Investment Overview

The offering consists of an absolute triple-net lease to Carrabba’s Italian Grill Located in The Woodlands, Texas, one of the most sought-after suburbs of the Houston submarket. There are annual escalations of approximately 1 percent. There are four five-year options. The land totals 1.51 acres and fronts on North Fwy I-45 (212,000 AADT). This is a great opportunity for out-of-state and in-state investors looking for passive income and no landlord responsibilities. Carrabba’s has 220 locations across the United States. Bloomin’ Brands, Inc. (NASDAQ: BLMN; S&P: BB-) is one of the world’s largest casual dining restaurant companies with approximately 1,500 restaurants throughout 47 states, Guam, and 17 countries. The company operates restaurants through a portfolio of leading, differentiated restaurant brands including Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill, Fleming’s Prime Steakhouse & Wine Bar, and Aussie Grill. Bloomin’ Brands reported 2022 revenues of $4.42 billion and net income of $101.9 million. Montgomery county is a fast-growing suburban market that has recently seen developer interest in recent years with Conroe being one of the fastest-growing cities in the nation in terms of population growth. Strong demographic and household growth are reasons why the area continues to attract new residents, retailers, and investors. Within a one-, three-, and five-mile radius, respectively, the population totals over 12,252, 67,526, and 190,327 people. Average household incomes are $100,258, $127,107 and $142,770 within a one-, three-, and five-mile radius, respectively.