ORLANDO, Fla., Oct 05, 2005 /PRNewswire-FirstCall via COMTEX/ -- Trustreet Properties, Inc. (TSY) closed on the purchase of 117 restaurant properties from GE Commercial Finance, Franchise Finance. The portfolio is comprised of 12 primarily quick-service restaurant brands including Pizza Hut, Arby's and Burger King. The properties are leased to 34 tenants and are geographically diversified among 19 states.
"This is the second deal we've worked on with Trustreet and both were positive experiences," says Dave Stansbery, vice president of real estate, GE Commercial Finance, Franchise Finance. "Our teams worked seamlessly together and met rigorous deadlines to close the deal successfully."
"This transaction strengthens our long-term restaurant portfolio and extends our position as the leading provider of triple-net lease financing to the restaurant industry," said Curtis McWilliams, President and CEO of Trustreet Properties, Inc. "With this closing, we are on track to acquire between $375 and $425 million in properties this year."
About Trustreet Trustreet Properties, Inc. (pronounced trust - street) is the largest self-advised restaurant real estate investment trust (REIT) in the United States. Trustreet, traded on the NYSE under the ticker symbol TSY, provides a complete range of financial, real estate and advisory services to operators of national and regional restaurant chains. For more information, visit our web site at http://www.trustreet.com .
The company does not disclose certain information on individual transactions. Lease rates and terms are competitive in nature and are considered proprietary information.
SOURCE: Trustreet Properties, Inc. Liz Kohlmyer, Communications Manager, Trustreet Properties, +1-407-540-2221
