Our initial real estate portfolio included 300 Olive Garden® restaurants, 104 LongHorn Steakhouse® restaurants, 11 Bahama Breeze® restaurants, two Seasons 52® restaurants, one Wildfish Seafood Grille® restaurant, as well as the six properties that comprise the LongHorn San Antonio Business. We have since acquired quick service restaurants including Pizza Hut, Wendy's, KFC's, Arby's, and Buffalo Wild Wings.
Of these properties, 418 are leased to Darden and/or one or more of Darden’s operating subsidiaries on a triple-net basis on terms comparable to similar leases negotiated on an arm’s-length basis. We are actively scaling and diversifying our portfolio as seen by our recent acquisitions.
The portfolio was formed through a selection of 424 high-quality Darden restaurant properties with stable cash flows and strong rent coverage
Cap rates achieved on recent one-off sale leasebacks support attractive valuation for Four Corners’ portfolio