CNL Provides $56.1 Million Financing for Valenti Group.ORLANDO, Fla.--(BUSINESS WIRE)--Dec. 17, 1999-- CNL CNL CityNightLine (German Rail) CNL Cancel CNL Clinical Nurse Leader Cnl Colonel CNL Center for Naval Leadership CNL Compensated Neutron Log (oil industry) American Properties Fund, Inc. ("CNL") announced today that it has provided approximately $56.1 million in debt financing Debt Financing When a firm raises money for working capital or capital expenditures by selling bonds, bills, or notes to individual and/or institutional investors. In return for lending the money, the individuals or institutions become creditors and receive a promise to repay to Valenti Mid South Management, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control and Valenti Mid South Realty realty n. a short form of "real estate." (See: real estate) REALTY. An abstract of real, as distinguished from personalty. Realty relates to lands and tenements, rents or other hereditaments. Vide Real Property. , LLC for the acquisition of 54 Wendy's restaurants. The restaurant properties are all located in the Memphis, Tennessee For the ancient Egyptian capital, see . Memphis is a city in the southwest corner of Tennessee, and the county seat of Shelby County. Memphis rises above the Mississippi River on the 4th Chickasaw Bluff just below the mouth of the Wolf River. market area. The Valenti family of companies acquired the properties from Wenco, Inc. The acquisition brings the Valenti Group into the top five Wendy's operators with over 90 units throughout the South and Northeast. The transaction is also one of the largest acquisitions for the Wendy's system this year. "This was an outstanding opportunity for us to further our growth in the Wendy's system. In addition, we were able to acquire a substantial amount of real estate with this acquisition," said Steven Nesbitt, executive vice president and chief financial officer, of the Valenti Group. "Based on CNL's excellent track record with us, we had every confidence that they would be able to accomplish the transaction in a timely and professional manner. Our confidence in CNL proved to be well-placed." "We knew it was important to them to work with one lender and to have a high comfort level due to the size and structure of the transaction," said John T. Walker, president of CNL American Properties Fund, Inc. "This is the second large transaction we have completed for this outstanding organization in the last 24 months, so we are pleased to continue our solid relationship and to provide them with the total financing solution they were seeking." CNL is a recognized leader in providing financing to the restaurant industry. CNL offers single-source access to customized sale leaseback A transaction whereby land is sold and subsequently rented by the seller from the purchaser who is the new owner. and debt financing, as well as turn-key, real estate development, construction management, and strategic 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 . CNL has financed or manages nearly $2.0 billion in restaurant and real estate assets in 48 states. |
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