Jaylor Services Gets $65M in Financing for Burger King Portfolio

Affiliates of Jaylor Services are set to get $65 million in financing, courtesy of Ladder Capital, for a 99-property Burger King portfolio located throughout six states.
Mark West, HFF

Mark West, HFF

Affiliates of Jaylor Services Inc. is set to get $65 million in financing for a 99-property Burger King portfolio located throughout six states.

Acting on behalf of the borrowers, commercial real estate and capital markets services provider HFF secured a 10-year, fixed-rate, non-recourse loan through Ladder Capital, with whom HFF has a long standing relationship, according to Mark West, senior managing director who led the HFF team in representing the borrower. Managing Director Brandon Chavoya also led the HFF team.

“It was a very well-structured loan, very well collateralized, good cash flow and very good performance at the property level,” West told Commercial Property Executive.

Of the 99 Burger King locations, four are in Florida, nine in Mississippi, 22 in Alabama, 57 in Louisiana, four in Missouri and three in Kansas. All properties are leased on a long-term basis to an affiliate of Strategic Restaurants, a subsidiary of Cerberus Capital Management L.P.

Jaylor Services Inc. is a management company in Newport Beach, Calif. that overseas the operations of an affiliated group of real estate companies with a portfolio of 133 single-tenant restaurant properties leased on a long-term, absolute-net basis. Jaylor’s principals previously managed the operations of a large, multi-unit Burger Kong and Chili’s franchise with more than 300 operating units.