“This initiative reflects the value we bring as a capital partner,” said Greg Friedman, Peachtree’s CEO. “By providing flexible financing to operators like The Briad Group, we can help accelerate growth while creating durable assets for our investors.”
Peachtree closed its first Circle K financing with Briad in Binghamton, New York, for a Wendy’s and Dunkin’-anchored mini-travel center, featuring two drive-thru lanes serving both restaurants, the statement said. The financing partly supports Briad's agreement with Circle K to more than double the brand's presence in New York. Under the deal, Briad will open 40 franchised Circle K stores across upstate New York, adding to the existing 30 locations statewide.
Peachtree, based in Atlanta, and Briad, based in Livingston, New Jersey, have worked together for more than a decade, the statement said. Since 1999, Peachtree provided Briad with over $100 million for hotel ground-up developments within Marriott and Hilton brands, supporting this initiative.
Peachtree is led by Friedman; Managing Principal and CFO Jatin Desai and Principal Mitul Patel.
In July, Peachtree launched a $250 million fund to invest in hotel and commercial real estate assets mispriced due to capital market illiquidity.
