April 30, 2026 NNN REIT Q1 2026 earnings and acquisitions NNN REIT announced $26 million in net lease property acquisitions at a 6.8% blended cash cap rate and secured a new $200 million term loan during the first quarter of 2026, according to its latest earnings report. NNN REIT has continued its aggressive expansion strategy, closing on $26 million worth of net lease properties in Q1 2026 at a blended cash cap rate of 6.8%. The acquisitions are part of a broader trend, with the company having purchased $288 million in properties over the past twelve months.
Financial Growth and Acquisitions
The company's recent acquisitions highlight its focus on high-performing brands, with Olive Garden, LongHorn, and Chili's collectively representing 40% to 47% of its portfolio rent. These brands have shown resilience, with Olive Garden and LongHorn reporting same-store sales growth of 3% and 7%, respectively, for the quarter. Brinker International, which operates Chili's, also reported a 4% increase in same-store sales for the period ending March 2026.
NNN REIT's financial strategy was further bolstered by the closing of a new $200 million term loan with a seven-year tenor and an all-in rate of 4.9%. This financing move provides the company with additional liquidity to pursue further acquisitions and strengthen its balance sheet.
Portfolio Performance and Market Position
The $288 million in property acquisitions over the past year underscores NNN REIT's commitment to expanding its net lease portfolio. The company's largest tenants continue to drive performance, with Darden Restaurants' brands playing a significant role in its revenue stream.