The deal with the bank provides the fund with lower-cost capital and access to fees. CNL American Properties Fund is in the CNL Financial Group Inc. family of funds.
The restaurant fund's Securities and Exchange Commission filing shows funds from operations dipped to $32.7 million from $45.5 million in the previous reporting period.
Assets, however, increased to $1.6 billion from $1.14 billion.
The fund booked $186 million in net lease and securitized debt investments in the fourth quarter, or 45% of the entity's total investments in leases and property for the year.
Among the fund's national clients are Burger King, Hardee's, Golden Corral, Denny's, Shoney's, Long John Silver, Kentucky Fried Chicken, Taco Bell, Ponderosa and Perkins.
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