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ATLANTA-Locally based AppleGrove Restaurants has received $87million in financing from Scottsdale, AZ-based GE CapitalSolutions, Franchise Finance for the sale-leaseback of 33properties in seven states.
The funding allows AppleGrove, one of the original Applebee'sfranchisees, to reduce its debt and gain capacity for futuregrowth. The transaction covers Applebee's restaurants in Georgia,Alabama, Colorado, New Mexico, Oregon, Washington and Idaho. "Thisis the proverbial win-win situation for both parties," says GECapital Solutions, Franchise Finance vice president, Robert Daniel."It contributes to our growth in a strong franchise system withgreat assets."
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