August 10, 2004 |
U.S. Restaurant Properties Inc. will merge with restaurant real estate investment trust CNL Restaurant Properties Inc. and 18 CNL Income Funds in a deal valued at $1.3 billion in cash and stock. The merged company will offer real estate services and financing to restaurant chains. It will have $2.5 billion in assets, own 1,900 properties and have financial interests in about 3,000 properties in 49 states.