Investment Properties

 

The Partnership currently owns the following Investment Properties:

 

Property Name Address Lessee Annualized Operating Base Rent Lease Expiration Date

Applebee's

2770 Brice Rd
Columbus, OH

RMH Franchise Corporation

$138,000

8-31-2027

Wendy's

1721 Sam Rittenburg Blvd
Charleston, SC

JAI Hospitality Group, LLC

$76,920

12-31-2040

Wendy's

343 Folly Rd
Charleston, SC

Wendcharles I, LLC

$70,200

12-31-2040

Wendy's

361 Hwy 17 Bypass
Mount Pleasant, SC

JAI Hospitality Group, LLC

$77,280

12-31-2040

Wendy's

3013 Peach Orchard Rd
Augusta, GA

Wendgusta, LLC

$86,160

12-31-2040

Wendy's

1901 Whiskey Rd
Aiken, SC

Wendgusta, LLC

$96,780

12-31-2040

Wendy's

1730 Walton Way
Augusta, GA

Wendgusta, LLC

$96,780

11-6-2026

Wendy's

1004 Richland Ave
Aiken, SC

Wendgusta, LLC

$90,480

12-31-2040

Wendy's

517 Martintown Rd
N Augusta, SC

Wendgusta, LLC

$87,780

11-6-2026

 


Summary of Properties


As of December 31, 2021, the Partnership owned nine Properties, all of which feature tenants that are franchisees of casual restaurants. The following are operated at the aforementioned nine Properties: eight Wendy’s restaurants, and an Applebee’s restaurant. The Properties are located in a total of three states.

 


Eight Properties Leased to Wendy's Franchisees


At December 31, 2021, eight of the nine Properties were (and continue to be) leased to three Wendy’s franchisees. Operating base rents from these eight leases during the year ended December 31, 2021 comprised approximately 90% of the total 2021 operating base rents. During the year ended December 31, 2021, additional percentage rents were also generated from these eight Wendy’s Properties and totaled $366,473. Additionally, those eight Properties exceeded 80% of the Partnership’s total Properties, both by historical asset value and number. Six of the Properties that are currently leased to Wendy’s franchisees feature lease expiration dates of December 31, 2040. The other two Properties that are currently leased to Wendy’s franchisees feature a lease expiration date of November 6, 2026.

 

 

 

 

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