An Atlanta-based restaurant group just took out a $9.9 million mortgage on a handful of TGI Friday’s restaurants in Broward County. That’s a lot of bread.
Atlanta Restaurant Partners took out the financing from Brightwood Loan Services on Friday. The mortgage named seven locations spread throughout cities in Broward County, all situated on out-parcels or in shopping centers and leased from various landlords that ranged from family trusts to investment companies.
Daniel Halpern, president and CEO of Jackmont Hospitality
All seven are managed by Jackmont Hospitality, an affiliate of Atlanta Restaurant Partners that describes itself as one of the fastest growing franchisees of TGI Friday’s, according to its website. ARP assumed all seven leases from the brand on the same day, May 27th of this year, according to county records.
The mortgage document states that this loan is part of a much larger debt that’s secured by properties throughout Florida, totalling $155 million. Because both TGI Friday’s and Atlanta Restaurant Partners are privately owned companies, details about this financing are not readily available.
Here’s a breakdown of the locations:
- 90 North University Drive, Pembroke Pines
- 6200 North Federal Highway, Fort Lauderdale
- 80 Southwest 84th Avenue, Plantation
- 2940 Oakwood Boulevard, Hollywood
- 855 University Drive, Coral Springs
- 13500 West Sunrise Boulevard, Sunrise
- 15551 Sheridan Street, Davie