With profit margins shrinking by the minute and loans more difficult to come by, more operators are garnering elusive capital for growth by selling their real estate assets and then leasing them back. Last month, Lone Star Funds, the private-equity owner of 152 Lone Star Steakhouse & Saloon units and 31 Texas Land and Cattle restaurants, executed a $69 million sale-leaseback transaction on 35 properties with Sovereign Investment Co., an investment firm that specializes in real ...

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