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.
