GRS Group Provides Multiple Services on Acquisition of 11-site Chilis Restaurant Portfolio
GRS Group’s financial services arm, GRS | Centaur, recently led a notable transaction that highlights the firm’s expertise in a broad spectrum of commercial real estate transaction services.
Led by GRS | Centaur director, Barry Bain, GRS Group was engaged by Paradigm Restaurants, LC to provide financing and transaction services on its purchase of 11 Chili’s Restaurants in MT, ID and WA.
Three of the properties acquired were fee properties in which GRS | Centaur secured financing for the acquisition and working capital for the operations moving forward. These sites included one free-standing Chili’s restaurant in Pocatello, ID and a two-tenant (Chili’s and Nagoya Japanese Steakhouse) property in Helena, MT. The third fee property, in Great Falls, MT, also included an existing Chili’s restaurant, along with an adjoining vacant restaurant space and contiguous two-story executive office building.
In addition to the GRS | Centaur’s specialized services—capital solutions and loan origination—GRS Group’s assessment services company, GRS | Corteq, was engaged to complete Surveys, Environmental Site Assessments and Property Condition Assessments for these three fee properties.
GRS | Centaur services will continue to work with the buyer, moving forward, to assure a smooth post-closing transition. The buyer intends to have the Helena and Great Falls properties legally subdivided for future tenancy and value in the future event there is not a common interest in the respective restaurant uses. GRS | Centaur will be engaged to coordinate the process of subdividing these properties and potential leasing of the vacant spaces as well.