SAN DIEGO—A locally based restaurant chain has completed a sale-leaseback transaction of 19 restaurants for $22 million to an entity controlled by a San Francisco real estate partnership. Steakhouse Partners Inc. and its wholly owned subsidiary Paragon Steakhouse Restaurants Inc. made the deal with Skyline Pacific Properties LLC in a sale that will help reduce the steakhouse chain’s debt and drum up some working capital.”We expect to capitalize on our new financial strength by continuing to extend our leadership position in the ‘step-up’ steakhouse segment,” says Richard M. Lee, chairman and chief executive officer of the San Diego-based chain.

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