Press Release

Applebees Real Estate Portfolio Sold for $46 Million

Tampa, FL – David Sobelman and Teal Henderson of Calkain Companies completed a $46 million portfolio sale of Applebee’s-occupied real estate.  The fourteen (14) triple net lease (NNN) assets, located primarily in West and Central Florida, were sold to individual buyers for each location.  Buyer interest came from as far away as South America, China and Europe but the majority of the assets were sold to US-based investors looking for passive income attached to strong real estate locations.  The decision was made by the seller to patiently sell each asset in the open market which yielded Calkain’s client over an estimated $8 million, over 18%, in additional proceeds than selling all of the assets in one portfolio transaction.

Teal Henderson commented, “There are times in the life cycle of real estate ownership where you have to decide whether or not to hold or sell assets.  Whatever the motivation, its important to know the value of an owner’s assets in regular increments; Calkain suggests annual reviews of real estate values.  By explaining to our client how much their assets were worth in either scenario, a portfolio sale or individual sales, they made the decision to try and maximize the value of their assets and sell each property individually.” David Sobelman continued, “With over $10 billion in sales since our inception, its clear that we’re able to handle large scale transactions as well as individual sales.  We enjoy helping our clients decipher the merits of any situation.”

Calkain Companies is a commercial real estate brokerage firm which specializes in assisting buyers and sellers with single and multi-tenant net leased properties through all aspects of the transaction including advisory, brokerage, debt placement, equity placement, asset management and research. Calkain has a national platform with multiple office locations throughout the entire East Coast. Additional information about the firm and listings may be found at

Traci BidingerApplebees Real Estate Portfolio Sold for $46 Million

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