Robb Chapin, executive vice president and national sales manager for CNL Restaurant Capitol calls the deal "one of the largest sale/leaseback programs in recent years in the restaurant industry." He declined to disclose details of the deal. "The company does not disclose the lease rate on an individual transaction," Chapin says. "Lease rates and terms are competitive in nature and are considered proprietary information."
O'Charley's Inc. operates 206 O'Charley's, 86 Ninety Nine Restaurant and Pub properties and six Stoney River Legendary Steaks restaurants in 23 states. Forbes magazine recognized O'Charley's last year as one of the 200 best small companies in the US.
"Sale/leaseback financing from CNL achieves our goals by providing our company with the predictable, long-term capital we need to implement critical strategic initiatives that will strengthen the financial position of the O'Charley's brand," says A. Chad Fitzhugh, the company's chief financial officer.
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