Holliday Fenoglio Fowler announced the $33.75 million financing of a retail portfolio comprising 21 stand-alone retail buildings fully occupied by Wendy’s in the greater Rochester, New York, and Cleveland, Ohio, metro areas.
Working on behalf of FX Net Lease Holdings LLC, the HFF team placed the 18.5-year, fixed-rate loan with Allegiant Real Estate Capital LP.
The portfolio is triple-net-leased and totals 65,588 s/f of Wendy’s restaurants, the world’s third-largest quick-service hamburger company.
There are currently 6,098 Wendy’s restaurants in operation in North America.
The portfolio buildings were completed between 1974 and 2005 and are situated on a total of 21.32 acres.
HFF’s debt placement team representing the borrower consisted of senior director Chris Hew, managing director Dan Martin and associate Evan Parker.
“The transaction comprises a portfolio of well-situated and leased assets, and we are pleased to have helped arrange a solution for FX Net Lease Holdings LLC,” Hew said.