TD Bank’s Restaurant Franchise Finance Group closed $26.5 million in financing for Gold Coast Holdings Restaurants to support its acquisition of 15 Wendy’s locations in Florida.
The transaction was closed by Eric Pashley, senior relationship manager in the franchise finance group.
The funds were used to purchase 15 Wendy’s franchise units in Volusia, Lake, Marion, Putnam and St. John’s counties and to purchase the real estate grounds of 12 of those units. A line of credit will be used to renovate and reimage the acquired stores as well as support future purchases.
“We are delighted to have TD Bank as a financial partner. This relationship has allowed us to pursue new ventures, diversify our business interests and expand, which has enabled us to meet new financial objectives and provide our employees with opportunities to grow within the company,” said Andrew Levin of Gold Coast Holdings Restaurants.
“TD Bank understands the complexities of multi-unit franchise operators, and we are pleased to work with organizations such as Gold Coast Holdings Restaurants,” said Mark Wasilefsky, head of Restaurant Franchise Finance Group, TD Bank. “We look forward to working with Gold Coast as they continue to grow their operations.”
Gold Coast Holdings Restaurants owns and operates 91 Wendy’s and TGI Fridays locations on the East Coast.
