Chili’s restaurant properties are located in Colorado (2), Louisiana, Mississippi, Oklahoma, and Texas (2), and are occupied under triple-net leases with ~14 years of term remaining and annual rent increases of 1.5%. The transaction was priced at a 6.3% going-in cash capitalization rate.
BJ’s Restaurant and Brewhouse property is located in Arkansas and is occupied under a triple-net lease by BJ’s Restaurants with ~14 years of term. The transaction was priced at a 6.5% going-in cash cap rate, exclusive of transaction costs.
Source: M A News on Seeking Alpha