Vereit Strikes $204M Deal To Sell Red Lobster Portfolio

Law360, Minneapolis (November 5, 2015, 2:26 PM EST) -- California private equity investment firm Golden Gate Capital has picked up a portfolio of Red Lobster restaurants from Phoenix-based real estate investment trust Vereit Inc. for $204 million, according to a joint announcement from the companies on Thursday.

For Vereit, the sales are part of a long-term strategy to dispose of properties. Golden Gate Capital and Vereit also plan, through a strategic partnership, to sell an additional $400 million in Red Lobster properties, the companies said on Thursday.

"The acquisition of these Red Lobster properties will generate attractive returns for our investors and reflects our continued confidence in the strength of...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!