Coral Gables-based real estate attorney Neil S. Rollnick represented the seller in a $8.05 million sale of seven Denny’s Restaurant locations in Florida and two other states.
Orion Ventures XII Florida LLC acquired the Denny’s Restaurant restaurants in Broward County and three other Florida counties: Hillsborough, Manatee and Pasco. Orion Ventures XII North LLC non-Florida Denny’s locations in West Haven, Connecticut, and Lawrence, Massachusetts.
The sellers were six South Florida-based general partnerships.
“The transaction was complicated due to the ages of the original general partnership leases which dated back to 1978-1980, the manners in which they had been amended, assigned and/or terminated and replaced as well as a variety of other reasons,” Rollnick, a partner with Hinshaw & Culbertson, said in a prepared statement.
“There were also individual issues pertaining to the properties involving matters of title, entity issues, operational issues and the fact that the properties are located in four Florida counties and three different states,” Rollnick said.