- What A portfolio of 18 quick-service restaurants is on the market
- Why The franchises are operated by Franchise Management Inc.
- What next The portfolio is expected to trade at a 6% blended cap rate
A portfolio of 18 quick-service restaurants in Western Canada operating under the Kentucky Fried Chicken banner has been teed up for $30m, Green Street News can reveal.
The properties are in British Columbia, Alberta and Saskatchewan, and all but one have a drive-thru window. The package is expected to trade at a low 6% blended capitalization rate. Marcus & Millichap REIS Canada has the marketing assignment.
Fast-food giant Franchise Management Inc., which has a portfolio of more than 400 restaurants, operates the properties. All are subject to absolute triple-net, long-term leases, 15 of which are new.
There are four properties in B.C., 12 in Alberta and two in Saskatchewan. They were built from 1975 to 2017.
Marketing materials tout the reliability of FMI as an operator, the high visibility of the properties’ locations and the tenant-manager arrangement.
