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Bob Evans of OH Closes $197M Sale-Leaseback
Bob Evans Farms Inc., headquartered in New Albany, OH, has closed on two portfolios of sale-leaseback transactions to National Retail Properties Inc. and Mesirow Realty Sale-Leaseback Inc. The sale of the two transactions combined totaled $197.2 million.
As part of the transactions, Bob Evans Restaurants agreed to 20-year net-master leases, with renewal options of five years. According to Bob Evans’ Chief Administrative and Chief Financial Officer Mark Hood, the monies realized from the transaction will be used to pay down debt, and to repurchase shares.
Franchise Capital Advisors, along with Quantum Global LLC, served as lead arrangers, while JPMorgan Chase & Co. served as financial advisor to the Company on this transaction.
- ◦Financing
- ◦Sale/Acquisition
