GRS Group recently completed another multi-party, multi-property, multi-disciplined transaction providing multiple services across its commercial real estate service offering.
The transaction involved an add-on acquisition of ten (10) Burger King restaurants in Minnesota with $8 million in sale-leaseback financing for seven of the restaurants.
GRS | Centaur provided capital solution services on the acquisition, while GRS | Title provided title insurance (including lender policies), escrow, and closing services. Additionally, GRS | Corteq provided environmental site assessments and surveys.
As is typical with these types of complex transactions, there were several parties involved. NDM Restaurants (Meridian Restaurants Unlimited, LC), Burger King franchisee, acquired the business and real estate assets from Lakeland Management and related entities. NDM Restaurants simultaneously assigned their rights to acquire the real estate to Vault Equity Partners at closing—who, in turn, leased back the restaurants to NDM Restaurants. Signature Financial was NDM Restaurants’ lender on the acquisition while GRS | Centaur helped coordinate the transaction. There were no other business advisors involved in this transaction as it was a direct deal between the parties.