Search
 

GE Provides $31M in Financing to URG

PHOENIX—GE Capital's Franchise Finance business announced today that it has provided $31 million to United Restaurant Group, LP in a combined sale-leaseback and refinancing.

By Kristian Seemeyer | Updated on May 30, 2014

PHOENIX—GE Capital’s Franchise Finance business has provided $31 million to United Restaurant Group, LP in a combined sale-leaseback and refinancing. GE Capital served as administrative agent and GE Capital Markets served as sole lead arranger and book runner on the senior debt facility.

Based in Richmond, VA, URG is the second-largest franchisee of TGI Friday’s. It owns and operates 29 restaurants in Virginia, Delaware, North Carolina and South Carolina. The funds will be used to eliminate debt, continue reimaging projects and prepare for future growth. GE Capital has been a lender to the company since 2011.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.