SCOTTSDALE, Ariz.--(BUSINESS WIRE)--May 16, 2006--Wisconsin Hospitality Group seizes an opportunity to take advantage of favorable cap rates with leading lender GE Capital Solutions, Franchise Finance funding a $30.5 million sale-leaseback of 13 of their franchised Applebee's restaurants.
"We have a long history with Wisconsin Hospitality Group," says Bill Pabst, vice president, GE Capital Solutions, Franchise Finance. "Leveraging our experience and knowledge of the market helped us provide them with improved cash flow and reaffirms our commitment to grow with our customers."
Wisconsin Hospitality Group, based in Wauwatosa, owns and operates 38 Applebee's restaurants throughout the state. It also operates 85 Pizza Hut locations, making it one of the largest restaurant franchise companies in the state.
"In a transaction of this magnitude, you are always concerned about executing it in a timely and cost effective manner with minimal disruption to your core business," says Mark Dillon, president and CEO, Wisconsin Hospitality Group. "GE Capital Solutions, Franchise Finance has made a concerted effort to take and use customer feedback to significantly improve their transaction process and completed this rather large transaction on-time and under budget."
Applebee's, with more than 1,800 owned and franchised restaurants, is the largest casual dining concept in the world.
"We truly value our relationship with GE Capital Solutions, Franchise Finance and consider it a win/win for both companies," says Dillon.
GE Capital Solutions, Franchise Finance is a leading lender providing financing to franchisees for more than 20 years in new construction, acquisition, reimaging, and refinancing.
About GE Capital Solutions, Franchise Finance
GE Capital Solutions, Franchise Finance is a leading lender for the franchise finance market via direct sales and portfolio acquisition. With more than 20 years of experience and $11 billion in served assets, we serve more than 6,000 customers and more than 20,000 property locations, primarily in the restaurant, hospitality, branded beverage, power sports, and automotive after-market industries. We offer customers access to capital with a menu of products featuring flexible structuring, including financing for acquisitions, refinancing, construction of new units, and remodels for single- and multi-unit operators/chains. More information is available at www.gefranchisefinance.com or by calling toll-free 866-GET-GEFF (438-4333).
GE Capital Solutions provides leasing, lending, and capital investment products and services to help business customers grow. It has more than $90 billion in assets, serves more than a million clients around the world, and is headquartered in Danbury, Connecticut, USA. For more on GE Capital Solutions, go to www.ge.com/capitalsolutions.
GE (NYSE: GE) is Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.
Contacts
GE Capital Solutions, Franchise Finance, Scottsdale
Christine Roe, 480-563-6260
[email protected]
or
Arment Dietrich
Gini Dietrich, 312-787-7249
[email protected]
Stephen White