RECENT TRANSACTIONS
A selection of recent investments made by Red Pine and its affiliated companies include: |
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Yummy Inc. A distressed 20 unit franchise of Yum! Brands, Inc. operating Taco Bell and KFC restaurants in New York and Ohio. Red Pine recapitalized the company in part by structuring a sale leaseback program which provided liquidity to finance future development and improve the company's core operations. Yummy Inc. and its affiliates were subsequently sold to a financial buyer. Red Pine's hold period was one year. |
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Hillmoor Golf Club Together with a partner, Red Pine acquired a 20 year old golf course located in Lake Geneva, Wisconsin from a long time owner/operator. The venture also purchased an additional 80 acre adjacent parcel upon which single family homes will ultimately be developed together with a retail/lifestyle component. The golf course was redesigned by a new management team to optimize the course's potential and operations were streamlined to improve profitability and public image. A portion of the development opportunity was sold to a financial buyer. |
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Maryland Quick Service Investors LLC Red Pine acquired four Popeye's Chicken & Biscuits restaurants located in and around Baltimore, Maryland from the largest Popeye's franchisee in the Mid-Atlantic United States. Red Pine also issued convertible preferred debt to the operator in order to buy-out the franchisee's existing equity partner and provide capital for future acquisitions. |
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Minnesota Restaurant Investors LLC Red Pine acquired three Arby's restaurants located in Minnesota from an Arby's franchisee, negotiated long term, triple net leases with an affiliate of Arby's Restaurant Group, Inc. (which lease was guaranteed by the parent company) and sold the assets to 1031 investors at aggressive capitalization rates. Red Pine also provided seller/bridge financing to certain end buyers at an interest rate equal to the investor's rate of return. |
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Food Fast Corporation An affiliate of Red Pine sponsored a tenant in common acquisition of four convenience store and pump stations in southern Arkansas and Louisiana which the venture triple net leased to Food Fast Corporation, an operator of over 60 convenience stores and a fuel distributor in the southeastern United States. |
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GC Southwest Holding Company LLC Red Pine provided subordinate secured financing for the operator of six Golden Corral franchise restaurants in the Arizona region which the company used to finance acquisition and development of additional sites. |
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Four Aces LLC and Village Chapel LLC A Red Pine affiliate acquired Four Aces LLC and Village Chapel LLC, which are both holding companies that own properties upon which the largest mid-atlantic franchisee of Damon's Restaurants operates its businesses. Red Pine structured a sale leaseback financing to infuse cash into the operator which is using the proceeds to improve operations and develop additional sites. |
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Quick Service Capital Partners LLC Red Pine, together with an operating partner, acquired a portfolio of five Checkers and Rally's restaurants in Florida and Louisiana as well as several development parcels adjacent to the restaurant sites. Projections reflect an increase of 20% net cash flow from the portfolio through 2010. |
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Koons of Alexandria Auto Dealership Red Pine provided a bridge loan to the principals of this GM auto dealership in the suburban Washington D.C. market to provide capital for commitments for the dealership's acquisition of two additional dealers while its current real estate holdings were marketed for sale. |
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Kamala Holdings LLC Red Pine provided a bridge loan to the principals of a portfolio buyer of franchised, triple net leased Burger King assets in the Northeast until such time as the borrower was able to refinance each asset individually through a conventional mortgage lender. |
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Govinda Holdings LLC An affiliate of Red Pine acquired a portfolio of hospitality assets leased to Friendly’s Ice Cream Corporation and subsequently sold certain restaurants to a financial buyer. Red Pine also provided seller financing to buyers of the assets in the portfolio with the highest unit level coverage ratios. |
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Phoenix Fuel Associates LLC Furthering its presence in and around Phoenix, Arizona, Red Pine acquired a fuel, c-store and automotive service station located on prime real estate close to Sky Harbor Airport. The facility is currently being expanded to include overnight funds, check cashing services and a quick service food concept. |
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The Diplomat Building An affiliate of Red Pine acquired this 120,000 square foot office building located in Laurel, Maryland together with an adjacent development parcel. The building has several investment grade office tenants as well as a number of government agencies. Red Pine is currently exploring the development of a neighboring out parcel. |
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Elm Street Capital Partners LLC Red Pine structured and sponsored a tenant-in-common offering to acquire a 40,000 square foot office building in Dallas, Texas which Red Pine, on behalf of tenant-in-common owners, is currently converting into office condominiums. |
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Harlem Equities LLC An affiliate of Red Pine assembled several parcels on West 95th Street in Manhattan. After successfully repositioning the properties, Red Pine sold the assets to a not-for-profit organization, returning 300% on equity to its investors and affording its investors substantial tax benefits. |