CNL Originates $46 Million for Apple South's Divestiture to QRC.ORLANDO, Fla.--(BUSINESS WIRE)--July 16, 1998--CNL Restaurant Group ("CNL CNL CityNightLine (German Rail) CNL Cancel CNL Clinical Nurse Leader Cnl Colonel CNL Center for Naval Leadership CNL Compensated Neutron Log (oil industry) "), announced today that it has originated $46 million in financing for the purchase of 26 Applebee's restaurants by Quality Restaurant Concepts, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . (QRC QRC Quick Reference Card QRC Queensland Resources Council (Australia; formerly Queensland Mining Council) QRC Queer Resource Center QRC Quick Reaction Capability QRC Queen's Royal College (Port of Spain, Trinidad) ) of Birmingham, Alabama Birmingham (pronounced [ˈbɝmɪŋˌhæm]) is the largest city in the U.S. state of Alabama and is the county seat of Jefferson County. . The acquired restaurants were part of Apple South's portfolio and are located in Georgia, Mississippi and Tennessee. This is one of the first transactions in Apple South's one-half billion divestiture of its Applebee's stores. "My partners, Fred Gustin, Glenn Durham and I are pleased with the outcome of this transaction," said John W. Jones, QRC President. "CNL understood our aggressive, long-term growth objectives and took a giant step with us in meeting those objectives. Their knowledge of the restaurant industry will expedite our financing transactions in the future, and strengthen our position within the Applebee's system." "CNL is pleased to establish a strategic relationship with QRC," said John Walker, Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. ofCNL Fund Advisors, Inc., a subsidiary of CNL Group, Inc. "We were able to participate with Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. in closing this transaction. Both our companies understood that QRC has an outstanding management team with a clear vision of where they want to take their restaurants operations over the long-term. Additionally, CNL has entered into a $16 million forward funding commitment with QRC for new store development." CNL is a recognized leader in providing net lease financing to the restaurant industry. CNL offers single-source access to a variety of financing solutions, including debt and equipment financing, turnkey development services and venture capital, as well as advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal for mergers and acquisitions. CNL and its affiliates manage over $2.4 billion in real estate assets and own, or have financed, over 1,300 nationally advertised, chain restaurant properties in 44 states. For more information on CNL, contact Marilyn Turner, Vice President of Franchise Relations, at 400 E. South Street, Orlando, FL 32801, (800)522-3863.
CONTACT: CNL Group Inc., Orlando
Marilyn Turner, 800/522-3863
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