SCOTTSDALE, AZ, NOV. 13, 2014 - GE Capital’s Franchise Finance (GEFF) business announced today that it has provided $35 million in two separate term loans to Romulus, Inc., one of the largest IHOP® franchisees. The funds will be used to refinance existing debt, provide a dividend recapitalization and finance the acquisition of 16 IHOP units in Ohio and Indiana.
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Funds expansion into El Pollo Loco and Corner Bakery brands
SCOTTSDALE, AZ, NOV. 12, 2014 - GE Capital’s Franchise Finance business announced today that it has provided a $95 million senior credit facility to JIB Management, Inc. A portion of the funding was provided by GE Capital’s bank affiliate, GE Capital Bank. GE Capital Markets acted as sole lead arranger and bookrunner and City National Bank was co-documentation agent.
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Focuses on new relationship development and customer outreach
SCOTTSDALE, AZ, OCT. 29, 2014 - GE Capital, Franchise Finance (GEFF) announced today that it has expanded its team of account executives to focus on developing relationships with the next generation of restaurant operators nationwide.
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MX Restaurants and Bakeries, Inc. borrows $5.6 million to develop four units
SCOTTSDALE, AZ, OCT. 23, 2014 - GE Capital’s Franchise Finance (GEFF) business announced today its first financing for the Corner Bakery Café concept. That comes in the form of a $5.6 million loan to MX Restaurants and Bakeries, Inc.
Based in McAllen, TX, MX Restaurants already operates seven Corner Bakery restaurants in the Houston and South Texas markets. It will use these funds to pay off short-term debt related to a recent acquisition and to develop four additional units.
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SCOTTSDALE, AZ, OCT. 20, 2014 - GE Capital’s Franchise Finance (GEFF) business announced today that it has provided a $45 million term loan to Bennett Hospitality. The funds will be used to refinance two hotels, an Embassy Suites and a Hampton Inn, and a parking garage, located in the historic district of Savannah, GA.
Based in Charleston, S.C., Bennett Hospitality operates 16 hotels under the Hilton and Marriott flags. Founded in 1983 by Michael R. Bennett, the company is one of the largest locally-owned property development companies.
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SCOTTSDALE, AZ, OCT. 8, 2014 - GE Capital’s Franchise Finance (GEFF) business announced today that it has provided an $18.5 million term loan to Noble Investment Group, LLC, to acquire the SpringHill Suites Miami Airport South location. Positioned in the heart of the Blue Lagoon office park, the 150-room SpringHill Suites overlooks a lake and caters to multi-national companies doing business in Miami.
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SCOTTSDALE, AZ, JULY 28, 2014 --- GE Capital's Franchise Finance business announced today that it has loaned $39.4 million to Cotti Foods for the acquisition of 39 Wendy's restaurants, the remodeling of existing units and the development of new units.
Cotti purchased the units --- 32 in the greater Los Angeles market as well as seven in Hawaii --- from Wendy's International Inc. In total, Wendy's® has sold 418 company-operated restaurants across 13 U.S. markets, primarily in the West, to align restaurant ownership and generate a more predictable revenue stream.
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SCOTTSDALE, AZ, MAY 29, 2014 --- GE Capital's Franchise Finance business announced today that it has provided $31 million to United Restaurant Group, LP (URG) in a combined sale-leaseback and refinancing. GE Capital served as administrative agent and GE Capital Markets served as sole lead arranger and bookrunner on the senior debt facility.
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SCOTTSDALE, AZ, MAY 27, 2014 --- GE Capital's Franchise Finance business announced today that it has provided $35.5 million in senior debt to Valenti Mid-South Management, LLC, a major Wendy's franchisee based in Tampa, FL. The funds will be used to refinance most of the company's senior debt.
Valenti owns and operates 125 Wendy's restaurants in Tennessee, Mississippi, Arkansas, Missouri and Pennsylvania, as well as 17 Chili's in Mississippi and Alabama. The company employs more than 4,900 people.