The full year acquisitions were done at an average cap rate of 7.22% with a weighted average lease term of just over 14.5 years.

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At the end of the lease term, the driver owes a balloon payment.

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Of course, a long-term lease like Chan's is contingent on being a club member, which requires not only an invitation from the club but increasingly deep pockets.

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Unlike all other big fast-food chains, McDonald's owns or controls under a long-term lease the vast majority of its stores and land.

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Although Mullaiperiyaru dam is located in Kerala, it is operated by the government of Tamil Nadu which signed a long-term lease with the former British government.

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