A subsidiary of Joyal Capital Management has divested from a portfolio of 14 Dunkin’ retail locations in metro Boston. The transaction was valued at $44 million.
Northern Management Group, a franchisor of hotel, convenience store and restaurant concepts that operates more than 100 properties in the Northeast, acquired the portfolio. In an unrelated transaction, Joyal Capital also recently closed on the sale of 61 Dunkin’ stores in Southeast Florida to an undisclosed buyer.
“For some time, our company wanted to acquire new assets located in New England, specifically in the Dunkin’ brand, but finding opportunities was difficult,” said Jigar Patel, partner at Northern Management Group.
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles.
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