Rochester, NY Holliday Fenoglio Fowler, L.P. (HFF) completed the $33.75 million financing for a retail portfolio comprising 21 stand-alone retail buildings fully occupied by Wendy’s stores locally and Cleveland, 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.