ORLANDO—A seven-property Applebee's restaurant portfolio has a new owner. Located primarily in Central Florida, the triple net leased retail assets traded for about $18.5 million. The sale price equated to a 6.93% aggregate capitalization rate.

David Sobelman, Calkain's executive vice president, led the sale and marketing aspects of the portfolio for the seller. Sobelman tells GlobeSt.com the deal was unique in that he found individual buyers for each retail asset rather than selling the portfolio in a single transaction.

“There are certain instances where a true portfolio sale will benefit the seller and allow an investor to attain some critical mass in any one transaction,” Sobelman says. “However, I felt that this portfolio would benefit the seller greatly by allowing individual investors the opportunity to purchase one location within the portfolio for their personal accounts.”