Red Robin Gourmet Burgers is selling 86 of its company-owned restaurants for $72.5 million as part of two separate refranchising agreements with new operators.

The Englewood, Colorado-based casual dining chain has struck deals with Op Burgers and Kuber Oregon and Kuber Washington, with the eateries continuing to operate as Red Robin locations.

The transactions follow last month’s announcement of a refranchising deal for 30 locations with Evergreen Dining. The three deals represent a combined value of about $96 million, according to Red Robin. The company said it plans to use the net proceeds from the agreements to pay down outstanding debt and to execute on the refinancing priorities outlined in its “First Choice Plan,” a corporate turnaround strategy.

Under the terms of the most recent agreements, Op Burgers will acquire 69 Red Robin restaurants based in Kentucky, Indiana, Maryland, Ohio, North Carolina, Pennsylvania, South Carolina and Virginia for $62.5 million.

Kuber Oregon and Kuber Washington will acquire 17 restaurants based in Oregon and Washington for $10 million, Red Robin said.

“These new partnerships with Op Burgers, Kuber, and Evergreen Dining will provide Red Robin with the financial flexibility needed to reduce debt, support our refinancing objectives and accelerate investment system-wide,” Dave Pace, Red Robin’s president and CEO, said in a statement.

The transactions are expected to close in the second half of the year.

Red Robin has nearly 500 locations in the United States and Canada, including those operating under franchise agreements.

Op Burgers is a portfolio company of Alexandrite Management, a special situations private investment firm. The Kuber management team is led by Aman Sharma, a seasoned franchise operator, Red Robin said.