FL, GA

$18,125,000 First Mortgage

In May 2024, an $18.1 million first mortgage was provided for a diversified restaurant portfolio located across Florida and Georgia. The portfolio comprises 12 freestanding restaurant properties totaling approximately 23,000 square feet and was 100% leased at closing under an absolute NNN master lease. The business plan emphasized durable in-place cash flow supported by long-term tenancy and strong unit-level performance.

The properties are leased to Sailormen, a leading Popeyes Louisiana Kitchen franchisee operating more than 200 locations, which executed a 10-year early lease extension in 2021, underscoring tenant commitment.