PRLog (Press Release) -
Oct. 15, 2009 - Red Pine Capital Partners LLC completed the sale-leaseback of two Checkers restaurants in northern Florida on behalf of tenant -in-common investors. Quick Service Capital Partners LLC, an affiliate of Red Pine Capital and a leading Checkers franchisee, will continue to operate the restaurants pursuant to 20 year, triple net leases. The restaurants were purchased by an international buyer. As of last quarter, the two sold units ranked numbers 16 and 17 of 576 restaurants in the Checkers franchise system. Red Pine Capital intends to use the proceeds of the sale, in part, to aggressively expand its franchise operations in the Checkers system. The remainder of the proceeds will be used to develop an out parcel adjacent to one of the restaurants sites.
“The sale of this portfolio will enable Quick Service Capital Partners LLC to strategically expand our holdings in the Southeast”, said Kenneth Leon, managing member of QSCP. “We are in an excellent position capitalize on increasingly attractive QSR opportunities for our investors both in Checkers system and beyond in a manner accretive to our business model,” stated Michael Federman, principal at Red Pine Capital. "Few businesses fare as well as quick service in a recessionary environment,"
he added.
Red Pine Capital Partners LLC (www.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. 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 is a sponsor of tenant-in-common investments, an investment advisor and asset manager for a diverse pool of institutional and individual investors. Red Pine also structures and syndicates special situation bridge loans and interim financing, mezzanine loans and preferred equity loans in connection with real estate and other fixed assets.
Sectors in which Red Pine and its affiliates are active include retail and wholesale businesses, residential and commercial real estate, hotels, public storage facilities, manufacturing and distribution, QSR restaurants, gas stations and convenience stores.
