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Realty Income acquires 144 restaurant properties

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Escondido-based Realty Income announced Wednesday that it has completed the acquisition of 144 Buffets/Ryan’s restaurant properties.

The deal is part of a transaction with Fortress Investment Group LLC. It is valued at about $348 million.

The properties are located in 21 states. The company plans to keep 116 of the properties in its core portfolio as long-term investments. The rest will be placed into Crest Net Lease Inc. subsidiary, for consideration of future sale.

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