JCM Franchise Development Recognized for Multi-Million Dollar Deal in Franchise Times’ 2014 Top Dealmakers Awards
BOSTON, April 21, 2014 – A multi-million dollar sale and purchase of Dunkin’ Donuts stores handled by JCM Franchise Development, a subsidiary of Joyal Capital Management, has been recognized in Franchise Times’ 2014 Top Dealmakers Awards.
Southern Star Restaurant Management Group was the owner of 13 Dunkin’ Donuts stores in Massachusetts but was looking to relocate to Florida. JCM’s Gary Joyal and Dan Connelly, along with David Paris, an attorney from Paris Ackerman Schmierer, worked with Southern Star to help execute a tax-friendly 1031 asset exchange. They were assisted by James Mawn, Jr. of Northern Bank and Trust-Boston who handled the debt placement for this transaction. This resulted in the sale of the stores in Massachusetts and the new purchase of 20 Dunkin’ Donut restaurants plus development rights in Orlando.
“We’re thrilled the deal for Southern Star has earned such a reputable award from the franchise industry’s most distinguished publication,” noted Joyal, CEO and Managing Partner of Joyal Capital Management. “This was truly a unique win for our client, who was not only able to move to the location he desired, but also able to continue his franchise ownership, while taking advantage of a great financial tool in the 1031 asset exchange.”
Franchise Times’ Top Dealmakers Awards annually recognize the industry’s most prestigious franchise deals as nominated by a panel of judges.