Evaluating real estate
(Continued from page 1) In a “Dismantling Darden” report released Oct. 11, advisory firm Hedgeye Risk Management’s estimated Darden’s real estate value at a “conservative” $3.6 billion, compared to Barington’s $4 billion estimate. Hedgeye’s restaurant team said, “This works out to $3.438 million per owned restaurant, which is significantly below the company’s stated cost to build a new Red Lobster or Olive Garden ...
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