Citizens Commercial Banking Leads $86 million in Financing for Golden Gate Bell, LLC

Citizens Commercial Banking Leads $86 million in Financing for Golden Gate Bell, LLCCitizens’ franchise finance team builds on national success with Taco Bell restaurant finance deal in San Francisco Bay Area

Citizens Commercial Banking Leads $86 million in Financing for Golden Gate Bell, LLCCitizens Commercial Banking, the commercial banking division of Citizens Financial Group, announced today that it has provided $86 million in new financing to Pleasanton, CA-based Golden Gate Bell, LLC for the acquisition of the 72-unit Taco Bell franchisee Dolan Foster Enterprises and the 13-unit Taco Bell franchisee Aksan United Fortune, Inc.

“The Citizens Commercial Banking team offered multiple financing options and acted as trusted advisors during the bidding process,” said David Grieve of Golden Gate Bell Restaurant Holdings, LLC, the holding company for Golden Gate Bell. “Citizens’ Restaurant Finance team demonstrated tremendous industry expertise and that’s why we selected them over competing banks.”

“As a leading national lender to restaurant owners, our focused expertise allows us to quickly assess the unique financing needs of clients such as Golden Gate Bell and provide both practical advice and dependable solutions,” said Armando Pedroza, senior vice president and national director of Citizens’ Restaurant Finance business. “With an average of more than 15 years of restaurant lending experience, our dedicated restaurant bankers understand the opportunities and challenges that face today’s restaurant owners.”

Citizens is serving as Sole Lead Arranger, Bookrunner and Administrative Agent for this transaction. Other lenders participating in the transaction are Bank of America and BMO Harris Bank.

A&C Ventures, Inc., a private commercial real estate investment company based in Sonoma, CA, raised the equity and formed the Golden Gate Bell entities to acquire Dolan Foster Enterprises and Aksan United Fortune. Since its inception in 1992, ACV has acquired more than 400 properties in 35 states valued at more than $1 billion and currently owns 165 properties in 30 states with an asset value in excess of $650 million.

Citizens Restaurant Finance is a top national restaurant lender focused on meeting the capital needs of multi-unit restaurant owners nationwide including franchisees, franchisors and chain restaurant owners.  For more information, go to

Formerly known as RBS Citizens, Citizens Commercial Banking is the commercial banking division of Providence, RI-based Citizens Financial Group. For more information about Citizens Financial Group, go to

Citizens Financial Group Inc. is one of the nation’s oldest and largest financial institutions, with $130.3 billion in assets as of June 30, 2014. Headquartered in Providence, Rhode Island, the company offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Consumer Banking helps its retail customers “bank better” with mobile and online banking, a 24/7 customer contact center and the convenience of approximately 3,200 ATMs and approximately 1,200 Citizens Bank and Charter One branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Citizens also provides mortgage lending, auto lending, student lending and commercial banking services in selective markets. Citizens Commercial Banking offers corporate, institutional and not-for-profit clients a full range of wholesale banking products and services including lending and deposits, capital markets, treasury services, foreign exchange and interest hedging, leasing and asset finance, specialty finance and trade finance.

Citizens operates via subsidiaries Citizens Bank, N.A., and Citizens Bank of Pennsylvania. Additional information about Citizens and its full line of products and services can be found at