Brauvin Net Lease, LLC has acquired four Burger King restaurants for $5.9 million through a sale/lease back transaction with operating affiliates of Heartland Food Corporation (“Heartland”). Burger King Corporation, the system franchisor, operates approximately 11,283 restaurants worldwide and generated fiscal 2007 sales of $13.5 billion. Heartland is the second largest Burger King operator and it has 268 operating units. Heartland is based in suburban Chicago and is majority owned by Blackstone Group (NYSE: BX). 

The portfolio contains three properties located in Illinois (Chicago, Plainfield and Marshall) and one property located in Conover, NC. Each of the properties is well located and is adjacent to a primary retail draw. The buildings contain a total of 12,296 square feet located on land parcels totaling 192,296 square feet.

Concurrent with Brauvin’s acquisition of the portfolio, new twenty year leases were executed with the operator. The leases are absolute triple net to the tenant; and Brauvin has no operating or repair/replacement obligations.