National Retail Properties
Orlando, Florida
Herausgegeben: Gitta, Mariam Chandra
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National Retail Properties was formed in October 1984, organized as a real estate investment trust called Golden Corral Realty Corporation. The owners of the Golden Corral restaurant chain wanted a way to reward their employees with stock and creating a REIT was their best way to do this. By the end of that year, the newly formed REIT had 10 properties valued at roughly $4.5 million and was an over-the-counter (OTC) stock not listed on a major exchange. By 1992 the operators of Golden Corral realized that their expertise was in restaurant operations and not real estate so they agreed to hire a...
National Retail Properties was formed in October 1984, organized as a real estate investment trust called Golden Corral Realty Corporation. The owners of the Golden Corral restaurant chain wanted a way to reward their employees with stock and creating a REIT was their best way to do this. By the end of that year, the newly formed REIT had 10 properties valued at roughly $4.5 million and was an over-the-counter (OTC) stock not listed on a major exchange. By 1992 the operators of Golden Corral realized that their expertise was in restaurant operations and not real estate so they agreed to hire an outside management team to run the REIT, severing the ties with Golden Corral. The company s investment strategy was expanded beyond restaurants to include all types of retail businesses. That same year the stock was listed on the American Stock Exchange under the ticker symbol NNN.
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