Burger Tigers, LLC, Elite Burgers, LLC and South GA Burgers, LLC, collectively, (“Burger Tigers”), a Newnan, Georgia-based Wendy’s franchisee owned and operated by long-time quick service restaurant industry veteran Doug Augustine, has obtained a total of $12.1 million of new loan commitments, including a $10.4 million real estate secured term loan and a $1.7 million real estate secured development line of credit. The loans were used to purchase the real estate underlying five Wendy’s restaurants and to provide capital for remodels of the restaurants.
Burger Tigers currently owns and operates 13 Wendy’s restaurants as well as the real estate underlying five restaurants. In addition to the 13 Wendy’s restaurants, Augustine, through various other entities, owns and operates 13 Taco Bell restaurants.
Auspex Capital acted as the real estate acquisition advisor and the debt placement agent to the company for this transaction.
