TD Bank, America's Most Convenient Bank, announced Wednesday that its Restaurant Franchise Finance Group closed a total of $26.5 million in financing for Gold Coast Holdings Restaurants to support the acquisition of 15 Wendy's locations in Florida. The transaction was closed by Eric Pashley, senior relationship manager in TD's franchise finance group.
The funds were used to procure 15 Wendy's franchise units in Volusia, Lake, Marion, Putnam and St. John's counties, and to purchase the real estate grounds of 12 of those units. A line of credit will be used to renovate and reimage the acquired stores as well as support future purchases.
“We are delighted to have TD Bank as a financial partner. This relationship has allowed us to pursue new ventures, diversify our business interests and expand, which has enabled us to meet new financial objectives and provide our employees with opportunities to grow within the company,” says Andrew Levin of Gold Coast Holdings Restaurants.
"TD Bank understands the complexities of multi-unit franchise operators, and we are pleased to work with organizations such as Gold Coast Holdings Restaurants," said Mark Wasilefsky, Head of Restaurant Franchise Finance Group, TD Bank. "We look forward to working with Gold Coast as they continue to grow their operations."
Gold Coast Holdings Restaurants owns and operates a total of 91 Wendy's and TGI Fridays locations on the East Coast.
TD Bank’s Restaurant Franchise Finance Group provides financing to owners of major franchisees and large independent concepts throughout the bank’s Maine to Florida footprint. TD Bank also connects its customers to a network of restaurant industry experts to address specific financial needs and challenges and assist in any stage of a restaurant’s life cycle.