NASHVILLE, TN-Restaurant chain O'Charley's Inc. has signed a sale-leaseback transaction valued at $105 million with STORE Capital, a REIT based in Scottsdale, Arizona. As per the deal, STORE Capital has purchased 50 restaurants from O'Charley's and will leaseback the properties to the restaurant chain through a long-term triple-net lease. O'Charley's stated that it will utilize the sale proceeds and cash of $11.4 million to buy back $115.2 million worth senior notes.
Details of the acquired restaurants were not revealed. For the full story, go to Commercial Property Executive .
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