Gen2 Texas Properties, LLC (“G2TX”), a Kingman, Arizona-based real estate holding company owned and operated by long-time restaurant operators Mark Peterson and Krystal Burge, has secured a total of $44,000,000 in financing consisting of a senior secured real estate term loan, delayed draw term loan, and a development line of credit. The loans were used to refinance the company’s existing debt, finance the acquisition of 23 fee properties, which will be acquired in three tranches over the next ten months, and provide capital for purchase and development of additional real estate.
Mark and Krystal, through various affiliated entities, own and operate 287 YUM! Brands restaurants including 188 Taco Bells, 89 Pizza Huts, 10 KFCs, and the real estate underlying 129 restaurant properties. They are one of the 15 largest YUM! Brands franchisees in the United States.
Auspex Capital acted as debt placement agent to G2TX for the transaction.
