CRIC CAPITAL ACQUIRES EL CHICO RESTAURANTS IN NET LEASE TRANSACTION

CRIC Capital Purchases 16 Properties from Dallas, TX Restaurant Chain

BOSTON — CRIC Capital, LLC, one of the nation’s leading investors in net leased and other credit real estate, announced the acquisition of sixteen El Chico Cafe properties, located in TX, OK, LA, TN, KY, AL and AR.  These properties are net leased to El Chico Restaurant, Inc., a division of Consolidated Restaurant Companies (CRC).

El Chico hired Franchise Capital Advisors to help them find just the right buyer.  The right buyer meant one willing to close in the last five weeks of the year.  "While we knew there would be many other companies interested in acquiring this portfolio, we also knew that there was only one company with the proven track record to close a net lease transaction with sixteen properties in seven different states in the last five weeks of the year," said Ryan Kress of Franchise Capital Advisors.  "CRIC Capital's efficient, systematic approach and closing track record combined with Franchise Capital Advisors' and CRIC Capital's long standing relationships with third party vendors is what gave us the confidence that as a team, we could meet the deadline."

"When we work with Franchise Capital Advisors, we know they are just like us - willing to roll up their sleeves and do what it takes to get the deal done," said Marjorie Palace, Managing Partner of CRIC Capital, LLC.  "This deal was appealing because El Chico was willing to renegotiate the leases on our paper and increase the lease term, thereby increasing the value of the properties to us.  In such a short period of time and no third party due diligence reports yet ordered, we worked thoroughly to deliver what we promised and close this deal on time."

About El Chico Restaurants, Inc.

El Chico Restaurants, Inc. is the largest subsidiary of Consolidated Restaurant Companies (CRC).  CRC was founded in September 1998 as a holding company for the restaurant operating companies managed by Cracken, Harkey & Street, LLC, CRC's majority shareholder.  With 65 years of restaurant experience and 35 years of franchise experience, they operate over 100 company owned restaurants and 25 franchise restaurants including El Chico, III Forks, Cantina Laredo, Silver Fox, Cool River & Good Eats in 18 states and Canada.

El Chico has been a Mexican tradition since 1940 when Adelaida Cuellar and five of her sons opened a restaurant in Dallas, TX.  The sons built additional restaurants in the Dallas area and beyond.  In 1957, El Chico was incorporated in Texas as a successor to this original business.  Today, there are 78 El Chico locations serving moderately priced Tex-Mex-style cuisine in 11 states.  The system has annual sales of nearly $125 million, with an average unit volume of $1.55 million.  For more information, please visit the company's website at www.elchico.com.

About Franchise Capital Advisors

Franchise Capital Advisors, a boutique investment bank and advisory firm led by industry finance veteran Stephen Schwanz, is dedicated to providing a full range of investment banking services to the chain retail industry, including debt & equity placement, sale leaseback financing, and buy-sell side advisory.  With nearly 35 years of experience in the financing of the chain retail industry, Franchise Capital Advisors' team of business professionals are completely focused on utilizing their resources to provide maximum value to their clients.

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 Managing Partners 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