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