05:13 PM EST, 01/20/2025 (MT Newswires) -- SIR Royalty Income Fund (SRV-UN.TO) after close of trade Monday said it added four new restaurants to its Royalty Pooled Restaurants on Jan.1.

The fund estimated annualized net revenue of the new Royalty Pool restaurants of $27.1 million is expected to result in a $1.6 million increase to the royalty stream entitlement on the basis of the 6% royalty. The Fund, through the Partnership, will pay SIR for the additional royalty stream entitlement through the conversion of 775,976 Class B GP Units currently held by SIR, into Class A GP Units on a one-for-one basis.

SIR Corp. closed one restaurant during 2024, which was removed from the Royalty Pool effective Jan. 1. The Royalty Pool now consists of 52 restaurants, including: 36 Jack Astor's restaurants, 13 Scaddabush Italian Kitchen & Bar locations, Reds Square One, the Loose Moose Tap & Grill and Edna + Vita.