CRIC CAPITAL ACQUIRES 4 SONIC RESTAURANTS IN

SALE-LEASEBACK TRANSACTION

CRIC Capital Purchases and Leases Back an American Classic

BOSTON — CRIC Capital, LLC, one of the nation’s leading investors in net leased and other credit real estate, announced the acquisition of four Sonic restaurants from SDI of Florida, LLC (SDI).  All four properties are located in metro Gainesville, near the University of Florida, including Gainesville, Alachua, and Middleburg. The addition of these four properties brings CRIC Capital’s transaction volume to over $400 million.

“It was rewarding to work with such experienced business operators,” said Marjorie Palace, Managing Partner of CRIC Capital, LLC.  “By acquiring this portfolio, we were able to provide the capital necessary for SDI of Florida to expand its business operations.”

SDI hired Franchise Capital Advisors to find the right partner to complete the deal. “We can count on the executives at CRIC Capital to make the deal happen,” says Ryan Kress, of Franchise Capital Advisors. “We have a strong relationship with CRIC Capital and their assurance of personal dedication in conjunction with their institutional partnership made SDI comfortable entering into this agreement.”

“CRIC Capital is about helping management teams achieve their business goals,” states James Burke, CEO of SDI and Eateries, Inc.  “This deal makes it possible for us to improve our bottom line and continually expand our franchise portfolio.”

About Sonic

As the nation’s largest chain of drive-in restaurants, Sonic enjoys one of the strongest sales growth records in the restaurant industry.  Sonic is distinguished as the most highly differentiated quick-service brand through personalized service, distinctive menu selections and customer experience.  Since its start fifty-two years ago in Shawnee, Oklahoma, Sonic is truly “America’s Drive-In” with the nation’s largest network of drive-in restaurants.  The company has two operating subsidiaries: Sonic Industries Inc., which serves as the franchisor of the Sonic Drive-In chain and Sonic Restaurants Inc., which develops and operates the Partner Drive-Ins. For more information, please visit the company’s website at www.sonic.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 credit 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