GRS Group provides Suite of Services on Two Franchise Restaurant Transactions
GRS Group recently engaged its project management platform, the Global Services Connection and three of its service brands on separate restaurant transactions with Buffalo Wild Wings and the Tilted Kilt Pub & Eatery stores.
Both transactions were originated by GRS | Centaur, GRS Group’s Financial Advisory arm.
The Buffalo Wild Wings transaction involved a sale-leaseback on a site in Indianapolis, IN. GRS | Centaur was engaged by the private equity-owned franchisee to seek out financing. GRS | Corteq and GRS Group’s Global Service Connection were then brought in to perform the Phase I Environmental Assessment and ALTA Survey—while GRS | Title provided title insurance and closing services.
The second transaction, with Tilted Kilt, involved a straight acquisition on a bank-owned property in Woodbridge, IL—a western suburb of Chicago. GRS | Centaur advised on the two tenant site that included the operating Tilted Kilt store and a shuttered sushi restaurant.
GRS | Corteq and the Global Services Connection were again engaged to perform the environmental and property assessment services. The team delivered the Phase I, Property Condition Assessment, and the ALTA Survey. GRS | Title handled the title insurance and closing services on this distressed property as well.
“GRS | Centaur regularly provides services in distressed real estate and franchise portfolios,” said Barry Bain, GRS | Centaur director. “With a wealth of experience in analyzing distressed properties, facilitating lease renegotiations, and managing complex situations to resolution, we are able to serve both sides of a transaction, if necessary.”
GRS | Centaur director Barry Bain and GRS | Title’s national accounts manager, Allen Brown, spearheaded the services package with the assistance of GRS Group associate director Min Kwak at the GRS Group Global Services Connection fulfillment headquarters.