Whataburger Expansion
Provided $11M in development financing to scale a 20-unit Whataburger agreement.
Financing
A 120-unit, multi-brand operator had just signed a 20-unit Whataburger development agreement and needed help scaling quickly. Century Partners was engaged to finance the development of multiple sites.
On the first project, in Weatherford and Midwest City, Oklahoma, Century Partners arranged a buyer, put the properties under contract, and closed at certificate of occupancy. At C/O the properties sold to a REIT, which paid off the debt and reduced the operator's monthly payment. On the second project, in Ada, Oklahoma, the tenant identified a site for ground-up construction and engaged Century Partners for developer options to fund the land purchase and construction. Century Partners sourced a developer to buy the land and fund construction, and has been engaged to market and sell the building.
Century Partners provided $11M in funding for this tenant in six months, and the operator is on track to expand to eight open and operating stores with very little capital expended. Beyond sourcing the developer, Century Partners handled the disposition of each property once funded and constructed.
Advisors
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