Red Hubs, RE LLC, Red Hubs LIV, LLC, Red Hubs Enola, LLC and Red Hubs PLPT, LLC (collectively, “RH-RE”), owned and operated by Yellow Cab Holdings, has secured a total of $35.1 million in new loan commitments. The financing included a $28.1 million real estate secured term loan and a $7.0 million development line of credit. The loans were used to refinance RH-RE’s existing debt on nine properties, finance the acquisition of real estate underlying five existing Wendy’s restaurants and provide capital for future fee property acquisitions and new unit development.
RH-RE is a real estate holding company which owns the real estate underlying 16 Wendy’s restaurants in Pennsylvania. Yellow Cab Holdings, through various entities, currently owns and operates 82 Wendy’s restaurants in Pennsylvania, New Jersey and New York. Auspex Capital acted as financial advisor and debt placement agent to RH-RE for the transaction.
