June 3, 2008 | Vol. 6 No. 11

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Volume 6 - Number 11 | June 3, 2008

TOP STORY: Fortress Funds Buy $347M Applebee’s SLB
By Michelle Napoli
IHOP Corp., which effective yesterday changed its name to DineEquity Inc., reached an agreement with Fortress Investment Group LLC affiliates for a sale-leaseback of 187 Applebee’s Neighborhood Grill & Bar properties.

Insider: The Net Lease Conundrum
By Randy Blankstein and Jeffrey S. Rothbart
In the net lease world, 2008 is off to an interesting start. The economy has taken a downturn and some believe it is about to slump into a recession.

Update: $800M JV's Dealmakers Outline BTS Strategy
By Connie Gore
Duke Realty Corp., with a new equity partner at its side, has shifted its build-to-suit strategy with a 10-year plan to keep clients close to its on-the-ground teams.

Irish Group Buys Citibank Branch SLB Portfolio
By Michelle Napoli
Despite interest from local investors, 1031 exchange buyers and net lease-focused players, a Dublin-based company, Markland Holdings Ltd., is the winning bidder for a sale-leaseback portfolio of 47 Citibank branch properties in the greater New York metro area.

Q&A: UDC Global’s Biff McGuire
By Ian Ritter

Data Points: Single-Tenant Property Sales Trends

Short Takes: Office Depot to Open First LEED Pre-Certified Prototype Store

Recent Transactions: BPG to Construct 406,000-SF BTS

Ratings Update: Agencies Review Sprint Nextel