Red Robin Gourmet Burgers, Inc. Completes Sale-Leaseback Transaction With Essential Properties Realty Trust, Inc.

Red Robin Gourmet Burgers, a popular full-service restaurant chain, has completed a Sale-Leaseback transaction with Essential Properties Realty Trust, Inc. The deal involved selling and simultaneously leasing back nine owned properties, generating approximately $29 million in proceeds. The funds will be used to repay debt, support capital investments, and facilitate share repurchases. Red Robin's Chief Financial Officer, Todd Wilson, expressed satisfaction with the partnership and hinted at exploring additional Sale-Leaseback transactions in the future. CBRE Group acted as an advisor to Red Robin in the transaction. The company operates over 500 Red Robin restaurants across the United States and Canada, serving a variety of burgers and other food options in a casual, playful atmosphere.