Centric Capital Nabs 10-Asset Portfolio Leased to Taco Bueno

A 10-building quick service restaurant portfolio fully leased to Taco Bueno recently sold to a Dallas-based developer. The portfolio totals 25,643 square feet across Oklahoma and Texas.

The buyer was Centric Capital Partners. The portfolio traded for $13.7 million reflecting a 7.22 percent cap rate.

The seller, U.S. Realty Advisors LLC, was a private equity group based in New York. U.S. Realty was represented by Josh Pardue of Stan Johnson Company.

“This transaction had a few nuances – explaining the transition from bankruptcy to new ownership, working through a restaurant sale during the pandemic as well as understanding how to effectively market small cap credits to achieve top pricing,” said Pardue. “The tenancy was recently acquired by a leading operator, Sun Holdings Inc., which was attractive to the buyer. With drive-thru properties being in demand, not to mention the largely Texas-based locations, we saw strong interest from institutions, regional buyers and private investors alike.”

Sun Holdings Inc. acquired Taco Bueno in 2019 to revitalize and grow the brand. With more than 23 years of restaurant experience, the company has built an expansive franchise network with 11 brands across 800 locations and 12 states.