Famous Dave's of Aurora

Transaction Details

Famous Dave’s of Aurora is a 6,700 square foot restaurant building located on a 1.55 acre pad out parcel within the Cornerstar Shopping Center in Aurora, Colorado. Constructed in 2010, the property is leased to Famous Dave’s Bar-B-Que. Famous Dave’s recently signed a 15-year lease term with 4 five-year renewal options. Famous Dave’s is publicly traded on the NASDAQ stock exchange under stock ticker, “DAVE”. Famous Dave’s serves 34 states, Puerto Rico, and Canada with 196 restaurants.

The Proposition

The Borrower requested a loan of 70% of purchase price.

Our Solution

Essex sourced the debt through a local banking relationship and, through the utilization of an interest rate swap, helped the borrower fix the interest rate for 15-years at a highly competitive rate.