Expertise in Action

GRS | Centaur Provides Buy-Side Advisory Services for Burger King Portfolio Acquisition

Barry Bain Director, GRS | Centaur (630) 690-4335 bbain@grs-global.com

Barry Bain
Director, GRS | Centaur
(630) 690-4335
bbain@grs-global.com

GRS | Centaur was instrumental in the execution of a multiparty transaction that involved the acquisition and financing of 14 Burger King franchised restaurants in North Dakota and Minnesota.

Colliers International and MarshallMorgan, LLC marketed the Burger King franchise business, and real estate, in a collaborative effort.  MarshallMorgan is an advisor to the restaurant franchisee business.  Eleven of the Burger King restaurants included in the transaction were fee-owned and acquired by Agree Realty Corporation and leased back to Meridian Restaurants Unlimited, LC (the buyer of the franchise business) at close of escrow.

GRS | Centaur identified Agree as the best candidate to execute this sale-leaseback and advised them on the due diligence and underwriting of the transaction.

According to Geoff Linden of Agree “GRS | Centaur was our partner from beginning to end on this deal.  GRS | Centaur acted as our underwriting advisor on the front-end, our independent third-party consultant during due diligence as well as our closing coordinator.  We continue to work with GRS | Centaur on various projects nationwide.”

Meridian’s acquisition of the franchise business and balance of the leasehold restaurants were financed by one of their preferred lenders.  Meridian Restaurants Unlimited, LC is a 50+ unit Burger King franchisee is six states and seeking additional opportunities to grow.

This is the second franchise restaurant merger/acquisition transaction on which MarshallMorgan and GRS | Centaur have collaborated in 2014.  MarshallMorgan is a franchise finance advisory firm specializing in the acquisition and sale of franchise markets, sale-leasebacks, debt and equity sourcing, partnership buy-outs and valuations.

GRS | Centaur director Barry Bain spearheaded the transaction for GRS Group.  GRS Group’s assessment company, GRS | Corteq, also provided Phase I and zoning services.