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Red Pine Capital Partners, LLC Acquires Arby’s Portfolio of Restaurants in Minnesota
NewswireToday - /newswire/ -
Duluth, MN, United States, 05/05/2008 - Red Pine Capital Partners, LLC acquired from a retiring Arby’s franchisee three restaurants located in Fairmont, MN, Virginia, MN and Duluth, MN.
Red Pine negotiated with an affiliate of Arby’s Restaurant Group, Inc. separate long term, triple net leases for each of the properties. The leases are guaranteed by the parent company. “The Arby’s portfolio was an ideal acquisition for our investors combining excellent real estate, top unit level sales and stellar corporate credit,” commented Jason Frank, Director at Red Pine. “Our ability to deal quickly with many unforeseen issues in due diligence and the speed with which we executed this challenging trade is a reflection of our commitment to the Arby’s brand – we hope to do many more transactions with Arby’s International,” he added.
The Arby’s portfolio complements Red Pine’s quick service restaurant holdings which include, among others, Checkers/Rally’s, Popeye’s and KFC. Red Pine Capital Partners LLC (redpinecap.com) is a boutique equity and real estate investment firm with a focus on investments in middle-market, consumer-related businesses and real estate projects with individual equity requirements of up to $60 Million.
Red Pine and its affiliated companies seek control positions in businesses where long-term capital appreciation can be achieved through the combination of creative management, new strategies and quality corporate assets as well as opportunistic investments in real estate requiring the repositioning of core real estate assets. Red Pine also structures and syndicates special situation bridge loans and interim credit facilities, mezzanine loans and preferred equity loans in connection with real estate assets.
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