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ST. LOUIS — Phoenix-based Alignment Realty Capital has purchased four Sonic Drive-In restaurants located in metro St. Louis. The acquisition price for the sale-leaseback transaction was not released.
The company acquired the four drive-in restaurants in a double-escrow transaction where a Sonic franchisee purchased the operations and real estate of a like-sized franchisee and simultaneously spun-off the real estate at closing.
Banker’s Trust provided Alignment Realty Capital with a five-year, floating-rate acquisition loan.