STORE Capital Completes $79 Million Sale-Leaseback in Conjunction with Acquisition of an Applebee’s Franchisee

  STORE Capital Completes $79 Million Sale-Leaseback in Conjunction with
  Acquisition of an Applebee’s Franchisee

Business Wire

SCOTTSDALE, Ariz. -- March 27, 2013

STORE Capital Corporation (the “Company”), a real estate investment trust
formed to invest in single-tenant real estate such as chain restaurants,
supermarkets, health clubs, education and other retail, service and
distribution facilities, today announced that it provided financing to
facilitate an acquisition for RMH Franchise Corporation, a franchisee of
Applebee’s restaurants.

The transaction occurred simultaneously with an equity investment by ACON
Investments in RMH Corporation to purchase 45 Applebee’s restaurants. The
Cypress Group acted as the financial advisor for the seller, Concord
Neighborhood Corporation. STORE provided the capital to finance the real
estate included in the acquisition. This resulted in a $79 million sale and
leaseback transaction on 34 restaurants located across nine states, including
Nebraska, Kansas, Missouri, Wyoming, Texas, Oklahoma, Florida, Alabama and
Mississippi.

“We are pleased to have been able to contribute meaningfully to the execution
of this acquisition for ACON and Cypress,” said Christopher Volk, Chief
Executive Officer of STORE Capital. “Our talented team of professionals was
there to simultaneously extend our net lease financing solution in concert
with the company’s other acquisition financing. Here, our flexibility and
ability to act quickly contributed to a successful outcome and a favorable
long-term capital structure.”

“The real estate financing provided by STORE Capital was a critical element in
our successful execution of the acquisition of Applebee’s restaurants from
Concord,” said Jeff Neumann, Chief Executive Officer of RMH Franchise
Corporation.

“The STORE Capital team did a fantastic job in bringing the transaction to a
close. They showed tremendous flexibility in structuring the deal in order to
accommodate the needs of several different parties involved, and they were a
pleasure to work with along the way,” said Dean Zuccarello, Chief Executive
Officer of The Cypress Group.

About STORE Capital Corporation

STORE Capital Corporation is a new-generation real estate investment trust
principally backed by funds managed by Oaktree Capital Management, L.P.
STORE’s mission is to address the long-term capital needs of real estate
intensive operating businesses throughout the United States. Through tailored
real estate lease and mortgage financing solutions, STORE’s aim is to create
wealth for its customers by improving the capital efficiency of their
businesses. For more information, visit www.storecapital.com.

Contact:

Media Contact:
ICR for STORE Capital
Hayley Cook, 203-682-8254
hayley.cook@icrinc.com
 
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