A pair of restaurant portfolio deals in the past week, following Darden Restaurants’ purchase last month of Ruth’s Chris Steak House, marks a return of investor interest as demand improves for sit-down dining across the country.
The Necessity Retail REIT has sold 44 Bob Evans restaurants for $93 million to Orion Real Estate Group of Miami, the most active buyer of such properties over the past five years, according to CoStar data. In another deal, Four Corners Property Trust bought 13 Darden-operated properties for $79.5 million.
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