus to Laureate in a leaseback agreement. This arrangement is called "sale and leaseback". Under the substance-over-form principle, the sale and subsequent leaseback are considered one transaction. In 1992, two DC-10-30CFs were acquired from Martinair in a buy/leaseback contract. The leaseback concept has spread to other European countries, including Spain and Switzerland. The leaseback concept has also spread to industry, mostly for industrial equipment. The welfare and leaseback programs got an abrupt ending as well.