Sale and operating leaseback

Question) On 1 October 20X2, Laidlaw sold a property which had a carrying amount of $3.5million to a property company for its fair value $5million. Laidlaw will rent the property for a period of five years at an annual rental of $400 000. At the end of this period, Laidlaw will be given the opportunity to repurchase the property at its fair value before it is put on the open market

Hi sir, the above is considered a sale and operating leaseback right ? Because laidlaw has the opportunity to repurchase the property at the end of the lease term at its fair value.

If it had the opportunity to repurchase the property at lower than market value then it would have been considered as sale and finance leaseback.

Am i right sir ?