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Five Applebee’s sold in 1031 exchange
San Diego — Representing a real estate investment trust, The Mansour Group has sold a portfolio of five Applebee’s for $13.3 million.
To complete the transaction, The Mansour Group sourced a private high net worth California investor, who sold an apartment complex and acquired the portfolio through a 1031 exchange. The restaurants are located in North Carolina, Texas, Tennessee, Minnesota and Kentucky: -
LA Fitness to open fourth San Antonio location
Irvine, Calif. — LA Fitness has announced that it will open its fourth location in San Antonio. Construction of the 45,000-sq.-ft club will begin in the spring of 2014. LA Fitness has over 45 locations throughout Texas, concentrated in the Dallas/Fort Worth and Houston areas.
When complete, the new LA Fitness will create approximately 50 new full-time and part-time jobs.