ORLANDO—The final Applebee's restaurant in an eight-property portfolio has traded hands. Calkain Companies brokered the sale of the triple net leased site is in Eustis, Fla.
Located primarily in Central Florida and Orlando, the portfolio sold approximately for $20.5 million which equated to a 6.93% aggregate capitalization rate. Rather than selling the restaurants to a single buyer, Calkain sought out individual buyers.
The result: the sellers saw a 200 basis points difference in the total pricing. Calkain estimates the differential in the basis points translated to an additional $4 million than if the properties were sold together.
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