GE Capital, Franchise Finance Provides $74 Million to Team Schostak Family
Applebee’s Franchisee Receives Funding for Acquisition
SCOTTSDALE, Ariz. -- November 06, 2012
GE Capital, Franchise Finance recently provided a $74 million loan to Team
Schostak Family Restaurants, an Applebee’s International, Inc. and Burger
King^® franchisee. The financing will be used to fund the acquisition of 65
new Applebee’s units.
“GE Capital, Franchise Finance proved to be a great choice for us,” says Mark
Schostak, executive chairman, Team Schostak Family Restaurants. “They
continuously strive to ensure our satisfaction, and it resulted in a
Headquartered in Livonia, Mich., Team Schostak Family Restaurants operate 62
Burger King® restaurants, 65 Applebee’s Neighborhood Bar and Grills, and three
Del Taco restaurants.
"We are thrilled to have the opportunity to work with Team Schostak Family
Restaurants,”says Dave Alexander, vice president, GE Capital, Franchise
Finance.“With our industry expertise, we were able to underwrite and commit
to the entire credit facility under tight deadlines, which allowed for a more
streamlined process for Mark and his team.”
Applebee’s is the world’s largest casual dining chain with approximately 2,000
locations in 49 states, 16 countries, and one U.S. territory.
About GE Capital, Franchise Finance
GE Capital, Franchise Finance is a leading lender for the franchise finance
market via direct sales and portfolio acquisition. With more than 30 years of
experience and $10 billion in served assets, we serve over 3,000 customers and
over 18,000 property locations. We specialize in financing mid-market
operators with multiple stores in the restaurant and hospitality industries.
Our team of industry experts will work with you to help develop your own
growth plan with access to our proprietary industry research and customized
tools. More information is available at www.gefranchisefinance.com.
Arment Dietrich, Inc.
Yvette Pistorio, (312) 787-7249
GE Capital, Franchise Finance
Christine Roe, (480) 563-6260
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