Net Lease Summit
The Observer is back on the road next week for REJournals 11th annual Net Lease Summit in Chicago on Thursday, July 24th.
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Home | National Net Lease Summit (11th Annual)
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Bowling buyback
Lucky Strike Entertainment (NYSE: LUCK) announced the purchase of 58 pieces of real estate underlying its operating properties from affiliates of iStar for $306 million.
Carlyle Global Credit acquired iStar’s net lease business in 2022 for $3 billion.
Previously leased, the subject properties generated $80 million in EBITDAR and were paying $21 million in rent (subject to 15% rent increases every 5 years). The purchase price reflects a 6.9% capitalization rate (~14.5x multiple).
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