High Cap Rate | Triple Net Portfolio Investment, Southeast Region

Property Description

Majority are located in an Income Tax Free State!

Triple Net Portfolio Investment All of the restaurants are leasehold interests on ground leases.

There is no real estate being sold. A buyer is purchasing two limited partnership ownership interests in Corporate-guaranteed restaurants:

1. A 50% limited partnership ownership interest in Corporate TGI Fridays Restaurants. The other 50% general partner is Carlson Companies, Inc. Carlson is the manager and operator of the restaraurants. The buyer does nothing - just collects the check monthly.

2. A limited partnership ownership interest in Corporate LongHorn SteakHouse Restaurants. Darden Restaurants Inc. is the manager and operator of the restaursnts. There are several limited partners along with Darden who is the general partner.

Carlson Companies, Inc. comprises a rapidly growing Minneapolis-based worldwide corporation that encompasses three operating groups: Carlson Travel Group, concerned with worldwide travel management; Carlson Hospitality Worldwide, dealing in hotels and resorts (including Radisson, Regent, and Country Inns brands), restaurants (T.G.I. Friday's and Country Kitchen), and cruise ships (Radisson Seven Seas Cruises); and Carlson Marketing Group, the leading sales marketing agency in the United States. Carlson Travel Group includes the jointly owned (with Paris-based Wagonlit Travel, owned by Accor Group) Carlson Wagonlit Travel, the second-largest travel management network in the world, after American Express. These three groups operate in conjunction with one another to form one of the world's largest and most profitable private companies, which is poised to become a market leader in the travel, hospitality, and marketing services industry.

Darden Restaurants Inc. (NYSE: DRI) Darden owns and operates more than 2,105 restaurants, in all 50 states under various concepts such as Olive Garden, Red Lobster, LongHorn Steakhouse, The Capital Grille, Yard House, Bahama Breeze, Seasons 52, Eddie V's, and Wildfish Seafood Grille. For the fiscal year, that ended May, 2013, company's sales were around $8.6 billion.

Pure Passive Investment With Corporate Guarantee From Fortune 500 Companies

Armchair Investment. These are cash cows and great income producers and no headache. Just sit back and receive your accounting and distribution income check every month like clockwork.

Available in this offering is a Real Estate Limited Partnership ("RELP") Interest. In a RELP, limited partners are much like stockholders in a public company, in that they have only limited influence in the business operations of the limited partnership. However, limited partners also have limited liability. If the RELP faces losses, limited partners are only liable for the amount of their capital contributions.

Opportunity to own an ownership percentage in Corporate Guaranteed TGIF Fridays and Longhorn Steak House restaurants. The TGIF restaurants are manages by Carlson who owns Fridays, Radisson hotel and cruise ships. Darden restaurants manages the Longhorn Steak Houses. Darden owns Olive Garden and Red Lobster.

Triple Net Portfolio Investment. Ownership interests in 8 TGIF and 3 Longhorn Steakhouse restaurant properties. High cap with mandatory $100,000 annual increase in return.

Predominantly the restaurants have about 10 years plus left on initial terms plus four 5-year renewal options.

This is a Private, Confidential and Off-Market Offering. This property is quietly being offered and is not being widely marketed on commonly used large listing services.

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About the Tenant

TGI FRIDAYS

T.G.I. Friday’s Inc., aka “Friday’s”, is arguably the most recognized chain in the casual dining sector in North America. Friday’s was founded some in 1965 with one restaurant in New York City. The company has since grown to generate well over $2.5 billion dollars in annual revenues thru 1,000+ restaurants in 51 countries and 49 states. Friday’s is a wholly owned subsidiary of Carlson Companies who acquired the chain nearly 40 years ago in 1975.

The parent of T.G.I. Friday’s Inc., Carlson Restaurants Worldwide, Inc (CRW)., is a subsidiary of Carlson Companies, Inc. Carlson Companies was founded in 1938 and is a global leader in the travel, cruise, restaurant and hotel industries. Today, the company is one of the largest privately owned corporations in the country with operations in nearly 150 countries worldwide, employing approximately 160,000 people. In 2008 the company posted $38 billion in revenues. The company is headquartered in Minnetonka, Minnesota.

Carlson's ambitious strategy for this highly innovative brand is to grow it by at least 160 more restaurants in operation by 2015, bringing the portfolio to nearly 1,100 restaurants in key destinations across the world.


LONGHORN STEAKHOUSE

LongHorn Steakhouse is a chain consisting of 350 Western-style steak restaurants in 33 states, many of which are franchised; however, this location is not franchised. The tenant on the lease, RARE Hospitality International, Inc., is also the operator of the Capital Grille concept and was purchased by Darden Restaurants, Inc. (NYSE: "DRI"), in October 2007 for approximately $1.4 billion. Currently, Darden owns, operates, and franchises full-service restaurants in the United States and Canada under the brand names of Red Lobster, Olive Garden, Bahama Breeze, and Seasons 52, in addition to the LongHorn Steakhouse and Capital Grille brands. With more than 1,800 restaurants and 180,000 employees, Darden is the largest operator of full-service restaurants in the world. The company was founded in 1968 and is headquartered in Orlando, Florida.

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