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PRINCETON, N.J.— Sovereign Investment Company, one of the largest and fastest-growing private equity investors providing sale/leaseback capital, announced it acquired 23 Wendy's locations in Georgia and Florida for $39.6 million.
 
According to a news release, Sovereign purchased the portfolio from BBB Service Company Inc., an Atlanta-based Wendy's franchisee, which will lease the properties back for a 20-year term.

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