MIAMI (January 6, 2016) – Robert Bhat, vice president of NorthMarq Capital’s Miami based regional office arranged acquisition financing of a single tenant restaurant portfolio from GE Capital. The $8.12 million loan commitment is secured to several properties including two Bakers Crust (IL), a T.G.I. Friday’s (VA), a Saint Louis Bread (MO) and a Shoney’s (TX). Orion Venture XII North LLC, a subsidiary of Orion Investment and Management, a full service international commercial real estate firm that manages a portfolio in excess of $400 million, was the borrower. The transaction was structured with a 3-year interest-only term.
“This portfolio contains well located properties with strong restaurant tenants and lengthy lease terms. Even though the properties were scattered across half of the country, I was able to find a bank that provided a nonrecourse loan with a three year interest-only term, and a floating rate below four percent,” said Bhat.