X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SCOTTSDALE, AZ-GE Commercial Finance, Franchise Finance has acquired a portfolio that combines free real estate, associated capital, lease holdings and leasebacks in the amount of $203 million from Trustreet Properties Inc.

According to Trey Brown, executive vice president and commercial lender for GE Commercial, the deal was structured on triple net leases and leasebacks with the Orlando-based Trustreet. He tells GlobeSt.com that another attractive aspect of the deal was the quick turnaround: a 45-day closing.

“The partners are familiar with one another and they remain as one of many very reliable partners we do business with,” Brown says. “We put a lot of resources around this and we mobilized a large team quickly to take advantage of the timing. The sooner we could get the assets the better.”

The assets in the portfolio still had a life term of between 10 and 15 years on average, with brands including Ruby Tuesday, Taco Bell, T.G.I.F. Friday and Wendy’s. “This was a broad spread of concepts we’re very comfortable with,” Brown notes.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.