Business Specialties Investments
NPC International to Acquire, Sell Pizza Huts
Nov 7, 2008
By: Elena Gontar, Staff Writer

NPC International Inc. will acquire 191 Pizza Hut restaurants from Pizza Hut Inc. for $52.9 million, and will sell 70 additional units to Pizza Hut for $19.6 million.

When all is said and done, NPC will increase its net holdings of Pizza Hut restaurants by 12 percent, to a total of more than 1,100 locations. NPC is the world's largest Pizza Hut franchisee.

"This unique transaction demonstrates the strength and depth of our relationship with PHI as well as both parties' ability and willingness to work with each other, noted NPC chairman & CEO Jim Schwartz, in a release. "We are strong believers in the Pizza Hut brand and believe that now is an excellent time to increase our investment in the brand."

Of the units being acquired by Overland Park, Kan.-based NPC, 82 are located around Tampa, Florida, and 52 are near Kansas City. The additional units are in Cedar Rapids, Iowa, and Atlanta. The units being sold to Pizza Hut Inc. are in Jackson, Miss.; Spokane, Wash.; Savannah, Ga.; and Jacksonville, Fla.

NPC will fund the purchase with proceeds from the sale of the 70 restaurants to Pizza Hut, as well as utilizing a $75 million credit line and cash on hand.

 
Recent Investments Headlines
AIG 70 pine st smal AIG Headquarters Sale Makes Splash in Quiet Manhattan Investment Market
June 10, 2009
With rumors circulating of a sale price around $100 per square foot, the sale of the 66-story American International Group headquarters in Lower Manhattan likely set the bar for the biggest sale in the area market thus far in 2009.
While Hotel Investment Activity Languishes in the U.S., Market Remains Viable in Brazil
June 09, 2009
Plagued by the global recession that has slashed both business and pleasure travel, the hotel market is suffering on an international level and investors have backed away from buying or building in most locations, with a few exceptions--like Brazil. According to a new report by real estate services firm Jones Lang LaSalle Hotels, the positive long-term growth forecast for Brazil is popping up on the radar of those who are in the position to invest.
Economic Update - Starwood Eyes Distressed Sector with $500M Fund
June 08, 2009
Yet another deep-pocketed real estate entity has jumped into the grave-dancing game—only please, don’t call it that, but rather strategic investment in distressed properties. The player is a newly formed investment company called Starwood Property Trust Inc., a creation of Starwood mogul Barry Sternlicht, which filed with the Securities and Exchange Commission late last week for a public offering that aims to raise half a billion dollars to do the distressed-property boogie. It will invest in not only physical properties, but mortgages and mortgage-backed securities.
Signs of Life in 2Q as Sales Volume, Capitalization Jump
June 04, 2009
Despite overall sales figures down double digits from last year, transactions are still move forward, albeit in smaller amounts. Another good sign of real estate activity is the re-equitization of the REIT industry that continued in May as more companies deleveraged their balance sheets with equity capital raised in the public markets.
REIT Week Lack of Leverage Lends Strength, REIT Week Panel Maintains
June 04, 2009
The bad news is, the United States is in a Great Recession and the commercial real estate market is likely to feel continued pain during the next two years as corporate cutbacks result in weaker fundamentals. The good news is, the public equity markets have been improving in the past few months, with returns bouncing back substantially and multiples back down to more reasonable levels as the market has responded to REIT success at raising capital through secondary offerings.
 
Select Coverage By City:

?CPN Executive Outlook? A roundtable discussion on market strategies with John C. Cushman III, Chairman of Cushman & Wakefield, Inc., Gordon DuGan, President and CEO of W. P. Carey & Co., and Mark Rauenhorst, Chairman and CEO of Opus Group.; CPN; Cushman & Wakefield; Gordon DuGan; John C. Cushman III; Mark Rauenhorst; Opus Group; W. P. Carey & Co.; Eugene Gilligan, Senior Editor for Commercial Property News interviews Bob Bach, National Director, Market Analysis Grubb & Ellis Company at Multi Housing World.; Bob Bach; Commercial Property News; Eugene Gilligan; MHN; Multi housing news; multi housing world; hompage