GRS Group was instrumental in the execution of a multiple party transaction that involved the acquisition and financing of 21 Taco Bell franchised restaurants in OH, PA and MI.
The Taco Bell franchise business and real estate was marketed by Marshall Morgan, an advisor to the restaurant franchisee business. Thirteen of the Taco Bell restaurants included in the transaction were fee-owned and acquired by Agree Realty Corporation and leased back to Charter Foods North, LLC (the buyer of the franchise business) at close of escrow. Charter Foods North, LLC’s acquisition of the franchise business and balance of the leasehold restaurants were financed by Regions Bank.
GRS Group directors Allen Brown (GRS | Title) and Barry Bain (GRS | Centaur) spearheaded the service package. Services provided by GRS Group included environmental site assessments, title insurance, survey, zoning, escrow, closing and capital solutions. During the transaction Regions Bank engaged GRS | Title to provide additional title and closing services for the leaseholds and added collateral they were securing from Charter Foods North, LLC through an enhanced credit facility.