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Article: First Union Real Estate Capital Markets Structures Real Estate Synthetic Lease for Benihana Inc.
- Article from:
- Business Wire
- Article date:
- October 6, 1999
CopyrightCOPYRIGHT 1999 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MIAMI--(BUSINESS WIRE)--Oct. 6, 1999--
First Union Real Estate Capital Markets has arranged a $25 million lease financing for Benihana, Inc., operator of the nation's largest chain of Asian restaurants.
Benihana said that its intention is to use the new lease program to assist in the development of new restaurant properties. "The financing arranged by First Union Real Estate Capital Markets will provide Benihana with increased flexibility in acquiring new restaurant properties," said Joel Schwartz, President of Benihana.
First Union provided Benihana with strategic advice and execution of all facets of the real estate synthetic lease ...