CRIC CAPITAL ACQUIRES 2 CHARLESTON'S RESTAURANTS IN SALE-LEASEBACK TRANSACTION

CRIC Capital Purchases and Leases Back Arizona Eateries

BOSTON — CRIC Capital, LLC, one of the nation’s leading investors in net leased and other credit real estate, announced the acquisition of two Charleston’s restaurants, located in Scottsdale and Mesa Arizona, from Charleston’s Restaurant Group, Inc. (CRG).   The total purchase price for these properties was approximately $8 million, bringing CRIC Capital’s annual transaction volume to over $400 million.

“This acquisition opportunity was appealing not only for the prime retail location of both properties, but also the expertise of CRG’s Founder and Manager,” said Marjorie Palace, Managing Partner of CRIC Capital, LLC. “Hal Smith is an extremely capable and experienced restaurateur.  By acquiring these properties, we were able to provide CRG with capital from their real estate asset.”

CRG engaged Franchise Capital Advisors to assist with the transaction.  “The executives at CRIC Capital bring a personal commitment and level of expertise that makes them easy to work with,” says Ryan Kress, of Franchise Capital Advisors. “CRIC Capital had a competitive bid. There is no doubt CRG chose them based on their reputation for strong and reliable execution”.

About Charleston's

Charleston’s Restaurant is a privately owned company founded in April 1987, in Oklahoma City, Oklahoma.  Charleston's is a casual, upbeat restaurant with a modestly priced menu and a warm and inviting atmosphere.  Charleston's focuses on providing its guests with excellent value and service using high quality ingredients, management and staff.  The Charleston’s Restaurant concept is part of Charleston’s Restaurant Group, Inc. (CRG), a Norman, Oklahoma based company that manages 28 restaurants in six states, employs approximately 3,000 people, and posted $31 million in revenue from company-owned restaurants and management fees over the last twelve months.   For more information, please visit the company’s website at www.charlestons.com.

About CRIC Capital, LLC

CRIC Capital, LLC, a privately-held firm backed by the deep institutional resources of Prudential Real Estate Investors, acquires and net leases individual assets and portfolios of commercial real estate to investment grade and non-investment grade companies, including both corporate and franchisee credits.  Net lease transactions allow corporations and organizations to strengthen their financial positions and free up capital to reinvest in their core business.   Over the years, the principals of CRIC Capital have been actively involved in closing over $6 billion of net lease transactions.

Contact:
Victoria Nessen Kohlasch
CRIC Capital, LLC
617-388-9862
vkohlasch@nessenkohlasch.com